Swiss governor rules out SNB transfers to pension funds
Negative rates are hurting sector but pension reform is solution, Jordan says
Switzerland’s central bank chairman said it will not transfer funds to the national pension system because it would risk fulfilling its mandate.
Thomas Jordan said the Swiss National Bank’s ultra-loose monetary policy is having negative side effects on the country’s pension system. But he warned, in an October 31 speech to Swiss pension industry body the PK network, that central bank transfers would have several unwanted effects.
“For several years now, the occupational pension system has been
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