Personal pension certificate

Valid from

Reference date for the values shown in your insurance certificate. This means that all values and forecasts are effective as of this date.

Information on the employer and key reference numbers

Here, you will find key information and numbers that we require for administrative processing. In particular, you should include the agreement number and the policyholder number (OASI number/social security number) in all enquiries, so that we can process them as quickly as possible.

Personal data

Your personal details (date of birth, gender, level of employment, marital status) and the date on which you joined the Foundation are required in order to calculate your benefits and contributions.

Salary data

Your salary forms the basis for the calculation of all benefits and contributions.

Reported annual salary

The reported annual salary corresponds to your pensionable salary (gross salary) and is consistent with the information shown in your salary statement. If you start a position during the year, it is extrapolated to show the amount for a full year (monthly salary × 12 or × 13). Please report any errors to your employer immediately.

Insured salary 1

The insured salary 1 is generally the basis for calculating your retirement credits.

Insured salary 2

The insured salary 2 is generally the basis for calculating your risk benefits (disability and death).

Under the regulations, a coordination amount can be deducted from insured salaries 1 and 2. This is designed to coordinate the cover with the first pillar (Swiss old age and survivors’ insurance (OASI)). The exact calculation method is described in your pension plan.

Benefits in old age

This section lists the projected benefits (annual retirement pension or one-off capital payment) that you will receive when you reach the normal retirement age.

Please note: This is a projected figure that is subject to a certain degree of uncertainty in the longer term. Particularly in cases involving younger policyholders, the projected figure may differ considerably from the figure that actually applies at the time of retirement. The exact old-age benefits, also taking any buy-ins into account, cannot be calculated with definitive effect until you actually reach retirement age.

Annual retirement pension

The annual retirement pension refers to your income from the second pillar after normal retirement. This benefit is paid out on a lifelong basis. The amount corresponds to your retirement capital, multiplied by the conversion rate. The conversion rate is the percentage used to calculate your annual retirement pension. It is set by the Board of Trustees and you can find the current conversion rate in the Appendix to the Pension Fund Regulations.

Example: Based on retirement capital of CHF 100,000 and a conversion rate of 6.0%, you will receive an annual retirement pension of CHF 6,000.

Retirement capital

The one-off retirement capital is calculated based on the current retirement savings available and the projected retirement credits including interest, for the period leading up to your normal retirement (projection). The interest rate is defined by the Board of Trustees.

The retirement capital forms the basis for calculating your annual retirement pension.

You can opt to receive a one-off lump-sum amount as opposed to an annual retirement pension by submitting an application at any time up until your first pension is paid out. Once your first pension has been paid out, this option is no longer available.

Annual retired person’s child pension

If your children are under 18 years old or are completing initial post-secondary education or training (up to the age of 25) when you retire, you are entitled to a retired person’s child pension. You will receive a payment corresponding to 20% of your retirement pension for each child.

Old-age benefits in the event of early retirement

The calculation is based on the same formula as the annual retirement pension or the one-off retirement capital. A reduced conversion date, however, is applied to reflect the shorter term. You can find this conversion rate in the Appendix to your Pension Fund Regulations.

Annual disability pension due to illness

The annual disability pension is the maximum pension paid out in the event of occupational disability due to illness. A partial disability pension is only paid out to individuals with a level of disability of 40% or more based on the invalidity insurance system.

If your employer has taken out a daily sickness benefits insurance policy for its employees, a waiting period of 24 months applies before a disability pension is paid out. The amount of your disability pension is defined in the pension plan. You can find detailed information on your entitlements in sections 24 et seqq. of the Pension Fund Regulations.

Annual disabled person’s child pension due to illness

The disabled person’s child pension is linked to the disability pension and is subject to the same terms and conditions. It is paid out for each child aged under 18 or completing initial post-secondary education or training (up to the age of 25). The amount is defined in your pension plan and set out here in your insurance certificate.

Exemption from premiums in the event of illness or an accident

Once the defined waiting period has passed, you are exempted from the obligation to pay premiums. Exemption from premiums is linked directly to occupational disability and comes into force both in the event of illness and if you are involved in an accident.

Benefits in the event of death

If you die due to illness, your spouse or partner is entitled to a lifelong partner’s pension. Your children are entitled to an orphan’s pension.

Registered partnerships or the nomination of a partner as a beneficiary must be reported in advance. Use the “De facto partnership declaration/support contract” (Konkubinatserklärung/Unterstützungsvertrag) form for this purpose.

Annual partner’s pension before retirement

The amount of the annual partner’s pension is defined in your pension plan and set out here in your insurance certificate. More detailed information on the entitlement is set out in sections 27.2 and 28.3 of the Pension Fund Regulations.

You can also opt to receive a one-off lump-sum amount (lump-sum death benefit) by submitting an application at any time up until your first partner’s pension is paid out. Once the first partner’s pension has been paid out, this option is no longer available.

Annual partner’s pension after retirement

If you die after you reach normal retirement age, your spouse or partner is entitled to an annual partner’s pension. This corresponds to 60% of your retirement pension and is paid out in the event of death due to illness or an accident.

Orphan’s pension before retirement

If you die before you reach normal retirement age, each of your children aged under 18 or completing initial post-secondary education or training (up to the age of 25) is entitled to an annual orphan’s pension, which is paid out in the event of death due to illness.

Orphan’s pension after retirement

If you die after you reach normal retirement age, your children aged under 18 or completing initial post-secondary education or training (up to the age of 25) are entitled to an annual orphan’s pension. This corresponds to 20% of your retirement pension and is paid out in the event of death due to illness or an accident.

Lump-sum death benefit (in the event that there is no entitlement to a partner’s pension)

The lump-sum death benefit is a one-off lump-sum payment made to your partner or your legal heirs and generally corresponds to the amount of your retirement savings that is available at the time of your death.

You can find more detailed information in your pension plan and in the Pension Fund Regulations (section 30).

An additional lump-sum death benefit can also be defined in your pension plan. Ask your employer for more information.

Financing

You and your employer finance your employee benefits insurance together.

Retirement credit contribution

The retirement credits are credited to your individual account and serve to finance the benefits you will receive in old age. The amount of the retirement credits is defined in your pension plan and set out here in your insurance certificate.

Risk contribution

The risk contribution is designed to finance the benefits paid out in the event of disability or death. The risk contribution amount is defined on a case-by-case basis and is based on your age and the amount of risk benefits defined in your pension plan.

Contribution to administrative costs

The administrative costs consist of a fixed and a variable component and amount to a maximum total of CHF 600.

Personal contribution

The personal contribution corresponds to the monthly deduction shown on your salary slip. The amount is defined in your pension plan and set out here in your insurance certificate.

Retirement savings

Your insurance certificate shows the minimum amount required pursuant to the Swiss Occupational Pensions Act (OPA) and your total retirement credits.

Retirement savings as of 1 January

Your retirement savings correspond to the capital you have saved to date, as of 1 January of the current year. This can be referred to as your pension fund account balance.

The amount includes the retirement credits paid into your account to date, vested benefits transferred to Tellco pkPRO, interest, and purchased contribution years and other allocations (e.g. due to divorce).

Retirement credits

The retirement credits correspond to the amount added to your retirement savings as of the end of the year.

Interest

The interest is calculated on an annual basis based on your retirement savings as of 1 January and is credited to you at the end of the year.

Promotion of home ownership

You can withdraw your retirement savings early to finance your own home (owner-occupied residential property). For detailed information, please refer to the regulations governing “Promotion of home ownership” (Wohneigentumsförderung).

Pledged pension benefits

Here, you can see whether or not you have already pledged your pension benefits, and in what amount, to finance your own home (owner-occupied residential property). These benefits act as an additional form of collateral for your lender (e.g. the bank you have taken out your mortgage with).

Maximum possible early withdrawal

In order to finance your own home, you can arrange for the maximum amount shown here to be paid out. It will then be deducted from your retirement savings. You must withdraw at least CHF 20,000. You can make an early withdrawal every five years.

You can withdraw an amount corresponding to your entire retirement savings up until you turn 50. Once you turn 50, you can withdraw half of your current retirement savings or the amount of the retirement savings you had at the age of 50, whichever is higher.

Tax-deductible pension deposit

Missing contribution years or salary increases can produce contribution gaps in your pension fund. You can use voluntary buy-ins to close these gaps. This allows you to benefit from tax savings and higher benefits after you retire.

If you are interested in voluntary buy-ins, please get in touch with us. We will be happy to provide you with information on what your options are in your specific case.

Maximum possible deposit

The maximum possible buy-in amount that can be deducted from your taxable income in the current year. In order to obtain an exact calculation, send us your application to purchase additional pension benefits.