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Pensions should be reduced

at the end of January, will travel Josef Bachmann to Bern and the Federal Chancellery to submit the signature sheet to its popular initiative. He gave her a name that is unlikely to encounter opposition: "Preparedness fair". The text of the Initiative involves an explosive device. It reads: "Also the current old-age pensions the occupational Pension can be reduced in order to limit the redistribution."

From the far left to the far right it is now agreed: The pensions the seniors will not be affected. In accordance with article 65d of the Federal act on the occupational Pension scheme, this is only possible if a pension Fund has fallen into deficit. Because this sentence, but send as many reservations in advance and downstream of this, ultimately, pensions are practically samples.

"matter of fact, I have no Chance," says Josef Bachmann himself. The pensions were in Switzerland a taboo. Bachmann sits in front of his opened Laptop in a Restaurant in Zurich's main station and sets out to make his claim on the basis of cake graphics, columns, tables and time charts to understand. He is for sure: today Would vote on his Initiative, then 99 out of 100 voters said no.

retired to

to say in An ideal location, he says. While many people start initiatives at a blistering pace, but steadily in popularity lose, it should be its Vice-versa. "No, say only those who do not know the connections," says Bachmann. This is his Chance. For months he discussed at every opportunity about the subject, gives lectures, speaks with well-Known or in the train with fellow passengers. He observed: as soon As someone understands what is at stake, it can hardly be against it – even pensioners. So he wants to – if it creates its Initiative to the ballot box – so many people to convince, that at the end of 51 percent of the vote say the Yes.

As Bachmann explains his claim to the pensioners? He not only sent that to them, no one wants to cut the pension, he also. But it was necessary, so that no violent measures will be necessary. Then he explains that you can pay to the pension Fund in today's low interest rate environment only, therefore the full pension, because the pension capital of working lower rates than their (see Text below).

Bachmann leads slowly through the rows of columns and pie graphs, throws over the top of her Glasses again to have a control view be To. He wants you to understand. Although the Initiative is not yet launched, he's already Routine. He knows that the material is brittle, the vocabulary is intimidating. Therefore, he scatters as from a spell in the presentation: "And it came to sin," he says about theatrically, as he explained a graph that looks like a cutout from the map of the SBB. Says: Here, the pension Fund has promised its Insured too high of a pension.

67 prematurely

Josef Bachmann retired know of what he speaks: He was the managing Director of the pension Fund of the consulting company PWC and was retired, as he says, 67 "prematurely". In his opinion, the "natural retirement age today would be" about 70, then Switzerland would be Swiss after their Retirement, equal to life in 1985, as the occupational Pension became mandatory.

With its people's initiative, Bachmann is continuing what he did as Manager of the pension Fund initiated: employees of PWC, came in 2005 or later, in retirement, receive only about 90 percent of their pension to fix the variable portion is increased depending on the rate of return or reduced. In 2014, the Board of Trustees of the Fund in order to extend this model also to senior citizens who have went prior to 2005, in the Board. But the Board of Trustees the supervision of the Canton of Zurich is not accepted. The Fund moved the case under the interested observation of the whole industry to the Federal court. Without Success. The court saw no legal scope for – and referred to the legislature.

So, Bachmann has already spoken with 20 National and state councillors, and all were to agree with him that something needed to be done. Only a few are willing to Expo. Previously, Bachmann was able to win three national councils, including the green liberal party Thomas Weibel, who has already filed a parliamentary Initiative on this topic. Further, it is superior.

error of the funds, not the seniors

How much the pensions were increased or decreased are to be want Bachmann to let the Parliament decide. In order to give him room for manoeuvre, he has formulated his Initiative as a General suggestion. Bachmann is also demanding that the retirement age will be increased in step with life expectancy. "Today, most of them could work longer," he says. While his grandfather went with 63 on the floor, he ran in this age, his first Marathon.

Just: What happens to the elderly, in which the pension is not enough today to life? Or the less fit and early with a small pension in retirement? According to Bach's you are to receive supplementary benefits. "It is not the young should care for the Weaker social with your retirement capital, but the General public." So only those would be supported, which would be dependent on it.

There are, however, also the other. Pensioners, who went several times a year, in the holidays, and cruises have made – thanks in part to the money of the young. "I, too, am one of those," he adds. This is not the fault of the seniors, but of the pension Fund.

redistribution from the young to the Old

Why does Josef Bachmann? Three years of his life to a people's initiative to sacrifice, instead of going on cruises? "Because of our children," he says. He wants to prevent you have because of the growing redistribution of a smaller pension, and that between the generations of hatred.

Bachmann is convinced that He will bring the required 100'000 signatures. Seniors, so he has to learn in the talks, it's probably at the thought that they are at the expense of the Younger life. "If 40 percent of the retirees and pensioners convince, then we can win the vote."

In the second pillar, the occupational Pension Fund, shall set aside, each working for themselves, money for old age. It stipulates, in any case, the Swiss 3-pillar System of pension provision. However, were reallocated in recent years, 7 billion Swiss francs per year from the employed to pensioners. This corresponds to less than 1 percent of the total pension capital. To this end, the Occupational Pension Supervisory Commission of the Federal government in this year's report.

The young pay for the miscalculations of the funds

This is because the majority of the funds responding too late to lower interest rates and the Insured, who went into retirement, a pension promised. If a Fund has calculated a pension on the basis of a conversion rate of 6.8 percent, you can use the pension capital of the pensioner with 4 to 4.5 percent interest, so it is enough to ansleben the end.

In today's low interest rate environment for the pension funds, however, difficult to generate such a high return on investment. For example, if a Fund generates a return of 1 percent, the pension must pay interest on the capital of a pensioner, but it's actually a significantly higher percentage, then she has a Problem.

funds in 2018, probably in the Minus

In such a case, nothing else is left of a cash register often, as the money from the workers to redistribute to retirees. For this, you do not draw money from the accounts of the employed and pays it to the retired – even if the effect is in about the same. Rather they use a large part of your return to pay interest on the capital of the pensioners, and if something remains, that of the employed. The funds that perform better, as it is required by law.

The Occupational Pension Supervisory Commission currently assumes that the pension funds finish the year 2018, with a loss of 1 to 2 percent. As a result, your coverage would decline by 3 to 4 percent. (jho)

(editing Tamedia)

Created: 18.12.2018, 21:35 PM

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