In the occupational Pension plans have been active in the past ten years, funds in the order of over 90 billion Swiss francs of the purchase to be redistributed to the Retired. The data, collected by the pension consultant PPC Metrics for the Sunday newspaper.
This sum is far higher than previously assumed. So far, only those Numbers were known, which raises the Occupational Pension Supervisory Commission for five years. After that, between 2014 and 2018, have been redistributed to around 33.5 billion francs, as it announced on Tuesday. This corresponds to, on average, 6.7 billion per year.
The Figures for earlier years show that the redistribution from 2009 to 2013 was even higher. She moved in the order of 12 billion Swiss francs per year. This also has to do with the pension funds after the financial crisis, its income had to fill the reserve pots, before they could credit the capital in the workforce again earned.
Until retirement, the bill will be presented
The redistribution was, however, already prior to 2009. According to a report by the oversight Commission, on actions already from 1997 onwards, the gaps in the financing of the pensions. The yields of the pension funds were even then not in every year, high enough to Finance the pensions. After the good stock market years of the nineties, the funds had accumulated their reserves, however, and were able to close the gaps. At the latest after 2007, the yields and the promised pensions gaped wide apart, and the reserves were exhausted. Thus, the acquisition had to inanzieren make with their accumulated capital with the pension claims.
The acquisition not to make yourself know how much of your money was redistributed. It is only when you retire, you get presented with the bill: to calculate your pension from the occupational Pension, is multiplied by your retirement capital using the conversion rate and both of these factors are currently low. The capital employed has only grown slowly, because it was remunerated on the basis of redistribution is often lower than that of the pensioners. In addition, many pension funds have lowered the conversion rate according to pension consultant Complementa to an average of 5.6 percent in the current year. And you will sink up to 2024, further, to 5.3 percent.
For the employed, it makes a big difference, whether you go with a conversion rate of 6.8 or 5.6 percent in retirement, and how big your capital is. Who could save 500'000 Swiss francs with a conversion rate of 6.8 percent in retirement was adopted, receives a monthly pension of 2833 Swiss francs from the second pillar. The one who comes due to the redistribution of only 400'000 Swiss francs and whose pension was calculated using a conversion rate of 5.6 percent, receives only in 1866, franc – scarce 1000 francs less.
Insured persons in the supplementary benefits
driven This 1000 francs difference can decide whether someone on supplementary benefits will be dependent or not The pension is not huge. It is for individuals between 1185 and 2370 Swiss francs.
Suppose that someone receives from the first column the average of these two Numbers, 1777 francs, and from the second pillar, the 1866 francs, the pension 3644 Swiss francs. To come up with such an income to make ends meet, is not only in cities a challenge.
"The pension funds today are able to generate the returns it needs to pay the promised pension, with a high investment risk," says Marco Jost, a pension Fund expert of PPC Metrics. And many do, as is clear from the collection of the supervision Commission. 53 percent to follow an investment strategy with a rather high or high risk. If this strategy doesn't work out, pay alone working for it. You will receive less interest or even help to refurbish your office.
investors must be happy, if you do not have to pay negative interest rates.
However, those funds that insure only the legally required minimum pension are forced, a conversion rate of 6.8 percent to apply. The Problem is, that the legislature went out in the eighties, the funds can always earn a safe yield of at least 4 percent. He has set the conversion rate accordingly. Today, however, without risk, no return and more safely achieve. Investors must already be glad, if you do not have to pay negative interest rates.
daure the longer The phase of low interest rates now, however, the bigger the mountain of debt or the obligations, which the pension funds are entered into with the guaranteed pensions, will Marco Jost says. Therefore, you should discuss honestly about how it can be remove again.
However, There were also years in which, in the other direction was redistributed to the pensioners to the employed. This was in the nineties, when the interest rate level was significantly higher than the conversion rate. The pension funds did not know at the time, almost, where with the money and granted to the employed, among other things, "contribution holiday".
This Text is from the current issue. Now all of the articles in the E-Paper of the Sunday newspaper, read: App for iOS App for Android – Web-App (Sunday newspaper)
Created: 19.05.2019, 00:23 PM