# Pensionskasse Alcan Schweiz

Pensionskasse Alcan Schweiz is a Pension Fund based in Bern, Switzerland.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Bern, Switzerland
- **Region:** Europe
- **Address:** Bern, Switzerland
- **Founded:** 1926
- **Assets under management:** Undisclosed
- **Website:** www.pkalcan.ch
- **LinkedIn:** https://www.linkedin.com/company/pensionskasse-alcan-schweiz

## Regulatory record

- **Reports private funds:** No

## About

Founded in 1926 as a cooperative and converted to a foundation in 1954, the Pensionskasse Alcan Schweiz delivers old-age, survivor, and disability benefits for employees of Alcan and its affiliated Swiss companies. The fund operates on a defined-benefit model, targeting retirement and disability payouts of 64% of insured salary after 40 contribution years. Sponsoring employers include Rio Tinto Alcan and Novelis Inc., the downstream aluminum-rolling business spun off from the former Alcan Inc. The fund's assets back long-duration liabilities, with residential real estate and Swiss mortgages appearing among its direct holdings. Its residential vehicle, Avadis Wohnen Schweiz, provides a domestic real-asset exposure directly aligned with the liability profile. Franz Brühlmann chairs the Board of Trustees, with Managing Director Ursula May leading day-to-day operations. The fund is a member of ASIP, the Swiss pension fund association. In June 2024, the Board of Trustees informed affected members of the new distribution plan resulting from a partial liquidation process initiated in 2011 — a proceeding where the Bernese Supervisory Authority (BVS) issued binding rulings in December 2023, with two of the original parties still pursuing appeals before the Federal Administrative Court. The fund's structural differentiator is its closed, single-sponsor heritage — a rarity as many Swiss corporate pension schemes have consolidated into collective institutions. Its board includes employer and employee representatives, and it uses Ethos-Stiftung for voting recommendations on equity holdings, embedding an external governance layer without ceding internal control.

## Sectors

- Real Estate

## People

- Ursula May — Managing Director
- Franz Brühlmann — President of the Board of Trustees

## Questions

### Is Pensionskasse Alcan Schweiz still open to new members?

The fund's membership is tied to employment at Alcan-affiliated Swiss entities, including Rio Tinto Alcan and Novelis Inc. It does not operate as an open multi-employer scheme. The 2011 partial liquidation and ongoing legal proceedings confirm that employer withdrawals can trigger membership reductions.

### How is the fund's benefit obligation structured?

It operates on a defined-benefit model, targeting 64% of insured salary as a retirement or disability benefit after 40 contribution years. This makes it distinct from defined-contribution schemes where the retirement payout depends on market returns rather than a guaranteed formula.

### What direct assets does the fund hold?

Confirmed direct holdings include Avadis Wohnen Schweiz, a residential real-estate vehicle, and a portfolio of Swiss mortgages. These domestic, Swiss-franc-denominated assets align with the fund's long-duration, liability-driven profile.

### Who provides external governance input for the fund's equity holdings?

The fund uses Ethos-Stiftung, the Swiss responsible-investment foundation, for voting recommendations on its equity holdings. This introduces an external governance filter while keeping voting authority with the Board of Trustees.

## Related profiles

- [Pension Reserve Fund](https://altss.com/profile/pension-reserve-fund)
- [Pensionskasse des Bundes PUBLICA](https://altss.com/profile/pensionskasse-des-bundes-publica)

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Last updated: 2026-08-11T02:43:31.692Z

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