Annual Report 2025

In the 2025 financial year, the GEMINI Collective Foundation established the conditions necessary for its operational independence. Preparations included organisational and structural measures, as well as the selection of a new location. Located in a central area of Zurich, the new offices on Bärengasse, just off Paradeplatz, are easily accessible. The transition to operational independence will take place on 1 July 2026.

The actuarial interest rate for employee benefits unit Pensions 2 was reduced by 0.25% as of 31 December 2025. Reasons for this include the conservative investment strategy, falling interest rates and the fact that no more contributions are being received, as there are no active employers left for this portfolio of pensioners.

In 2025, pool strategies show a clear shift towards higher equity components. While volumes are declining in more defensive pools, holdings in pools with a higher equity component are growing.

This trend shows that customers are increasingly making use of the option to combine different pools.

Pool 0: 40.2 million (2024) → 24.6 million (2025)

Pool 25: 1.98 billion (2024) → 1.77 billion (2025)

Pool 35: 1.29 billion (2024) → 1.56 billion (2025)

Pool 50: 211.5 million (2024) → 268.6 million (2025)

Karlo Barac has been Head of Sales at the GEMINI Collective Foundation since July 2025. Leading a team of seven, he is responsible for acquiring new clients and further developing the organisation’s sales activities.

René Zehnder has been an actuary at the GEMINI Collective Foundation since August 2025. In this role, he is responsible for assessing the Foundation’s financial position and ensuring its long-term stability. He also advises the Management Board and the Foundation Board on strategic and financial matters.