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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 ”.
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
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.
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]
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 ...
Mandatory occupational pension provision: Voluntary private collective pension provision; Voluntary private individual pension provision Georgia: Basic pension: N/A: N/A: N/A Germany: Social assistance: Social insurance system: Voluntary occupational pension insurance: Private pension schemes Hong Kong: Basic pension: Provident fund system: N/A ...