The BVG/LPP & Foundation Supervisory Authority for Central Switzerland (Zentralschweizer BVG- und Stiftungsaufsicht ZBSA) has appointed WTW AG as the official administrator of the Tellco pk collective foundation with immediate effect. There will be no changes in day-to-day operations for affiliated employers, insured persons and sales partners. Operations will continue as normal and the usual contacts will be available. All benefits, contribution payments and contractual obligations will be fulfilled as usual.
Following a thorough review, the ZBSA has appointed an official administration to ensure orderly management of the foundation and reliable decision-making processes. The background to this was persistent differences of opinion within the Board of Trustees of Tellco pk which made the proper management of the pension fund impossible. The measure thus relates to the governance of the Board of Trustees of Tellco pk and is not financially motivated.
Since the beginning of 2026, Tellco pk’s business performance has developed positively. In the first quarter, the volume of new affiliations increased by 30% compared to the previous year, with a coverage ratio of 106.3%. The foundation is on a stable path.
WTW AG is assuming the duties of the Board of Trustees of Tellco pk on an interim basis. Its mandate is to fulfil the statutory executive responsibility of the Board of Trustees, ensure the management of the foundation and restore stable and sustainable decision-making processes within the Board of Trustees. The primary objective is to safeguard the interests of the insured persons and to ensure the proper operation of the foundation in the long term.
With over 35 years of experience in the Swiss pension market, WTW AG has proven expertise in the management of pension funds. It advises pension funds and employers in all matters relating to occupational pensions – from financing, risk management, actuarial services, investments, governance and law to brokerage. WTW AG is economically and organisationally independent of the foundation’s former governing bodies and any involved third parties. There are no conflicts of interest.