Pensionskasse der Siemens-Gesellschaften in der Schweiz

Pensionskasse der Siemens-Gesellschaften in der Schweiz

Pensionskasse der Siemens-Gesellschaften in der Schweiz was founded in 1921 to provide retirement benefits for employees of Siemens in Switzerland. Jörn Harde chairs the Board of Trustees as an employer representative, while Thomas Schmidiger serves as Managing Director. The fund operates as an autonomous Swiss pension institution with a hybrid defined-benefit and defined-contribution/cash-balance structure, separating it from the German parent company's pension arrangements. PKSGS deploys capital across three core pillars: a substantial direct Swiss real estate portfolio, global infrastructure investments, and traditional securities. The real estate book is unusually granular for an institutional investor — the fund directly owns specific residential developments including the Meilibach project in Au-Wädenswil, a mixed-use property at Tramstrasse 2–4a in Zurich-Oerlikon, and residential portfolios spanning Zurich, Zug, Dietikon, Fahrweid, Greifensee, and Horw. The infrastructure allocation extends globally. The fund does not publicly disclose its external asset manager roster, but Swiss pension peers of similar vintage typically blend passive beta with boutique active mandates across equities and fixed income, and PKSGS's participation in the Swisscanto Pension Fund Study — a prominent Swiss transparency and peer-benchmarking survey — confirms an institutional approach to monitoring relative performance. Ueli Korrodi oversees the finance and real estate functions under the investment leadership of Fausto Ciapponi. The governance structure reflects Switzerland's parity-model tradition, with employer and employee representatives on the Board of Trustees. PKSGS participates in the Swisscanto Pension Fund Study, providing its members and stakeholders a public benchmark against the broader Swiss pension landscape. Direct property ownership is the fund's structural differentiator. Most Swiss corporate pension funds outsource real estate exposure to Anlagestiftungen or listed funds. PKSGS, by contrast, owns and manages residential and mixed-use blocks outright in high-barrier Swiss cities — a posture that cuts management layers, avoids fund-level fees, and concentrates risk in assets the Trustee board can physically inspect. Succession planning for the investment function and long-term infrastructure commitments will likely define the next governance cycle as the plan matures.