Facts
The PensFlex - Collective Foundation for supplementary occupational pensions offers its insured persons pension solutions with a fundamentally freely selectable investment strategy, adapted to their individual risk capacity. The Central Swiss OPA and Foundation Supervisory Authority (ZBSA) demanded that each individual investment strategy be reviewed in advance by the occupational pensions expert for its appropriateness. The collective foundation appealed against this requirement.Considerations
The Federal Supreme Court dismissed the appeal. It stated that while pension solutions under Art. 1e OPO 2 allow for the free choice of investment strategy, the principles of appropriateness, collectivity, equal treatment, planning and the insurance principle must be observed. A collective foundation with a very large number of affiliated pension funds must not offer such an extensive range of individual investment strategies that collectivity is no longer realistically possible. The appellant had planned an offer of over 3,300 strategies, which the Federal Supreme Court considered inadmissible.
The Federal Supreme Court…