Tuesday, December 6, 2022

Over 1000 billion – but older people have little of it

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First swallow empty and take a deep breath! Most people had to do that in recent years when the new insurance certificate for occupational pensions (BVG) ended up in the mailbox. Because the trend was mainly pointing in one direction – down.

While the conversion rate for the so-called enveloping funds, which mix mandatory and extra-mandatory, averaged 6.74 percent in 2010, it fell to just 5.52 percent by 2021. This means that for every CHF 100,000 saved in retirement savings, there is a pension of around CHF 5,500 per year. By 2025, the average rate is expected to drop to 5.3 percent. This is shown by the latest Swisscanto pension fund study.

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