CPEV

What CPEV does

CPEV (Caisse de pensions de l'Etat de Vaud) is a statutory Swiss 2nd pillar occupational pension fund established in 1952 to provide retirement, disability, death, and survivor coverage to employees of the Canton of Vaud and their dependents. The fund operates under a partial capitalization model supervised by the Autorité de surveillance LPP et des fondations de Suisse Occidentale (As-So), with a coverage ratio exceeding 75% as of December 31, 2025 against a regulatory target of 80% by 2052. Governance is exercised through an Assembly of Delegates and a Board of Directors with equal State and insured-member representation, while day-to-day administration is delegated to Retraites Populaires under a formal "gérance" management agreement from the fund's headquarters in Lausanne.

The core product offering, "Prestations de prévoyance," spans retirement pensions, disability and invalidity benefits, death and survivor benefits, divorce provisions, prefinancing accounts, buy-back contributions, and 2nd pillar home-ownership support. CPEV layers on a responsible investment platform with ESG integration, shareholder engagement, and exclusion policies aligned with a climate strategy adopted in 2020, alongside direct real estate management (senior housing, the Vortex development, Les Hauts de Dorigny), mortgage lending to individuals and collectives, online retirement simulators, and a secure Espace personnel member portal. The Bulletin CPEV email newsletter, launched in 2012, and downloadable regulatory documents support member communication.

The revenue model is contribution-based and statutory: pricing is not commercially negotiated but set by Swiss pension law as a percentage of insured salary, paired with employer contributions and investment returns on the fund's assets. Revenue and AUM are not publicly disclosed on the CPEV website. The customer base is structurally limited to a single segment — Canton of Vaud public-sector employees — making CPEV a closed, single-employer-group pension institution with no expansion into the broader Swiss occupational pension market and no traditional corporate equity ownership.

Name

CPEV

Legal name

Caisse de pensions de l'Etat de Vaud

Website

https://cpev.ch

Company type

Private

Founded year

1952

Operating status

Operating

Headcount range

251–500 employees

Short description

CPEV is a statutory Swiss 2nd pillar pension fund for Canton of Vaud state employees, operating under partial capitalization since 1952. It delivers retirement, disability, and survivor benefits, manages responsible investments, and offers mortgage lending through its Lausanne headquarters.

Ownership category

akta.pro rank

Product category

Occupational Pension Fund Management

NAICS

Pension Funds (525110)

akta.pro primary industry

Liability-Driven Investment (LDI) & Pension Risk Transfer (PRT) Asset Management (FSAAAGAI)

Keywords

• Occupational pension fund
• Retirement benefits management
• Responsible investment services
• Mortgage lending services
• Public sector pensions

Headquarters

HQ city

Lausanne

HQ country

Switzerland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Distribution channels2 records

Marketing channels2 records

Core offering

CPEV is a public occupational pension fund (2nd pillar) for State of Vaud employees, delivering retirement, disability, death, and divorce benefits under a partially capitalized model. Beyond the statutory pension product, CPEV manages a responsible investment portfolio with ESG integration and offers mortgage lending and real estate services to insured members and partner institutions.

Product overview

CPEV (Caisse de pensions de l'état de Vaud) operates as a public pension fund for the Canton of Vaud, Switzerland, managed by Retraites Populaires. The offering consists of core pension and insurance services (Prestations de prévoyance) encompassing retirement planning, disability, death, and divorce provisions under Switzerland's 2nd pillar system, supported by responsible investment management with ESG integration. Additional services include mortgage lending (Prêts hypothécaires), real estate management, online simulators for retirement planning, a secure personal online space (Espace personnel), and downloadable PDF forms for administrative procedures. The fund also publishes annual reports and distributes a newsletter (Bulletin CPEV) to members.

Differentiator

Problem solved

Functional benefit

Products and services

• Prestations de prévoyance (Statutory Pension and Insurance Benefits) Core occupational pension product providing retirement, disability, death, and divorce benefits to insured State of Vaud employees and members of partner institutions under Swiss 2nd pillar law.
• Prêts hypothécaires (Mortgage Lending) Mortgage loan product extended to insured individuals (particuliers) and partner institutions (collectivités) affiliated with the fund.
• Immobilier (Real Estate Services) Real estate portfolio management and related services operated as part of the fund's asset base, overseen by the Real Estate Committee.
• Placements et Investissements responsables (Responsible Investment Management) In-house investment management of the fund's assets, integrating ESG criteria and ASIP charter principles across the portfolio.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Retraites PopulairescoreStrategic or Co-development PartnerRetraites Populaires serves as the 'gérante' (manager/operator) of CPEV, handling the day-to-day operations, marketing, communication, and management of the pension fund. They provide all administrative services including the online portal (Espace personnel), customer service, and fund management support.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• PUBLICA: Federal pension fund for employees of the Swiss Confederation, federal enterprises, and affiliated organizations. Comparable in mandate (statutory occupational pension for public employees) and governance (paritary boards), with materially larger AUM but the same operating model.
• BVK Personalvorsorge des Kantons Zürich: Statutory pension fund for Canton of Zurich employees, one of the largest Swiss cantonal funds. Operates retirement, disability, and survivor benefits plus mortgages, with similar governance and investment policy frameworks — a useful scale-up benchmark for CPEV.
• Pensionskasse Basel-Stadt: Cantonal pension fund for Basel-Stadt public employees under Swiss 2nd pillar law. Similar statutory mandate, parity governance, and integrated benefit/real estate/mortgage offering for an urban public-sector workforce.
• Caisse de pensions du personnel communal de Lausanne (CP CL): Pension fund for Lausanne municipal employees, operating in the same Vaud canton and managed by Retraites Populaires. Shares CPEV's administrator, language, regulatory environment, and local political dynamics, providing a directly overlapping operational benchmark.
• Caisse de prévoyance de l'État du Jura: Cantonal pension fund for State of Jura employees, the smallest Romandie canton. Comparable in legal structure and product scope, providing a useful lower-bound benchmark on scale and operating model.
• Caisse de pensions de la République et Canton de Neuchâtel (CPNE): Cantonal pension fund for State of Neuchâtel employees in French-speaking Switzerland. Operates an analogous retirement/disability/death benefits suite for a cantonal public-sector workforce of similar profile.
• Caisse de prévoyance de l'État de Fribourg: Cantonal pension fund for State of Fribourg employees with comparable product scope and bilingual governance context. Closely comparable in scale, member base, and partial capitalization arrangements typical of smaller Romandie cantons.
• Caisse de prévoyance de l'État de Genève (CPEG): Statutory cantonal pension fund for State of Geneva employees under Swiss 2nd pillar law. Operates an almost identical product set (retirement, disability, death, mortgages, real estate) for a similar public-sector workforce, making it the closest functional analogue to CPEV.

Broad incumbents

• Swiss Life: Switzerland's largest life insurer and major provider of full-book and semi-autonomous pension solutions. Not a direct public-fund peer, but competes for the same institutional mandates, ESG leadership narrative, and B2B retirement market CPEV operates in.
• Retraites Populaires: Parent operating company and gérant of CPEV, and the broader Vaud public-sector financial services group managing multiple pension vehicles plus insurance and real estate. Directly comparable back-office and investment platform, and the entity through which CPEV scales its operations.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CPEV