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Step 1: How Can I Assess My Personal Pension Situation?
Life is full of surprises, but unfortunately they are not always positive ones. You can protect yourself, your partner or your young family financially if certain events occur.
Planning Ahead for All of Life's Eventualities
Pension provision means more than saving for retirement. It is also a means of covering yourself against risks and unforeseen circumstances. Here are some examples:
- Interruption of gainful employment due to unemployment or a stay abroad
- A serious illness that may result in incapacity for work
- Disability on the part of your partner
- Relocation to a domicile abroad
- Attainment of retirement age
- Death of your spouse or partner
Such events may result in a major change in your earned income. The Swiss legal system provides for protection against such risks on a compulsory and voluntary basis.
The Swiss Pension System
Our pension system is based on three pillars. Ideally, these pillars complement each other to provide a comprehensive pension solution that meets your personal needs.
Pillar 1: The Old Age and Survivors' Insurance (AHV/AVS) and Disability Insurance (IV/AI), together with any supplementary benefits (EL) due under the state pension aim to guarantee a basic standard of living during employment and after retirement. Pillar 1 is compulsory for everyone who lives or works in Switzerland.
Pillar 2: Payments from occupational benefits insurance for employees (pension fund, BVG/LPP) and the Federal Law on Accident Insurance are normally intended to cover 60% of a person's final salary, thus enabling them to maintain their current standard of living in the event of disability or on reaching retirement age. Pillar 2 is compulsory for all employees.
Pillar 3: Pillar 3 is voluntary and allows individuals to supplement their pension to create a comprehensive pension solution that is tailored to meet their specific needs. Pillar 3 can be used as a means of closing any pension gaps from Pillars 1 and 2.
How to Assess Your Pension Situation
The following documents will help you to gain an overview of your pension situation:
- Account statement from the AHV/AVS compensation fund
- Employment contract
- Statement from your vested benefits account, vested benefits safekeeping account or vested benefits policy
- Pillar 3 account and safekeeping account statements
- Pension fund regulations
- Current annual pension fund benefits statement
- Accident/health/life insurance/daily benefits and occupational disability insurance policies
- Disposable assets (savings, securities)
You can also use our Pension Calculator for Regular Retirement or our Pension Calculator for Early Retirement.
You have now created a foundation for establishing your personal pension. Our pension advisors will be pleased to conduct an in-depth analysis and help you find appropriate pension solutions. Contact us to arrange a non-binding consultation .
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