The continuing rise in life expectancy and historically low or even negative interest rates pose a major challenge for pension funds. Pensions must be paid for an increasingly long time, while at the same time the return on assets is declining sharply. Having adapted the invest-ment strategy to the new investment climate some time ago, the Board of Trustees has now decided to take steps on the benefits and contributions side to ensure the financial and struc-tural stability of the Schindler Pension Fund in the long term.
The Fund's new direction will be achieved by adjusting the actuarial foundations on which it rests. Meanwhile, compensation measures are planned to soften the effects on future bene-fits as much as possible. The revision covers the following points, in particular: