The Swiss pension system is based on three pillars. The three pillar
principle (Swiss federal constitution, art. 111) is aimed at maintaining
the accustomed standard of living for insured persons or their dependants
during retirement or in the event of disability or death.
The 1st Pillar of Switzerland's welfare system consists of the Old Age and
Survivors' Insurance (AHV), Disability Insurance (IV) and other
supplementary benefits (EL). It is a mandatory, federally administered
system of insurance intended to guarantee a basic standard of living in
old age or disability and provides support for a person's surviving
dependants.
As a
Swiss employee, you are covered through the Swiss Social Security System
(Pillar I and II) for old-age, survivor’s benefits, and disability due to
illness or accident (AHV/IV), occupational old-age and disability
insurance (BVG)
provisions apply to the employer's pension fund and govern insurance
against the consequences of disability and death as a result of illness,
as well as savings for old age. The federal law on accident insurance (UVG)
contains additional regulations covering benefits in the event of
disability or death as the result of an accident, as well as the costs of
treatment following an accident.
However, especially in case of illness, you might discover a gap in
coverage which could lead to financial distress.
Later on, at the time of retirement, you could discover another surprise.
The benefits provided under the 1st and 2nd pillar
are often insufficient to guarantee your accustomed standard of living
when you retire (approx. 60% of your last income). You can compensate for
this gap in cover with your individual pension provision
To
help you in your decision making, we will prepare a personal analysis,
which consists of your personal life situation, existing insurance covers,
your needs and financial situation. The analyses builds the basis to find
the right product for you.