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“As a 42-year-old employee with a gross salary of CHF 117,000 and a minimum amount of the Swiss Life BVG collective fund, I can expect a capital of almost CHF 347,000 in 2045 or an annual pension of CHF 22,625. Can’t be.”
A reader recently wrote me this and asked what advice I would give him or his employer. His boss has no idea about pensions, but is open to suggestions.
The company in question has a full insurance contract with Swiss Life. Thus, the insurer always guarantees 100% coverage of the credit balance and therefore can only invest money very conservatively. Yields are correspondingly low.
It will be useful to receive proposals from autonomous collective funds. In addition, you must ensure that the new contract includes additional mandatory benefits in addition to the mandatory minimum benefits. This means that higher employee contributions and higher employer contributions must be paid. Doesn’t work without it. The boss must be ready for this.
You can twist it however you want: Someone who is only insured in the 2nd pillar on the mandatory minimum must create a strong third pillar, accept a noble inheritance, marry a rich partner, or be prepared for the fact that he cannot break. ropes in old age.
“Or just give up and change employers?” the reader also asks me. Well, here we come to the point: a man earns 117,000 francs. Did he ask about pension fund benefits when applying for a job and during salary negotiations? Probably not. Just like the vast majority of the population.
I have heard that more and more women and men are also bringing up the issue of occupational pensions in job interviews. But they are still in the minority. Pension fund benefits are by far the most important fringe benefits.
The contribution of the employer should be especially taken into account. Does it comply with a legal obligation or is it outside of it? Does the employer pay a little more or the same as the employee? Of all pension fund assets in Switzerland, only about 40 percent have been retained under the mandatory plan; 60 percent are optional. You can roughly estimate what it means to be insured only at the mandatory minimum.
No, the benefits of pension funds are rarely discussed in job interviews. More and more men are expressing a desire to work part-time. You are advised not to ask about old age benefits. Otherwise, they may deviate from their ideal of part-time work.
Source: Blick
I am David Miller, a highly experienced news reporter and author for 24 Instant News. I specialize in opinion pieces and have written extensively on current events, politics, social issues, and more. My writing has been featured in major publications such as The New York Times, The Guardian, and BBC News. I strive to be fair-minded while also producing thought-provoking content that encourages readers to engage with the topics I discuss.
