The three pillar system in Switzerland
The basis of the social security and pension system in Switzerland rests on three pillars
1st Pillar: Public Social Security, mandatory for everyone.
Funded by a distribution system, the first pillar guarantees the minimum vital coverage for retirement, invalidity and death
It is always an insurance, but public, and is composed of
AHV: Old Age and Survivors Insurance
IV: Disability insurance
IC: Income Compensation Insurance
The ordinary retirement age is set at 64 for women and 65 for men.
2nd Pillar: BVG Occupational Pensions, compulsory for employees, optional for independents
Unlike the first pillar, the second is based on a capitalization system, and therefore everyone saves for himself.
At retirement, the insured can choose between receiving a life annuity, the withdrawal of the accumulated capital, or a mix of both.
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3rd pillar: Optional supplementary pension
The third pillar is the tool to complete the first two pillars, and it is essential to achieve the same standard of living that we had before retirement. Furthermore, the third pillar is tax deductible, with limits that change over time, and therefore brings us a considerable tax advantage. Within the third pillar, in addition to accumulating retirement capital, we can include benefits in the event of disability and death, so as to protect you and your family. In this way, you will be sure to reach your goal, always and in any case.
To know how you are covered with each pillar, it is important to analyze your situation
With a social security analysis, we will show you, with simple graphs, how you recieve from each pillar in case of retirement, disability and death. In this way, you can sleep in peaceful dreams, with the certainty of being covered in the right way.
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