Compenswiss

What Compenswiss does

Compenswiss (legal name: Ausgleichsfonds AHV/IV/EO) is an independent public law institution of the Swiss Confederation, headquartered at Boulevard Georges-Favon 6, Geneva. Established under the Federal Act on the Institution for the Administration of the Compensation Funds of OASI, InvI and LEC of 16 June 2017 and operational from 1 January 2019, it is the sole federally mandated manager of three Swiss social security compensation funds: Old-Age and Survivors' Insurance (OASI/AHV, CHF 44.6bn), Invalidity Insurance (InvI/IV, CHF 3.7bn), and Loss of Earnings Compensation (LEC/EO, CHF 2.3bn), for combined assets of approximately CHF 50.5 billion.

The institution provides liquidity management and investment management for these statutory buffer funds, with a legal mandate to maintain sufficient liquidity for benefit payments at all times while optimizing the security-return relationship. Its investment operation executes internally and via 17+ external asset managers across money market instruments, bonds (government and corporate), equities (global and Swiss), real estate, and gold. Compenswiss invests across 100+ countries with 45 active mandates in a 50/50 internal/external split, achieved a 7.33% investment result in 2024, and reports a 35.90% cumulative return over ten years. The organization is a founding member of SVVK-ASIR, integrates ESG factors, and exercises voting rights in Swiss equities.

Compenswiss is not a commercial entity: it has no externally marketed products or services, no commercial pricing, and no traditional revenue model. The contribution flows it administers (CHF 5.3 billion average monthly inflow; CHF 5.2 billion average monthly outflow in 2023) are payroll taxes, VAT, and federal contributions that are statutorily earmarked for the funds. Its only customer, structurally, is the Swiss social security system. Governance rests with an 11-member Board of Directors appointed by the Federal Council, with employer, employee, insured-person, and Confederation representation, plus advisory representatives from the Federal Finance Administration and Federal Social Insurance Office.

Name

Compenswiss

Legal name

Compenswiss (Ausgleichsfonds AHV/IV/EO)

Website

https://compenswiss.ch

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Compenswiss is an independent Swiss federal institution managing the CHF 50.5 billion compensation funds of OASI, InvI, and LEC social security schemes, investing across 100+ countries to ensure benefit payment liquidity.

Ownership category

akta.pro rank

Product category

Public Social Security Fund Management

NAICS

Insurance and Employee Benefit Funds (5251), Pension Funds (525110), Trusts, Estates, and Agency Accounts (525920)

SIC

Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB)

akta.pro secondary industry

Trust Administration & Fiduciary Accounting Services (FSAAANAF)

Keywords

• Social security funds
• Pension fund management
• Institutional asset management
• Government fund management
• Strategic asset allocation

Headquarters

HQ city

Geneva

HQ country

Switzerland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Others

Revenue model

1. Social Security Fund Management: Compenswiss is not a revenue-generating commercial entity. It manages the compensation funds of three Swiss social security schemes (OASI, InvI, LEC). All contributions (payroll taxes, VAT, federal contributions, gaming tax revenue) flow into compenswiss, and all benefit payments are disbursed from compenswiss. Its role is to manage and invest the buffer funds (approximately CHF 50.5 billion) to ensure sufficient liquidity and achieve optimal security-return balance.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Compenswiss is an independent public law institution of the Swiss Confederation that manages the compensation funds of three social security schemes: Old-Age and Survivors' Insurance (OASI), Invalidity Insurance (InvI), and Loss of Earnings Compensation (LEC). It holds approximately CHF 50.5 billion in combined assets (OASI CHF 44.6bn, InvI CHF 3.7bn, LEC CHF 2.3bn) and is responsible for ensuring sufficient liquidity for benefit payments while investing the buffer capital to achieve an optimal security-return balance. The institution is funded through social security contributions (payroll taxes, VAT, federal contributions) that flow in from cantonal and professional compensation funds, and it channels benefit payments back through this same decentralized network.

Product overview

Compenswiss is an independent public law institution of the Swiss Confederation based in Geneva responsible for managing the compensation funds of Old-Age and Survivors' Insurance (OASI), Invalidity Insurance (InvI), and Loss of Earnings Compensation (LEC) schemes. It manages approximately CHF 50.5 billion in assets, providing liquidity management and investment management services for the three social security funds. The organization offers asset management capabilities including strategic asset allocation across multiple asset classes (money market instruments, bonds, equities, real estate, commodities), ESG integration through SVVK-ASIR membership, and systematic voting rights exercise for Swiss equities. Compenswiss publishes annual reports, activity reports, and detailed asset position lists for transparency.

Differentiator

Problem solved

Functional benefit

Products and services

• OASI (Old-Age and Survivors' Insurance) Compensation Fund Management Management of the Swiss Old-Age and Survivors' Insurance (OASI/AHV) compensation fund, holding approximately CHF 44.6 billion in assets. The fund serves as a buffer mechanism to ensure continuous payment of old-age and survivors' pensions when expenditures exceed contributions. Managed on behalf of the Swiss Confederation under the Federal Compensation Fund Act.
• InvI (Invalidity Insurance) Compensation Fund Management Management of the Swiss Invalidity Insurance (InvI/IV) compensation fund, holding approximately CHF 3.7 billion in assets. The fund covers disability insurance and serves as a buffer to ensure continuous payment of disability benefits.
• LEC (Loss of Earnings Compensation) Fund Management Management of the Swiss Loss of Earnings Compensation (LEC/EO) fund, holding approximately CHF 2.3 billion in assets. The fund covers loss of earnings compensation, including for military and civilian service.
• SVVK-ASIR Responsible Investment Membership and ESG Integration Founding membership in SVVK-ASIR (Swiss Association for Responsible Investments) providing ESG integration framework, dialogue with investee companies, and a published exclusion list for the social security fund portfolios.

Quantifiable outcome

• 7.33% positive investment result in 2024 (compared to 4.98% in 2023)
• +3 more outcomes

Named customers3 records

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.

• SVVK-ASIR (Schweizer Verein für verantwortungsbewusste Kapitalanlagen)coreStrategic or Co-development Partner · 3 December 2015SVVK-ASIR (Swiss Association for Responsible Investments) was founded on 3 December 2015 by BVK Personalvorsorge des Kantons Zürich, compenswiss, comPlan, Pensionskasse Post, Pensionskasse SBB, PUBLICA, and Suva. The founding members manage over CHF 150 billion in combined assets. The association creates maximum transparency on ESG compliance among investee companies and enables members to integrate ESG factors into risk management. SVVK-ASIR maintains a dialogue with problematic companies and publishes an exclusion list as a last resort.

Scale indicators7 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• Pictet Asset Management: Swiss-headquartered institutional asset manager and existing external mandate partner for compenswiss; comparable in delivering emerging market and Swiss equity mandates for large Swiss institutional clients.
• UBS Asset Management: Major Swiss-headquartered global asset manager and existing external mandate partner; comparable in providing institutional asset management services across multi-asset strategies to pension and sovereign-style clients.
• BlackRock: Largest global asset manager and existing external mandate partner for compenswiss; comparable in servicing large institutional asset pools with diversified multi-asset strategies, though operating at vastly larger commercial scale.
• Swiss National Bank: Sovereign Swiss institution managing official reserves with extensive asset allocation mandate; comparable as a much larger Swiss public-sector institutional asset manager operating under federal oversight with similar long-term investment horizon.

Direct peers

• comPlan: Swiss employer's pension fund for employers in the engineering and construction sectors; another SVVK-ASIR founding member operating Swiss pension fund management at institutional scale with similar governance.
• BVK Personalvorsorge des Kantons Zürich: Cantonal pension fund of Zurich and fellow SVVK-ASIR founding member; directly comparable Swiss public-sector pension fund manager of similar scale with analogous asset allocation mandate.
• PUBLICA: Federal Swiss public pension fund for federal employees; comparable as a large statutory Swiss institutional asset manager operating under public law with similar governance and ESG integration mandates.
• Pensionskasse SBB: Pension fund of Swiss Federal Railways; another SVVK-ASIR founding member managing comparable mandated pension assets under Swiss public-law governance structures.
• Suva (Swiss National Accident Insurance Fund): Swiss public-law social insurance institution and SVVK-ASIR co-founding member; comparable as a non-pension Swiss social insurance fund manager with buffer fund and asset management mandate.

Regional players

• Federal Finance Administration (EFV): Swiss federal body overseeing federal assets and debt; comparable as a larger Swiss federal financial administration role that indirectly shapes the regulatory environment for compenswiss and provides oversight through the official board representative.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/fonds-de-compensation-avs

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 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 Compenswiss