The law ensures that employees aged 58 and over who lose their job are able to continue building up their pension until ordinary retirement. Where insurance of occupational benefits is continued voluntarily, pension cover is maintained in the event of death or disability as a minimum in all cases.
Voluntary continuation of insurance is only possible for basic pension schemes, i.e. compulsory occupational benefits. Purely supplementary solutions such as a separate cadre benefits scheme cannot be continued. The person dismissed can apply for continued insurance with their previous employee benefit institution and then continue to pay their own contributions and those of their former employer. They thus leave the occupational benefit insurance system but continue to be subject to OASI.
At Helvetia, dismissed persons can apply for voluntary continuation of insurance from the age of 55. They can also decide whether to continue to insure the entire pension provision (maintenance of pension cover in the event of death or disability, and further build-up of retirement provision) or only the risks of death and disability. The insured person also has the option of adjusting the salary – which is used to calculate contributions – within a certain range. This is helpful if the individual alone cannot cover contributions previously paid by the employer and employee together.
Notification of interest in continued insurance of occupational benefits after termination by the company must be received by Helvetia at least one month after departure. The insurance will then apply from the first of the month following the date of termination of employment. This prevents any gaps.