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Post-employment benefit plans (Tables)
 12 Months Ended
Dec. 31, 2022
Entity [Table]  
Disclosure Of Defined Benefit Plans Explanatory
Defined benefit plans
USD m
Swiss pension plan
UK pension plan
US and German
pension plans
Total
2022
2021
2022
2021
2022
2021
2022
2021
Defined benefit obligation at the beginning of the year
27,398
27,728
4,105
4,162
1,740
1,905
33,242
33,795
Current service cost
416
494
0
0
5
6
420
500
Interest expense
344
58
67
58
35
30
446
147
Plan participant contributions
257
266
0
0
0
0
257
266
Remeasurements
(4,151)
837
(1,474)
71
(267)
(62)
(5,891)
846
of which: actuarial (gains) / losses due to changes in demographic
 
assumptions
3
51
(6)
14
1
4
(2)
69
of which: actuarial (gains) / losses due to changes in financial
 
assumptions
(4,666)
(678)
(1,575)
(3)
(279)
(78)
(6,520)
(759)
of which: experience (gains) / losses
1
512
1,464
107
59
11
12
631
1,535
Past service cost related to plan amendments
0
0
0
0
0
4
0
4
Curtailments
(20)
(80)
0
0
0
0
(20)
(80)
Benefit payments
(1,454)
(1,097)
(123)
(148)
(111)
(112)
(1,687)
(1,357)
Other movements
(5)
0
0
0
0
1
(5)
1
Foreign currency translation
(513)
(809)
(408)
(38)
(28)
(33)
(949)
(880)
Defined benefit obligation at the
 
end of the year
22,272
27,398
2,166
4,105
1,375
1,740
25,813
33,242
of which: amounts owed to active members
11,927
14,333
65
150
169
222
12,160
14,705
of which: amounts owed to deferred members
0
0
656
1,593
528
669
1,184
2,262
of which: amounts owed to retirees
10,345
13,065
1,445
2,362
678
849
12,469
16,276
of which: funded plans
22,272
27,398
2,166
4,105
1,011
1,222
25,449
32,724
of which: unfunded plans
0
0
0
0
363
518
363
518
Fair value of plan assets at the beginning
 
of the year
33,975
32,590
4,297
4,149
1,329
1,360
39,601
38,100
Return on plan assets excluding interest income
(3,248)
2,322
(1,312)
277
(223)
40
(4,782)
2,639
Interest income
485
74
70
58
31
26
586
159
Employer contributions
 
685
763
5
0
16
16
706
779
Plan participant contributions
257
266
0
0
0
0
257
266
Benefit payments
(1,454)
(1,097)
(123)
(148)
(111)
(112)
(1,687)
(1,357)
Administration expenses, taxes and premiums paid
(12)
(13)
0
0
(3)
(4)
(16)
(17)
Other movements
(2)
0
0
0
0
1
(2)
1
Foreign currency translation
(567)
(930)
(450)
(39)
0
0
(1,017)
(969)
Fair value of plan assets
 
at the end of the year
30,119
33,975
2,488
4,297
1,039
1,329
33,646
39,601
Surplus / (deficit)
7,848
6,577
321
192
(335)
(411)
7,834
6,358
Asset ceiling effect at the beginning of the year
6,577
4,862
0
0
0
0
6,577
4,862
Interest expense on asset ceiling effect
135
15
0
0
0
0
135
15
Asset ceiling effect excluding interest expense and foreign
 
currency translation on
asset ceiling effect
1,189
1,821
0
0
0
0
1,189
1,821
Foreign currency translation
(54)
(121)
0
0
0
0
(54)
(121)
Asset ceiling effect at the end of the year
7,848
6,577
0
0
0
0
7,848
6,577
Net defined benefit asset / (liability) of
 
major plans
0
0
321
192
(335)
(411)
(14)
(219)
Net defined benefit asset / (liability) of remaining
 
plans
(100)
(112)
Total net defined benefit
 
asset / (liability)
(114)
(331)
of which: Net defined benefit asset
355
302
of which: Net defined benefit liability
2
(469)
(633)
1 Experience (gains)
 
/ losses
 
are a component
 
of actuarial remeasurements
 
of the defined
 
benefit obligation
 
and reflect
 
the effects
 
of differences between
 
the previous actuarial
 
assumptions and
 
what has actually
occurred.
 
2 Refer to Note 18c.
Income statement – expenses related
 
to defined benefit plans
1
USD m
Swiss pension plan
UK pension plan
US and German
pension plans
Total
For the year ended
31.12.22
31.12.21
31.12.22
31.12.21
31.12.22
31.12.21
31.12.22
31.12.21
Current service cost
416
494
0
0
5
6
420
500
Interest expense related to defined benefit obligation
344
58
67
58
35
30
446
147
Interest income related to plan assets
(485)
(74)
(70)
(58)
(31)
(26)
(586)
(159)
Interest expense on asset ceiling effect
135
15
0
0
0
0
135
15
Administration expenses, taxes and premiums paid
12
13
0
0
3
4
16
17
Past service cost related to plan amendments
0
0
0
0
0
4
0
4
Curtailments
(20)
(80)
0
0
0
0
(20)
(80)
Net periodic expenses recognized in net
 
profit for major plans
402
426
(3)
0
12
18
411
444
Net periodic expenses recognized in net
 
profit for remaining plans
2
25
25
Total net periodic
 
expenses recognized in net profit
437
470
1 Refer to Note 6.
 
2 Includes differences between
 
actual and estimated performance
 
award accruals.
Other comprehensive income – gains /
 
(losses) on defined benefit plans
 
USD m
Swiss pension plan
UK pension plan
US and German
pension plans
Total
For the year ended
31.12.22
31.12.21
31.12.22
31.12.21
31.12.22
31.12.21
31.12.22
31.12.21
Remeasurement of defined benefit obligation
4,151
(837)
1,474
(71)
267
62
5,891
(846)
of which: change in discount rate assumption
5,414
870
1,451
319
317
77
7,183
1,267
of which: change in rate of pension increase
 
assumption
0
0
123
(316)
(5)
(1)
118
(318)
of which: change in rate of interest credit on
 
retirement savings assumption
(718)
(193)
0
0
(82)
(1)
(800)
(194)
of which: change in life expectancy
0
0
5
9
(1)
(3)
4
5
of which: change in other actuarial assumptions
(33)
(50)
1
(23)
48
2
16
(71)
of which: experience gains / (losses)
1
(512)
(1,464)
(107)
(59)
(11)
(12)
(631)
(1,535)
Return on plan assets excluding interest income
(3,248)
2,322
(1,312)
277
(223)
40
(4,782)
2,639
Asset ceiling effect excluding interest expense and foreign
 
currency translation
(1,189)
(1,821)
0
0
0
0
(1,189)
(1,821)
Total gains / (losses) recognized
 
in other comprehensive income for major plans
(285)
(336)
162
207
43
102
(80)
(28)
Total gains / (losses) recognized
 
in other comprehensive income for remaining plans
7
30
Total gains / (losses) recognized
 
in other comprehensive income
2
(73)
2
1 Experience
 
(gains) / losses
 
are a component
 
of actuarial remeasurements
 
of the defined
 
benefit obligation
 
and reflect
 
the effects of
 
differences between
 
the previous actuarial
 
assumptions and
 
what has actually
occurred.
 
2 Refer to the “Statement
 
of comprehensive income.”
Disclosure of maturity analysis of expected benefit payments [text block]
Swiss pension plan
UK pension plan
US and German pension
plans
1
31.12.22
31.12.21
31.12.22
31.12.21
31.12.22
31.12.21
Duration of the defined benefit
 
obligation (in years)
13.1
15.1
13.7
18.8
7.9
9.5
Maturity analysis of benefits expected
 
to be paid
USD m
Benefits expected to be paid within 12 months
1,294
1,312
107
110
123
123
Benefits expected to be paid between
 
1 and 3 years
2,657
2,636
234
248
232
237
Benefits expected to be paid between
 
3 and 6 years
3,977
3,824
384
418
335
338
Benefits expected to be paid between
 
6 and 11 years
6,743
6,220
667
743
502
495
Benefits expected to be paid between
 
11 and 16 years
6,223
5,572
667
751
388
392
Benefits expected to be paid in more than 16 years
22,446
18,092
2,570
3,028
516
519
1 The duration of the
 
defined benefit obligation
 
represents a weighted average
 
across US and German
 
plans.
Disclosure of actuarial assumptions [text block]
Significant actuarial assumptions
Swiss pension plan
UK pension plan
US pension plans
German pension plans
In %
31.12.22
31.12.21
31.12.22
31.12.21
31.12.22
31.12.21
31.12.22
31.12.21
Discount rate
2.34
0.34
5.02
1.82
4.92
1
2.47
1
3.81
0.99
Rate of pension increase
0.00
0.00
3.08
3.32
0.00
0.00
2.20
1.80
Rate of interest credit on retirement savings
 
3.39
1.04
0.00
0.00
5.73
2
1.18
2
0.00
0.00
1 Represents weighted average
 
across US pension plans.
 
2 Only applicable to
 
one of the US pension plans
Disclosure Of Sensitivity Analysis For Actuarial Assumptions Explanatory
Sensitivity analysis of significant actuarial
 
assumptions
1
Increase / (decrease) in defined benefit obligation
Swiss pension plan
UK pension plan
US and German pension plans
USD m
31.12.22
31.12.21
31.12.22
31.12.21
31.12.22
31.12.21
Discount rate
Increase by 50 basis points
(1,128)
(1,695)
(141)
(361)
(51)
(78)
Decrease by 50 basis points
1,269
1,933
157
411
55
84
Rate of pension increase
Increase by 50 basis points
877
1,333
127
334
4
6
Decrease by 50 basis points
–
2
–
2
(118)
(306)
(3)
(6)
Rate of interest credit on retirement
 
savings
Increase by 50 basis points
178
224
–
3
–
3
9
8
Decrease by 50 basis points
(178)
(224)
–
3
–
3
(8)
(7)
Life expectancy
Increase in longevity by one additional year
593
915
65
184
39
56
1 The sensitivity analyses are based on a change in one assumption while
 
holding all other assumptions constant, so that interdependencies
 
between the assumptions are excluded.
 
2 As the assumed rate of pension
increase was
0
% as of 31 December 2022
 
and as of 31 December
 
2021, a downward change
 
in assumption is
 
not applicable.
 
3 As the UK plan does
 
not provide interest credits
 
on retirement savings,
 
a change in
assumption is not applicable.
Disclosure of composition and fair value of plan assets [text block]
Composition and fair value
 
of plan assets
Swiss pension plan
31.12.22
31.12.21
Fair value
Plan asset
allocation %
Fair value
Plan asset
allocation %
USD m
Quoted
in an active
market
Other
Total
Quoted
in an active
market
Other
Total
Cash and cash equivalents
326
0
326
1
187
0
187
1
Real estate / property
Domestic
0
3,783
3,783
13
0
3,530
3,530
10
Foreign
0
919
919
3
0
580
580
2
Investment funds
Equity
 
Domestic
743
0
743
2
843
0
843
2
Foreign
4,964
2,171
7,134
24
6,213
2,652
8,865
26
Bonds
1
Domestic, AAA to BBB–
3,760
0
3,760
12
4,446
0
4,446
13
Foreign, AAA
 
to BBB–
6,031
0
6,031
20
5,093
0
5,093
15
Foreign, below BBB–
1,062
0
1,062
4
1,314
0
1,314
4
Other
1,540
3,547
5,086
17
4,211
3,558
7,769
23
Other investments
624
651
1,275
4
668
682
1,349
4
Total fair value of plan
 
assets
19,049
11,071
30,119
100
22,973
11,002
33,975
100
31.12.22
31.12.21
Total fair value of plan
 
assets
30,119
33,975
of which:
2
Bank accounts at UBS
 
337
194
UBS debt instruments
50
28
UBS shares
27
25
Securities lent to UBS
3
871
1,079
Property occupied by UBS
90
93
Derivative financial instruments, counterparty
 
UBS
3
76
128
1 The bond credit
 
ratings are primarily
 
based on S&P’s credit
 
ratings. Ratings
 
AAA to BBB
 
–
 
and below
 
BBB– represent investment
 
grade and non-investment
 
grade ratings,
 
respectively.
 
In cases where
 
credit ratings
from other rating
 
agencies were
 
used, these were
 
converted to
 
the equivalent
 
rating in S&P’s
 
rating classification.
 
2 Bank
 
accounts at UBS
 
encompass accounts
 
in the
 
name of the Swiss
 
pension fund.
 
The other
positions disclosed in the table encompass both
 
direct investments in UBS instruments
 
and indirect investments, i.e., those
 
made through funds that the pension
 
fund invests in.
 
3 Securities lent to UBS and derivative
financial instruments
 
are presented
 
gross of any co
 
llateral. Securities
 
lent to UBS
 
were fully
 
covered by collateral
 
as of 31
 
December 2022
 
and 31 December
 
2021. Net
 
of collateral,
 
derivative financial
 
instruments
amounted to negative USD
8
m as of 31 December 2022
 
(31 December 2021:
 
positive USD
43
m).
Composition and fair value
 
of plan assets (continued)
UK pension plan
31.12.22
31.12.21
Fair value
Plan asset
allocation %
Fair value
Plan asset
allocation %
USD m
Quoted
in an active
market
Other
Total
Quoted
in an active
market
Other
Total
Cash and cash equivalents
104
0
104
4
147
0
147
3
Bonds
1
Domestic, AAA to BBB–
1,729
0
1,729
69
2,605
0
2,605
61
Foreign, AAA
 
to BBB–
297
0
297
12
372
0
372
9
Foreign, below BBB–
7
0
7
0
4
0
4
0
Investment funds
Equity
 
Domestic
19
3
22
1
44
4
47
1
Foreign
366
0
366
15
921
0
921
21
Bonds
1
Domestic, AAA to BBB–
367
90
457
18
532
147
679
16
Domestic, below BBB–
1
0
1
0
12
0
12
0
Foreign, AAA
 
to BBB–
90
0
90
4
179
0
179
4
Foreign, below BBB–
114
0
114
5
115
0
115
3
Real estate
Domestic
64
0
64
3
110
12
122
3
Foreign
6
31
36
1
6
34
40
1
Other
(280)
0
(280)
(11)
(313)
0
(313)
(7)
Repurchase agreements
(612)
0
(612)
(25)
(725)
0
(725)
(17)
Other investments
66
27
94
4
65
26
91
2
Total fair value of plan
 
assets
2,336
151
2,488
100
4,074
223
4,297
100
1 The bond credit
 
ratings are primarily
 
based on S&P’s credit
 
ratings. Ratings
 
AAA to BBB
 
–
 
and below
 
BBB– represent investment
 
grade and non-investment
 
grade ratings,
 
respectively. In
 
cases where
 
credit ratings
from other rating agencies were
 
used, these were converted to
 
the equivalent rating in
 
S&P’s rating
 
classification.
US and German pension
 
plans
31.12.22
31.12.21
Fair value
Plan asset
allocation %
Fair value
Plan asset
allocation %
USD m
Quoted
in an active
market
Other
Total
Quoted
in an active
market
Other
Total
Cash and cash equivalents
7
0
7
1
11
0
11
1
Equity
Domestic
55
0
55
5
79
0
79
6
Foreign
24
0
24
2
31
0
31
2
Bonds
1
Domestic, AAA to BBB–
359
0
359
35
486
0
486
37
Domestic, below BBB–
4
0
4
0
17
0
17
1
Foreign, AAA
 
to BBB–
74
0
74
7
97
0
97
7
Foreign, below BBB–
3
0
3
0
6
0
6
0
Investment funds
Equity
 
Domestic
27
0
27
3
3
0
3
0
Foreign
33
0
33
3
56
0
56
4
Bonds
1
Domestic, AAA to BBB–
266
0
266
26
269
0
269
20
Domestic, below BBB–
109
0
109
10
147
0
147
11
Foreign, AAA
 
to BBB–
2
0
2
0
11
0
11
1
Foreign, below BBB–
5
0
5
0
2
0
2
0
Real estate
Domestic
0
11
11
1
0
9
9
1
Other
54
0
54
5
99
0
99
7
Other investments
5
1
6
1
5
1
6
0
Total fair value of plan
 
assets
1,027
12
1,039
100
1,319
10
1,329
100
1 The bond credit
 
ratings are primarily
 
based on S&P’s credit
 
ratings. Ratings
 
AAA to BBB
 
–
 
and below
 
BBB– represent investment
 
grade and non-investment
 
grade ratings,
 
respectively. In
 
cases where
 
credit ratings
from other rating agencies were
 
used, these were converted to
 
the equivalent rating in
 
S&P’s rating
 
classification.
Actuarial Assumption Of Mortality Rates [Member]  
Entity [Table]  
Disclosure of actuarial assumptions [text block]
Mortality tables and life expectancies
 
for major plans
Life expectancy at age 65 for a male member currently
aged 65
aged 45
Country
Mortality table
31.12.22
31.12.21
31.12.22
31.12.21
Switzerland
BVG 2020 G with CMI 2021 projections
1
21.7
21.7
23.4
23.3
UK
S3PA with CMI 2021 projections
2
23.5
23.4
24.6
24.5
USA
Pri-2012 with MP-2021 projection scale
22.0
21.9
23.3
23.3
Germany
Dr. K. Heubeck
 
2018 G
20.6
20.5
23.4
23.2
Life expectancy at age 65 for a female member currently
aged 65
aged 45
Country
Mortality table
31.12.22
31.12.21
31.12.22
31.12.21
Switzerland
BVG 2020 G with CMI 2021 projections
1
23.5
23.4
25.1
25.0
UK
S3PA with CMI 2021 projections
2
25.0
24.9
26.4
26.3
USA
Pri-2012 with MP-2021 projection scale
23.4
23.3
24.8
24.7
Germany
Dr. K. Heubeck
 
2018 G
24.0
23.9
26.3
26.1
1 In 2021, BVG 2020 G with
 
CMI 2019 projections was
 
used.
 
2 In 2021, S3PA
 
with CMI 2020
 
projections was used.
UBS AG  
Entity [Table]  
Disclosure Of Defined Benefit Plans Explanatory
Defined benefit plans
USD m
Swiss pension plan
UK pension plan
US and German
pension plans
Total
2022
2021
2022
2021
2022
2021
2022
2021
Defined benefit obligation at the beginning of the year
15,480
15,619
4,105
4,162
1,740
1,905
21,324
21,686
Current service cost
240
285
0
0
5
6
244
291
Interest expense
195
33
67
58
35
30
297
122
Plan participant contributions
154
161
0
0
0
0
154
161
Remeasurements
(2,424)
490
(1,474)
71
(267)
(62)
(4,165)
498
of which: actuarial (gains) / losses due to changes in demographic
 
assumptions
2
26
(6)
14
1
4
(3)
45
of which: actuarial (gains) / losses due to changes in financial
 
assumptions
(2,653)
(385)
(1,575)
(3)
(279)
(78)
(4,506)
(466)
of which: experience (gains) / losses
1
226
848
107
59
11
12
344
919
Past service cost related to plan amendments
0
0
0
0
0
4
0
4
Curtailments
(13)
(49)
0
0
0
0
(13)
(49)
Benefit payments
(796)
(602)
(123)
(148)
(111)
(112)
(1,030)
(862)
Other movements
(5)
0
0
0
0
1
(5)
1
Foreign currency translation
(291)
(456)
(408)
(38)
(28)
(33)
(727)
(527)
Defined benefit obligation at the
 
end of the year
12,539
15,480
2,166
4,105
1,375
1,740
16,080
21,324
of which: amounts owed to active members
7,103
8,604
65
150
169
222
7,336
8,976
of which: amounts owed to deferred members
0
0
656
1,593
528
669
1,184
2,262
of which: amounts owed to retirees
5,436
6,876
1,445
2,362
678
849
7,560
10,086
of which: funded plans
12,539
15,480
2,166
4,105
1,011
1,222
15,717
20,806
of which: unfunded plans
0
0
0
0
363
518
363
518
Fair value of plan assets at the beginning
 
of the year
19,196
18,358
4,297
4,149
1,329
1,360
24,821
23,867
Return on plan assets excluding interest income
(1,942)
1,319
(1,312)
277
(223)
40
(3,476)
1,637
Interest income
274
42
70
58
31
26
376
127
Employer contributions
 
401
450
5
0
16
16
422
466
Plan participant contributions
154
161
0
0
0
0
154
161
Benefit payments
(796)
(602)
(123)
(148)
(111)
(112)
(1,030)
(862)
Administration expenses, taxes and premiums paid
(7)
(8)
0
0
(3)
(4)
(11)
(11)
Other movements
(1)
0
0
0
0
1
(1)
1
Foreign currency translation
(322)
(524)
(450)
(39)
0
0
(772)
(563)
Fair value of plan assets
 
at the end of the year
16,957
19,196
2,488
4,297
1,039
1,329
20,484
24,821
Surplus / (deficit)
4,418
3,716
321
192
(335)
(411)
4,404
3,497
Asset ceiling effect at the beginning of the year
3,716
2,739
0
0
0
0
3,716
2,739
Interest expense on asset ceiling effect
77
8
0
0
0
0
77
8
Asset ceiling effect excluding interest expense and foreign
 
currency translation on
asset ceiling effect
656
1,037
0
0
0
0
656
1,037
Foreign currency translation
(31)
(68)
0
0
0
0
(31)
(68)
Asset ceiling effect at the end of the year
4,418
3,716
0
0
0
0
4,418
3,716
Net defined benefit asset / (liability) of
 
major plans
0
0
321
192
(335)
(411)
(14)
(219)
Net defined benefit asset / (liability) of remaining
 
plans
(80)
(96)
Total net defined benefit
 
asset / (liability)
(94)
(315)
of which: Net defined benefit asset
355
302
of which: Net defined benefit liability
2
(449)
(617)
1 Experience (gains)
 
/ losses
 
are a component
 
of actuarial remeasurements
 
of the defined
 
benefit obligation
 
and reflect
 
the effects
 
of differences between
 
the previous actuarial
 
assumptions and
 
what has actually
occurred.
 
2 Refer to Note 18c.
Income statement – expenses related
 
to defined benefit plans
1
USD m
Swiss pension plan
UK pension plan
US and German
pension plans
Total
For the year ended
31.12.22
31.12.21
31.12.22
31.12.21
31.12.22
31.12.21
31.12.22
31.12.21
Current service cost
240
285
0
0
5
6
244
291
Interest expense related to defined benefit obligation
195
33
67
58
35
30
297
122
Interest income related to plan assets
(274)
(42)
(70)
(58)
(31)
(26)
(376)
(127)
Interest expense on asset ceiling effect
77
8
0
0
0
0
77
8
Administration expenses, taxes and premiums paid
7
8
0
0
3
4
11
11
Past service cost related to plan amendments
0
0
0
0
0
4
0
4
Curtailments
(13)
(49)
0
0
0
0
(13)
(49)
Net periodic expenses recognized in net
 
profit for major plans
230
243
(3)
0
12
18
239
261
Net periodic expenses recognized in net
 
profit for remaining plans
2
17
19
Total net periodic
 
expenses recognized in net profit
256
280
1 Refer to Note 6.
 
2 Includes differences between
 
actual and estimated performance
 
award accruals.
Other comprehensive income – gains /
 
(losses) on defined benefit plans
 
USD m
Swiss pension plan
UK pension plan
US and German
pension plans
Total
For the year ended
31.12.22
31.12.21
31.12.22
31.12.21
31.12.22
31.12.21
31.12.22
31.12.21
Remeasurement of defined benefit obligation
2,424
(490)
1,474
(71)
267
62
4,165
(498)
of which: change in discount rate assumption
3,078
494
1,451
319
317
77
4,846
890
of which: change in rate of pension increase
 
assumption
0
0
123
(316)
(5)
(1)
118
(318)
of which: change in rate of interest credit on
 
retirement savings assumption
(408)
(110)
0
0
(82)
(1)
(490)
(110)
of which: change in life expectancy
0
0
5
9
(1)
(3)
4
5
of which: change in other actuarial assumptions
(19)
(26)
1
(23)
48
2
30
(47)
of which: experience gains / (losses)
1
(226)
(848)
(107)
(59)
(11)
(12)
(344)
(919)
Return on plan assets excluding interest income
(1,942)
1,319
(1,312)
277
(223)
40
(3,476)
1,637
Asset ceiling effect excluding interest expense and foreign
 
currency translation
(656)
(1,037)
0
0
0
0
(656)
(1,037)
Total gains / (losses) recognized
 
in other comprehensive income for major plans
(173)
(207)
162
207
43
102
32
102
Total gains / (losses) recognized
 
in other comprehensive income for remaining plans
8
31
Total gains / (losses) recognized
 
in other comprehensive income
2
40
133
1 Experience
 
(gains) / losses
 
are a component
 
of actuarial remeasurements
 
of the defined
 
benefit obligation
 
and reflect
 
the effects of
 
differences between
 
the previous actuarial
 
assumptions and
 
what has actually
occurred.
 
2 Refer to the “Statement
 
of comprehensive income.”
Disclosure of maturity analysis of expected benefit payments [text block]
Swiss pension plan
UK pension plan
US and German pension
plans
1
31.12.22
31.12.21
31.12.22
31.12.21
31.12.22
31.12.21
Duration of the defined benefit
 
obligation (in years)
13.4
15.5
13.7
18.8
7.9
9.5
Maturity analysis of benefits expected
 
to be paid
USD m
Benefits expected to be paid within 12 months
702
719
107
110
123
123
Benefits expected to be paid between
 
1 and 3 years
1,445
1,440
234
248
232
237
Benefits expected to be paid between
 
3 and 6 years
2,183
2,097
384
418
335
338
Benefits expected to be paid between
 
6 and 11 years
3,751
3,467
667
743
502
495
Benefits expected to be paid between
 
11 and 16 years
3,519
3,156
667
751
388
392
Benefits expected to be paid in more than 16 years
13,243
10,733
2,570
3,028
516
519
1 The duration of the
 
defined benefit obligation
 
represents a weighted average
 
across US and German
 
plans.
Disclosure of actuarial assumptions [text block]
Significant actuarial assumptions
Swiss pension plan
UK pension plan
US pension plans
German pension plans
In %
31.12.22
31.12.21
31.12.22
31.12.21
31.12.22
31.12.21
31.12.22
31.12.21
Discount rate
2.34
0.34
5.02
1.82
4.92
1
2.47
1
3.81
0.99
Rate of pension increase
0.00
0.00
3.08
3.32
0.00
0.00
2.20
1.80
Rate of interest credit on retirement savings
 
3.39
1.04
0.00
0.00
5.73
2
1.18
2
0.00
0.00
1 Represents weighted average
 
across US pension plans.
 
2 Only applicable to
 
one of the US pension plans
Disclosure Of Sensitivity Analysis For Actuarial Assumptions Explanatory
Sensitivity analysis of significant actuarial
 
assumptions
1
Increase / (decrease) in defined benefit obligation
Swiss pension plan
UK pension plan
US and German pension plans
USD m
31.12.22
31.12.21
31.12.22
31.12.21
31.12.22
31.12.21
Discount rate
Increase by 50 basis points
(641)
(975)
(141)
(361)
(51)
(78)
Decrease by 50 basis points
723
1,116
157
411
55
84
Rate of pension increase
Increase by 50 basis points
487
749
127
334
4
6
Decrease by 50 basis points
–
2
–
2
(118)
(306)
(3)
(6)
Rate of interest credit on retirement
 
savings
Increase by 50 basis points
106
134
–
3
–
3
9
8
Decrease by 50 basis points
(106)
(134)
–
3
–
3
(8)
(7)
Life expectancy
Increase in longevity by one additional year
304
475
65
184
39
56
1 The sensitivity analyses are based on a change in one assumption while
 
holding all other assumptions constant, so that interdependencies
 
between the assumptions are excluded.
 
2 As the assumed rate of pension
increase was
0
% as of 31 December 2022
 
and as of 31 December
 
2021, a downward change
 
in assumption is
 
not applicable.
 
3 As the UK plan does
 
not provide interest credits
 
on retirement savings,
 
a change in
assumption is not applicable.
Disclosure of composition and fair value of plan assets [text block]
Composition and fair value
 
of plan assets
Swiss pension plan
31.12.22
31.12.21
Fair value
Plan asset
allocation %
Fair value
Plan asset
allocation %
USD m
Quoted
in an active
market
Other
Total
Quoted
in an active
market
Other
Total
Cash and cash equivalents
183
0
183
1
106
0
106
1
Real estate / property
Domestic
0
2,130
2,130
13
0
1,994
1,994
10
Foreign
0
517
517
3
0
328
328
2
Investment funds
Equity
 
Domestic
418
0
418
2
476
0
476
2
Foreign
2,794
1,222
4,017
24
3,510
1,498
5,009
26
Bonds
1
Domestic, AAA to BBB–
2,117
0
2,117
12
2,512
0
2,512
13
Foreign, AAA
 
to BBB–
3,395
0
3,395
20
2,877
0
2,877
15
Foreign, below BBB–
598
0
598
4
742
0
742
4
Other
867
1,997
2,864
17
2,379
2,010
4,389
23
Other investments
351
367
718
4
377
385
762
4
Total fair value of plan
 
assets
10,724
6,233
16,957
100
12,980
6,216
19,196
100
31.12.22
31.12.21
Total fair value of plan
 
assets
16,957
19,196
of which:
2
Bank accounts at UBS AG
189
109
UBS AG debt instruments
28
16
UBS Group AG shares
15
14
Securities lent to UBS AG
3
489
608
Property occupied by UBS
51
52
Derivative financial instruments, counterparty
 
UBS AG
3
43
72
1 The bond credit ratings
 
are primarily based
 
on S&P’s credit
 
ratings. Ratings
 
AAA to BBB–
 
and below BBB
 
–
 
represent investment
 
grade and non-investment
 
grade ratings,
 
respectively. In
 
cases where credit ratings
from other rating agencies were
 
used, these were converted to
 
the equivalent rating in
 
S&P’s rating classification.
 
2 Bank accounts at
 
UBS AG encompass accounts
 
in the name of the Swiss
 
pension fund. The
 
other
positions disclosed
 
in the
 
table encompass
 
both direct
 
investments in
 
UBS AG
 
instruments
 
and
 
UBS Group
 
AG shares
 
and indirect
 
investments,
 
i.e.,
 
those
 
made through
 
funds that
 
the pension
 
fund invests
 
in.
 
3 Securities lent to UBS
 
AG and derivative
 
financial instruments
 
are presented gross
 
of any collateral. Securities
 
lent to UBS AG
 
were fully covered
 
by collateral as of
 
31 December 2022
 
and 31 December 2021.
 
Net
of collateral, derivative financial
 
instruments amounted to
 
negative USD
5
m as of 31 December 2022
 
(31 December 2021:
 
positive USD
24
m).
Composition and fair value
 
of plan assets (continued)
UK pension plan
31.12.22
31.12.21
Fair value
Plan asset
allocation %
Fair value
Plan asset
allocation %
USD m
Quoted
in an active
market
Other
Total
Quoted
in an active
market
Other
Total
Cash and cash equivalents
104
0
104
4
147
0
147
3
Bonds
1
Domestic, AAA to BBB–
1,729
0
1,729
69
2,605
0
2,605
61
Foreign, AAA
 
to BBB–
297
0
297
12
372
0
372
9
Foreign, below BBB–
7
0
7
0
4
0
4
0
Investment funds
Equity
 
Domestic
19
3
22
1
44
4
47
1
Foreign
366
0
366
15
921
0
921
21
Bonds
1
Domestic, AAA to BBB–
367
90
457
18
532
147
679
16
Domestic, below BBB–
1
0
1
0
12
0
12
0
Foreign, AAA
 
to BBB–
90
0
90
4
179
0
179
4
Foreign, below BBB–
114
0
114
5
115
0
115
3
Real estate
Domestic
64
0
64
3
110
12
122
3
Foreign
6
31
36
1
6
34
40
1
Other
(280)
0
(280)
(11)
(313)
0
(313)
(7)
Repurchase agreements
(612)
0
(612)
(25)
(725)
0
(725)
(17)
Other investments
66
27
94
4
65
26
91
2
Total fair value of plan
 
assets
2,336
151
2,488
100
4,074
223
4,297
100
1 The bond credit ratings
 
are primarily based
 
on S&P’s credit
 
ratings. Ratings
 
AAA to BBB–
 
and below BBB
 
–
 
represent investment
 
grade and non-investment
 
grade ratings,
 
respectively. In
 
cases where credit ratings
from other rating agencies were
 
used, these were converted
 
to the equivalent rating
 
in S&P’s rating
 
classification.
US and German pension
 
plans
31.12.22
31.12.21
Fair value
Plan asset
allocation %
Fair value
Plan asset
allocation %
USD m
Quoted
in an active
market
Other
Total
Quoted
in an active
market
Other
Total
Cash and cash equivalents
7
0
7
1
11
0
11
1
Equity
Domestic
55
0
55
5
79
0
79
6
Foreign
24
0
24
2
31
0
31
2
Bonds
1
Domestic, AAA to BBB–
359
0
359
35
486
0
486
37
Domestic, below BBB–
4
0
4
0
17
0
17
1
Foreign, AAA
 
to BBB–
74
0
74
7
97
0
97
7
Foreign, below BBB–
3
0
3
0
6
0
6
0
Investment funds
Equity
 
Domestic
27
0
27
3
3
0
3
0
Foreign
33
0
33
3
56
0
56
4
Bonds
1
Domestic, AAA to BBB–
266
0
266
26
269
0
269
20
Domestic, below BBB–
109
0
109
10
147
0
147
11
Foreign, AAA
 
to BBB–
2
0
2
0
11
0
11
1
Foreign, below BBB–
5
0
5
0
2
0
2
0
Real estate
Domestic
0
11
11
1
0
9
9
1
Other
54
0
54
5
99
0
99
7
Other investments
5
1
6
1
5
1
6
0
Total fair value of plan
 
assets
1,027
12
1,039
100
1,319
10
1,329
100
1 The bond credit ratings
 
are primarily based
 
on S&P’s credit
 
ratings. Ratings
 
AAA to BBB–
 
and below BBB
 
–
 
represent investment
 
grade and non-investment
 
grade ratings,
 
respectively. In
 
cases where credit ratings
from other rating agencies were
 
used, these were converted
 
to the equivalent rating
 
in S&P’s rating
 
classification.
UBS AG | Actuarial Assumption Of Mortality Rates [Member]  
Entity [Table]  
Disclosure of actuarial assumptions [text block]
Mortality tables and life expectancies
 
for major plans
Life expectancy at age 65 for a male member currently
aged 65
aged 45
Country
Mortality table
31.12.22
31.12.21
31.12.22
31.12.21
Switzerland
BVG 2020 G with CMI 2021 projections
1
21.7
21.7
23.4
23.3
UK
S3PA with CMI 2021 projections
2
23.5
23.4
24.6
24.5
USA
Pri-2012 with MP-2021 projection scale
22.0
21.9
23.3
23.3
Germany
Dr. K. Heubeck
 
2018 G
20.6
20.5
23.4
23.2
Life expectancy at age 65 for a female member currently
aged 65
aged 45
Country
Mortality table
31.12.22
31.12.21
31.12.22
31.12.21
Switzerland
BVG 2020 G with CMI 2021 projections
1
23.5
23.4
25.1
25.0
UK
S3PA with CMI 2021 projections
2
25.0
24.9
26.4
26.3
USA
Pri-2012 with MP-2021 projection scale
23.4
23.3
24.8
24.7
Germany
Dr. K. Heubeck
 
2018 G
24.0
23.9
26.3
26.1
1 In 2021, BVG 2020 G with
 
CMI 2019 projections was
 
used.
 
2 In 2021, S3PA
 
with CMI 2020
 
projections was used.