Pension fund collapses into administration – covers 100k employees | World | News

Swiss multiemployer scheme Tellco Pensionskasse, which manages assets worth CHF4.88bn (about £4.3bn), has been taken over by regulators after disputes over its leadership made it impossible to run effectively. The move was ordered by Zentralschweizer BVG und Stiftungsaufsicht, which appointed WTW as administrator to stabilize the fund. Tellco said the interference was not due to financial problems but rather to “ongoing disagreements” among trustees that prevented proper management.