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The basic pension insurance is the old-age and survivor's insurance (OASI). It is known as Alters- und Hinterlassenenversicherung (AHV) in German, Assurance vieillesse et survivants (AVS) in French, and Assicurazione vecchiaia, superstiti e invalidità (AVS) in Italian.
This is a pay-as-you-go pension system, the law on occupational pensions (2nd pillar) being a funded pension system. The OASI also allows for a (partial) redistribution of wealth. [ 2 ] According to the Federal Social Insurance Office, the OASI is “the most important branch of the Swiss social insurance system ”.
As of 2021, the fund served a total of around 66,800 insured persons and 42,000 pensioners from the Federal Administration, the ETH Domain, various decentralized federal companies and around 60 other companies under private or public law. It manages 44 billion CHF worth of assets, [1] [2] making it the largest pension fund in Switzerland. [3]
Switzerland's minimum old age and survivors (AHV) pension is 1,225 Swiss francs ($1,393) a month, and the maximum 2,450 francs. For couples it is capped at 3,675 francs.
Social security insurance was introduced in Switzerland in 1948. [2]Social security services in Switzerland includes: Unemployment insurance (German: Arbeitslosenversicherung, ALV; French: Assurance-chômage, AC; Italian: Assicurazione contro la disoccupazione, AD), normally directly deducted from salary if resident is employed
The "Pensions Initiative (retirement age)" aimed to increase the retirement age this year, and raise it automatically every year. [ 3 ] The Swiss government recommended voters to reject both referendums, however polls showed voters were likely to accept the first initiative and reject the second, [ 4 ] which was also the final result.
The Icelandic pension system requires a minimum of 3 years of residency in Iceland for entitlement to an old-age benefit. You can retire early at age 65 with a reduced benefit amount. You may also ...
See also: Pensions in Spain. [1] [3] Sweden: 66 66 2020, options age 62–68. By 2026 it will be 67, with options age 64-69. Switzerland: 65 64 2022 [24] [25] [26] Ukraine: 60 60 2022 United Kingdom: 66 66 2021 The retirement age is due to be increased to 67 by 2028 and 68 by 2046. See also: Pensions in the United Kingdom. [27]