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WELCOME
to our
AHV & Statement of Benefits Workshop
Tuesday 27 May 2014
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Agenda
• Pillar 1 – the AHV Swiss state pension:
contributions and benefits
• Pillar 2 – occupational pension provision:
what does the PVS provide?
• Your statement of benefits
• basic data
• financing
• old-age savings
• benefits
• further information
• Customer care
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• All the following relates to persons resident in Switzerland.
• The “Alters- und Hinterlassenenversicherung” (AHV) is the
Swiss state insurance scheme against death and old age.
• Expenditure coverage approach: income in the current year
is used to finance expenditure in the current year.
• Benefits are only available in pension form.
• Benefits cannot be taken in lump-sum form, but contributions
can be refunded.
• Coverage can be continued after leaving Switzerland if
desired.
Pillar 1: AHV, the Swiss state old-age pension
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AHV contributions
• Compulsory from the year after the 17th birthday until
retirement from work.
• Non-working spouse is also insured if their partner is in gainful
employment and pays at least twice the minimum contribution.
• Persons not gainfully employed must pay contributions from the
year after their 20th birthday until state retirement age (64 for
women, 65 for men).
• If work continued after retirement: no AHV contributions on
income of up to CHF 1,400 per month.
• Contributions shared equally by employer and employee.
• Currently 6.25% of AHV salary each (AHV 4.2%, IV 0.7%, EO
0.25%, ALV 1.1% [0.5% for salary parts over CHF 126,000]).
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AHV benefits
• Pension amount depends on length of contributions, income and
education/care credits.
• Married couple‟s contributions split when second partner retires.
• Education credits until youngest child turns 16 (only one a year!).
• Revaluation factor.
• Can be taken up to two years early, but with permanently-
reduced pension amount and no child‟s pensions until state
retirement age.
• Can be deferred up to five years, with corresponding increase in
pension amount.
• Maximum married couple‟s pension of 150% of the maximum
individual pension amount.
• AHV pension replaces any IV state disability pension.
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AHV services
• Account statement can be provided to see if employers have
made all their contributions.
• Future pension calculation within 4-5 years of retirement.
• Register for pension four months before commencement.
• Form available online or from local council offices.
• To be submitted to latest “Ausgleichskasse” to which
contributions paid (your employer will know this).
• Extensive further information on the www.ahv-iv.ch website.
• Ausgleichskasse Zürcher Arbeitgeber, Postfach, 8050 Zurich
044 315 5800 - www.aza.ch
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• The PVS is your company pension scheme.
• The PVS is financed using the «funded plan» approach:
each insuree has their own savings account, to accumulate
capital which will be used to finance their retirement.
• You have a right of consultation as a member insuree.
• The PVS provides retirement benefits and benefits in the
event of disability or death.
• The PVS supplements the state AHV/IV schemes.
• The PVS gives you financial security and peace of mind.
Pillar 2: the PVS, your occupational pension scheme
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Your statement of benefits: the header
• Address
• Date for which the information shown on the statement has been
calculated.
Claudia Sommer Direct line +41 43 210 18 85
E-mail [email protected] www.pv-swissport.ch
Mr John Model First Avenue 100 8000 ZurichARC1#10#34001#10000#10018450#127705#644.64.245.314#756.2515.4279.30 ARC2#Mermoud#Lloyd#14.05.1964
Statement of benefits as of 01.01.2014 issued on 25.04.2014 / flueckigerm
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Your statement of benefits: basic data and financing
• Decisive salary = annual salary = communicated by employer
• Coordination amount pays due (part-)regard to future AHV benefits.
• Insured salary forms the basis for contribution calculations.
Statement of benefits as of 01.01.2014 issued on 25.04.2014 / flueckigerm Employee number 100000 Pension plan Standard Date of Birth 1.04.1964 Decisive salary 86'323.00 Social Security Number 756.2095.4190.39 Insured salary risk insurance 72'283.00 Marital status single Insured salary "Basic" 72'283.00 Date of joining 01.01.2004 Degree of employment 100.00%
Contributions Employee percent per month per annum Employer percent per annum "Basic" savings contributions 6.00% 361.40 4'336.80 9.00% 6'505.20 "Basic" risk premiums 1.25% 75.30 903.60 1.25% 903.60
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Your statement of benefits: basic data and financing
• CHF 21,060 membership threshold for the „Basic‟ pension plan.
• CHF 105,300 membership threshold for „Supplementary‟ pension plan.
• Contributions calculated as percentage of insured salary.
• Insured salary is decisive salary less coordination amount.
• Coordination amount = 20% of decisive salary, up to a maximum of the
minimum annual AHV pension (for 2013: CHF 14,040).
• 1.25% risk insurance premium paid by both employer and employee.
• 6% (Standard) or 9% (Standard Plus) employee’s savings contribution.
• 2.8% [SBS 3.25%] (Standard) or 7.5% (Standard Plus) employee‟s
savings contribution for insurees aged 25-34.
• 9% employer’s savings contribution for the „Basic‟ pension plan
(4.2% [SBS 3.75%] for insurees aged 25-34).
• 15% employer’s savings contribution for „Supplementary‟ pension plan.
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Your statement of benefits: old-age savings capital
• The most important part of the statement for working insurees.
• Shows your old-age savings development during the past year
(starting balance, deposits and withdrawals during the year,
contributions paid, interest awarded, balance at year-end).
• You should check this section every year.
• Also shows maximum possible further voluntary contribution (N.B.
vested account).
Old-age savings Old-age savings capital as of 01.01.2013 404'600.80 Total deposits and withdrawals in 2013 0.00 Old-age savings contributions in 2013 10'842.00 Interest paid in 2013 8'092.05 Old-age savings capital as of 31.12.2013 423'534.85 of which LOB old-age savings as of 31.12.2013 156'041.05 Leaving benefits as of 31.12.2013 423'534.85 Maximum possible further voluntary contribution 0.00
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Your statement of benefits: old-age benefits
• Shows your projected future benefits, based on current data and
regulations and an annual interest rate of 1.5% (current year: 0%).
• These benefits are not guaranteed. Should they become due, they
will be newly calculated and confirmed.
• The closer you are to retirement, the more accurate these figures will
be.
Benefits
Old-age benefits* capital factor per month per annum Savings capital / pension on retirement at 58 569'513.65 5.57% 2'643.50 31'722.00 Savings capital / pension on retirement at 59 588'898.35 5.70% 2'797.25 33'567.00 Savings capital / pension on retirement at 60 608'573.80 5.84% 2'961.75 35'541.00 Savings capital / pension on retirement at 61 628'544.40 5.99% 3'137.50 37'650.00 Savings capital / pension on retirement at 62 648'814.60 6.15% 3'325.15 39'902.00 Savings capital / pension on retirement at 63 669'388.80 6.32% 3'525.40 42'305.00 Child's pension for children of old-age pension recipients (per child) 450.00 5'400.00
*All the projections here are based on the insuree's present salary, the currently-valid PVS Regulations an a (non-guaranteed) yearly interest rate of 1.5%.
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Your statement of benefits: old-age benefits (2) Conversion factors for insures, effective 1 January 2013
Insuree’s age Married or with
long-time partner
Single
58 5.01 5.57
59 5.10 5.70
60 5.21 5.84
61 5.32 5.99
62 5.44 6.15
63 5.56 6.32
64 5.70 6.50
65 5.84 6.69
The PVS old-age pension payable is the applicable conversion factor as a percentage of the
insuree‟s savings capital. If the age difference between the spouses or long-time partners is more
than ten years, the resulting pension will be increased/reduced by 1% for every year or part-year
beyond ten years.
The above table is based on the official BVG 2010 actuarial tables and accompanying mortality
table and an actuarial interest rate of 3.0%.
Special provision for insurees with nightwork credits/shift - based leave
Any insuree with nightwork credits who begins to receive their PVS old - age pension after
1 December 2012 will still have their pension calculated using the present higher conversion
factors provided the corresponding agreement o n retirement with nightwork credits is irrevocably
concluded with the employer in writing by 30 November 2012 and the nightwork credits
concerned begin to be taken by 1 December 2012.
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Your statement of benefits: disability benefits
• These benefits will be based on the relevant ruling by the Swiss Federal
Disability Insurance (IV) and the degree of disability attested.
• Benefits begin after cessation of continued salary payments and/or loss-
of-salary benefits, and at the earliest when state disability payments
begin. Benefits continue for the rest of the beneficiary‟s life.
• Benefits will be based on the old-age savings accumulated by the time of
disability plus projected future „Standard‟ plan contributions plus interest
awarded at the LOB minimum rate plus a conversion factor of 6.1%.
• Coordination with other benefits based on full loss of otherwise-expected
earnings.
• The benefits due have been reinsured by the PVS.
Benefits in the event of disability Disability pension 3'496.10 41'953.00 Child's pension for children of disability pension recipients (per child) 602.35 7'228.00
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Your statement of benefits: survivors’ benefits
• Spouse‟s/partner‟s pension amounts to 70% of full disability pension.
• Benefits begin after cessation of further salary payments, and will be
paid for the rest of the survivor‟s life.
• The benefits due have been reinsured by the PVS.
• If the deceased was already receiving a PVS old-age/disability
pension, the spouse‟s/partner‟s pension will amount to 70% thereof.
Survivors' benefits Spouse's / partner's pension 2'447.25 29'367.00 Orphan's pension (per child) 602.35 7'228.00 *All the projections here are based on the insuree's present salary, the currently-valid PVS Regulations an a (non-guaranteed) yearly interest rate of 1.5%.
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Your statement of benefits: further information
„Further information‟ shows:
• the vested benefits you had accumulated by the age of 50
• any withdrawals made for home financing or in connection with
divorce
• any repayments of withdrawals made for home financing or in
connection with divorce
• any further voluntary deposits
• any pledged amounts.
Further information
Vested benefits at age 50: 30.04.2014 425„000.00
Remarks This statement of benefits supersedes all previous such documents. All the amounts stated are in Swiss francs, and are provided solely for information purposes. Details of future benefits are provided without guarantee. Any and all benefits which become due will be newly calculated in accordance with the then-current Regulations and the latest basic data.v2014_02
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Insurees’ and beneficiaries’ contacts
Your PVS contact persons:
• Claudia Sommer is responsible for all German- and English-
speaking insurees and beneficiaries.
• She can be reached on 043 210 1885
or at [email protected]
• Markus Bleisch is responsible for all French-speaking
insurees and beneficiaries.
• He can be reached on 043 210 1847
or at [email protected]
