Pensionskasse Schweizerische Rettungsflugwacht

Pensionskasse Schweizerische Rettungsflugwacht

The Pensionskasse Schweizerische Rettungsflugwacht serves as the retirement vehicle for Rega, the Swiss air-ambulance nonprofit that operates from 13 helicopter bases and a jet fleet at Zurich Airport. The fund is managed alongside the Wohlfahrtsfonds der Schweizerischen Rettungsflugwacht Rega, a welfare fund for the same employee base, with Roger Mohr acting as managing director for both entities and Rega CEO Ernst Kohler sitting on the board. The portfolio is built around physical assets that generate long-term, predictable cash flows. Known allocations include a commitment to the Swiss Life Investment Foundation - Real Estate Switzerland Retirement and Healthcare ESG, a mixed-use vehicle focused on domestic healthcare properties, and a European infrastructure debt portfolio. The fund favors Switzerland and the broader European continent — matching the geographic footprint of Rega’s own rescue operations — and avoids the higher-volatility venture and growth-stage commitments that many Swiss pension funds have added in the last decade. The fund operates from the Rega Center at Zurich Airport and has publicly disclosed no separate headcount beyond the shared governance with the welfare fund. In December 2025, Rega submitted a planning application for a new headquarters in Kägiswil, Canton Obwalden, signaling operational expansion that may affect long-term pension-liability assumptions. The pension fund also appears alongside the Fondation La Clairière - les Curnilles and the Ilse und Kurt Rüdiger-Stiftung in governance filings, though the nature and separation of those relationships are not detailed in public disclosures. The structural differentiator is the narrowness of the mandate. Unlike diversified Swiss Pensionskassen that pool employers across industries, this fund exists solely for Rega’s pilots, paramedics, and support staff — making its liability profile highly correlated with the operating risks of one air-rescue organization. That concentration puts unusual pressure on asset duration and liquidity, reinforcing the tilt toward real estate and infrastructure debt rather than public-equity beta.