Activity report 2022



compenswiss is an independent public law institution of the Confederation with its own legal personality. It is registered with the Commercial Register of the Canton of Geneva.

compenswiss is responsible for managing the assets of the Old-age and Survivors’ insurance (OASI), the Invalidity insurance (InvI) and the Loss of earnings compensation (LEC) schemes. The goals, values and organisation of the institution are described on its website

The organs of the institution are as follows:

  • Board of Directors
  • Executive Committee
  • Auditors (external)

Governance structure up to 31.12.2022

Investment Committee Audit and Personnel Committee OASI - InvI Commission Federal Council Board of Directors Executive Committee Confederation Specialised committees of the Board of Directors Internal Audit Externalised function Asset Managers FSIO FFA External Audit Central Compensation Office Custodian bank Fund Management Company Functional links Audit perimeter Investments Informational links Audit perimeter Social Insurance compenswiss bodies Social insurances External counterparties Compensation Offices

Board of Directors

Composition of the Board of Directors as at 31 December 2022

    Members of the Investment Committee as at 31 December 2022

    Members of the Audit and Personnel Committee as at 31 December 2022

    Further information on the affiliations of the compenswiss Board of Directors can be found at:

    In the year under review,

    • the Board of Directors met four times for ordinary meetings, once for an extraordinary meeting and once to discuss strategic investment issues in greater depth.
    • the Investment Committee held four regular meetings and one extraordinary meeting. The topic of the investment process was the focus of the discussions.
    • the Audit and Personnel Committee met for four ordinary meetings and one extraordinary meeting.

    Executive Committee

    Executive Committee Human Resources General Secretariat & Compliance – Legal – Compliance – Administration & Communication – Risk & Control – Performance & Risk Analytics Risk Management – Rates & Treasury – Credit, Equity & Macro Asset Management – IT-Infrastructure – IT-Analysis & Development – Finance & Accounting – Back Office – Project Manage- ment Office Operations & Finance – Portfolio Construction – External Investment Solutions Investment Solutions

    Composition of the Executive Committee as at 31 December 2022


    Remuneration of the Board of Directors and the Executive Committee

    In 2022, the total remuneration for the Board of Directors including other ancillary benefits, as determined by the Federal Council, amounted to CHF 321 308 (CHF 349 800 in 2021). The remuneration of the Executive Committee is governed by the compenswiss Personnel Ordinance. The total remuneration of the Executive Board including other ancillary benefits amounted to CHF 1 641 030 (CHF 1 607 931 in 2021), of which the Director received CHF 382 686 (CHF 375 300 in 2021) in total remuneration including other ancillary benefits.

    For more details, see the Report on the remuneration of top-level executives of the Swiss federal enterprises and institutions.


    In 2022,

    • Ernst & Young SA was the statutory external auditor of compenswiss;
    • the internal audit mandate was delegated to KPMG SA;
    • the investment control mandate was also assigned to KPMG SA.


    The investment results for compenswiss have been be announced at the annual press conference in February 2023, while the operating results have been communicated in April 2023. In addition, the regularly updated website provides accurate information on the activities of compenswiss and allows all interested parties to stay informed.

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