Assets and obligations
| | | | | | | | | | | | | | | | | 31 December | CHF in millions | | 2025 | | 2024 | | | | | | | | | | | Fair value of plan assets | | 876.0 | | 851.4 | Defined benefit obligation | | (832.2) | | (859.8) | Asset ceiling | | (45.6) | | — | Total | | (1.8) | | (8.4) |
Movement in other comprehensive income
| | | | | | | | | | | | | | | | | | | | | | | | 31 December | CHF in millions | | 2025 | | 2024 | | 2023 | | | | | | | | | | | | | | | | | | Actuarial (gain)/loss due to | | | | | | | | Demographic assumptions | | — | | — | | (0.1) | | Financial assumptions | | (21.1) | | 15.5 | | 81.0 | | Experience adjustments | | 9.1 | | 39.9 | | 5.6 | | Actuarial (gain)/loss during period | | (12.0) | | 55.4 | | 86.5 | | Return on defined benefit plan assets (greater)/less than net interest recognised | | (36.5) | | (48.4) | | (18.8) | | Impact of changes in asset ceiling | | 45.6 | | — | | (37.3) | | Remeasurement effects recognised in OCI | | (2.8) | | 7.0 | | 30.4 | |
Movement in defined benefit obligations
| | | | | | | | | | | | | | | CHF in millions | | 2025 | | 2024 | | | | | | | | | | | Balance as of 1 January | | 859.9 | | 802.1 | Included in the consolidated statements of income or loss | | | | | Current service costs | | 21.0 | | 19.5 | Past service costs/(income) | | 0.1 | | (2.1) | Interest costs on defined benefit obligation | | 8.0 | | 10.5 | Administration costs and termination benefits | | 1.8 | | 1.9 | Settlements | | — | | — | | | | | | Included in consolidated statements of other comprehensive income | | | | | Actuarial (gain)/loss arising from: | | | | | Demographic assumptions | | — | | — | Financial assumptions | | (21.1) | | 15.5 | Experience adjustment | | 9.1 | | 39.9 | | | | | | Other | | | | | Employee contributions | | 19.8 | | 20.1 | Benefits paid/transferred | | (66.3) | | (47.5) | Total defined benefit obligations as of 31 December | | 832.3 | | 859.9 |
Movement in fair value of plan assets
| | | | | | | | | | | | | | | CHF in millions | | 2025 | | 2024 | | | | | | | | | | | Balance as of 1 January | | 851.4 | | 793.7 | Included in the consolidated statements of income or loss | | | | | Interest income | | 7.8 | | 10.1 | Settlements | | — | | — | | | | | | Included in consolidated statements of other comprehensive income | | | | | Return on plan assets excluding interest income | | 36.5 | | 48.4 | | | | | | Other | | | | | Employer contributions | | 26.9 | | 26.6 | Employee contributions | | 19.8 | | 20.1 | Benefits paid | | (66.3) | | (47.5) | Total fair value of plan assets as of 31 December | | 876.0 | | 851.4 |
|