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Actually, it’s the idea behind the 3-pillar principle in old-age service provision: thanks to pillars 2 and 3 of AHV, it should be possible to more or less maintain the standard of living even after retirement. Also because expenses decrease somewhat in old age, for example because the children have moved and finance their own lives.
But provision for old age has become one of the biggest concerns in Switzerland in recent years: three out of four people now expect to have to lower their standard of living after retirement. Sixty-one percent of those surveyed have a stomach ache, they fear too low a pension. This is shown by a survey by the health insurance company Groupe Mutuel.
I’m not in the mood for change
The three-pillar system for the provision of old-age services was established in the Federal Constitution in 1972. Life expectancy has increased significantly since then. Demographic development now means that fewer and fewer taxpayers have to pay for more and more recipients. This is primarily a problem for the AHV, pension funds are struggling above all with low interest rates – safe investments hardly generate any returns anymore.
Therefore, a reform of the system is necessary. However, changes to the occupational pension plan repeatedly generate reserves and have failed several times in recent years.
This is also shown in this survey. The Swiss population is skeptical of the reform proposals. 74 percent of those surveyed reject an increase in the retirement age. Slightly more than half of the Swiss also speak out against reducing the conversion rate on the BVG.
The system needs to be adjusted
This rate determines how high the pension of the retirement capital saved really is. If it is too high, current pension payments are made at the expense of future generations.
“We have to get the Swiss to better understand all aspects of the conversion rate,” says Thomas Boyer, CEO of Groupe Mutuel. “Reforms in retirement pensions are necessary. For example, people with low wages and part-time workers, including many women, are now at a disadvantage. ”Therefore, the system must adapt to current ways of living and working.
