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AXA Foundation for Occupational Benefits About the foundation

Switzerland’s largest semi-autonomous collective foundation offers insureds multiple advantages: higher returns with high security. Plus a very good cost-benefit ratio.

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AXA Foundation for Occupational Benefits

With over 230,000 insureds at more than 41,000 insured companies, the AXA Foundation for Occupational Benefits is the largest semi-autonomous collective foundation in Switzerland. It provides secure occupational benefits (retirement, survivors’ and disability benefits) for affiliated companies and manages assets totaling over CHF 36 billion. The Professional Invest solution from the AXA Foundation for Occupational Benefits provides benefits for insureds that go well beyond the minimum legal requirements in some cases.

Investment strategy and implementation

  • The Board of Trustees defines the investment strategy; the collective foundation with its affiliated pension funds bears the investment risk.
  • The assets are managed by AXA's Asset Management team.

Protection of pension benefits

  • Benefits due if an insured person becomes disabled or dies before they reach the reference age (formerly: normal retirement age) are reinsured with AXA Life Ltd.
  • The Foundation pays the retirement benefits and the associated survivors pensions in the event of the insured person’s death after they have reached the reference age (formerly: normal retirement age).

Attractive interest rates

  • The interest model determined by the Board of Trustees increases transparency and the ability to plan for affiliated customers.
  • The interest paid on retirement assets is based on the expected coverage ratio at the end of the year.

Administration and management

  • Management and AXA Life Ltd. 

History 

The AXA Foundation for Occupational Benefits has a long and successful history. The foundation was established on June 8, 1984 as the “Winterthur” Foundation for mandatory occupational benefits to offer companies a solution for obligatory occupational pension insurance. Until the end of 2018, it was run as a full-value insurance foundation. It became a semi-autonomous foundation on January 1, 2019. Since then, the AXA Foundation for Occupational Benefits has borne the responsibility for investing its assets and has provided retirement and surviving dependents’ benefits independently. This solution offers the potential for better investment returns, higher interest on the retirement assets, and therefore higher benefits in old age and higher vested benefits – with a high level of security, as before. Employers  and their employees benefit from a far better cost-benefit ratio because they pay lower risk contributions for their pension solution.

Strategy and vision

For the AXA Foundation for Occupational Benefits, financial stability is essential to guaranteeing added value for its insured members. It aims to achieve attractive rates of interest for pension assets and a price/performance ratio in line with the market. Stability of the assets and offering insureds an attractive return are particularly important to us. 

The Board of Trustees has defined five strategic areas of focus: 

  • Attractive and sustainable interest on retirement assets
  • Strict risk control and monitoring of investments 
  • Increased governance of the foundation
  • Improved transparency for all the insured
  • Low administrative costs thanks to efficient management

Organization of the foundation

The Board of Trustees is the supreme governing body and carries responsibility in the AXA Foundation for Occupational Benefits. It determines and monitors the strategy, is responsible for managing the investments, and also ensures the foundation's sustainable approach and independence. The prime focus is its obligations to beneficiaries. 

The Board of Trustees has entrusted AXA Life Ltd. with the management of the foundation. AXA Life Ltd. is responsible for the operational management and implementation of the investment strategy and guarantees direct and transparent communication with beneficiaries and companies.

Board of Trustees

The Board of Trustees comprises eight members. It has an equal number of employee and employer representatives. Elections to the Board of Trustees are held every four years.  

For the present term of office from January 1, 2025 to December 31, 2028 the eight members  of the Board of Trustees are:

  • Christoph Senti

    Christoph Senti (Chair)

    Employer representative

    Christoph Senti AG, Altstätten
    Partner

    “Together, we guarantee solid and prudent long-term management of the Foundation for Occupational Benefits.”

    Curriculum vitae
  • Christoph Burkhalter

    Christoph Burkhalter (Vice Chair)

    Employee representative

    Avaloq Group AG, Zurich
    Senior Service Owner – Platform Services

    “Long-term security is vital to occupational benefits insurance. Our assets should not be put at risk by bad strategies or redistribution between generations, which is not how the system is supposed to work.”

    Curriculum vitae
  • Corinne Antonica-Schönenberger

    Corinne Antonica-Schönenberger

    Employer representative

    Antonica.Management GmbH, Erlenbach
    Partner and Managing Director

    “Regardless of the constant increase in regulation and complexity, the focus must remain on the goal and purpose of occupational benefits insurance (cover for the risks of old age, death, and disability).”

  • Patrick Bundeli

    Patrick Bundeli

    Employer representative

    INTERSPORT (Switzerland) AG, Bern
    CFO

    “Despite the challenges brought by demographic and economic developments, insureds need to be able to rely on a pension fund that is stable over the long term.”

  • Alexia Rambosson

    Alexia Rambosson

    Employer representative

    A. Rambosson AG, Zurich
    Partner

    “Strong governance is a key element in the reliability and stability of a pension fund.”

  • Hanspeter Herger

    Hanspeter Herger

    Employee representative

    x-plus services gmbh, Engelberg
    Mandate Manager

    “Occupational benefits provision is facing major demographic, regulatory, and financial challenges. Solid occupational benefits are essential.”

    Curriculum vitae
  • Bodo Möller

    Bodo Möller

    Employee representative

    Google Switzerland GmbH, Zurich
    Software Engineer

    “To offer good benefits over the long term, our Foundation must always strike the right balance between taking advantage of opportunities and seeking security.”

    Curriculum vitae
  • Csilla Schreiber-Orosz

    Csilla Schreiber-Orosz

    Employee representative

    PartnerRe Holdings Europe Ltd., Zurich
    Senior Underwriter Financial Risk

    “A diversified investment strategy is a central part of securing an optimum return for appropriate risk.”

Committees and governance

Investment Committee 

The Investment Committee is responsible for realizing the long-term investment strategy set by the Board of Trustees. It monitors liquidity and the investment plan and drafts the investment rules. 

Liability Committee 

The Liability Committee monitors the Foundation's financial situation and development to ensure that its obligations in respect of its insured members are met at all times.

Governance Committee

The Governance Committee oversees the statutory, regulatory and contractual conditions, for example, the expediency of the organization and the management.  

Management

The management is responsible for the operational management of the foundation, advises the Board of Trustees on strategic issues, and bears the responsibility for implementing the decisions of the Board of Trustees. It comprises three members appointed by the Board of Trustees. 

  • Sandra Gisin

    Sandra Gisin

    Managing Director of the AXA Foundation for Occupational Benefits

    Sandra Gisin has been Managing Director of the AXA Foundation of Occupational Benefits since September 2020. She was previously head of the operational management and customer relationship management department at AXA Life Ltd. As former Vice-President of the Board of Trustees of the AHV/IV/EO compensation fund in Geneva and former Managing Director of the Foundation for Flexible Retirement (FAR), Sandra Gisin has many years’ experience in various areas of pension provision.

  • Franziskus Dürr

    Franziskus Dürr

    Deputy Managing Director of the AXA Foundation for Occupational Benefits

    Franziskus Dürr has been Deputy Managing Director of the AXA Foundation of Occupational Benefits since February 2024. He has worked at AXA since 2010 and has previously held various roles in risk management and occupational benefits. He has in-depth knowledge of actuarial matters, investments and product design.

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