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Retirement benefits


At the latest from 1 January of the year following the 24th birthday, the insured starts accruing capital to finance their retirement benefits. The statutory scale for the savings contributions rises step by step according to age. Naturally the employer is at liberty to take out extra-mandatory insurance for its employees, in which case the scale for the savings contributions would be higher than the statutory minimum and barriers such as the coordination deduction and upper BVG salary threshold will not be taken into account.

The retirement assets earn interest at an interest rate determined by the Federal Council, which is currently 1.75% p.a. The retirement assets are increased by the retirement credits, the vested benefits brought into the pension fund, any purchases of additional benefits, interest and surpluses paid by the foundation. The retirement capital is reduced by advance withdrawals under the promotion of home ownership scheme (WEF), partial payouts as a result of divorce or partial payouts on semi-retirement.

On retirement at the age of 65 (men) or 64 (women), the accrued retirement assets are converted into a lifelong pension at a conversion rate of 6.8%, i.e. CHF 1,000 in retirement assets translates into an annual pension of CHF 68.


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