Fig. 6
From: Swiss pension funds: funding ratio, discount rate, and asset allocation
Aggregated Gross Excess Funding and Shortfall.Aggregated gross and net excess funding and shortfall, based on technical pension liabilities (Technical) and pension liabilities determined at market rates (Econonomic). Economic funding shortfall and excess based on retiree pension liabilites evaluated at market interest rates approximated with conversion factors retrieved from PPCmetrics, (2020). The sample includes only private and public funds without state guarantees, and only includes funds with a funding ratio between 81.5 and 152.3% (0.5th–95th percentile range of the overall sample)