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Market and social insurance
A lot is happening in terms of retirement provision. On 01.01.2024, the "OASI 21" reform will increase the retirement age for women. The reform of occupational benefits cleared the parliamentary hurdle in the spring of 2023. However, a referendum was launched against it. The people now have the last word.
Market and social insurance
The reform to stabilize OASI ("OASI 21")
The "OASI 21" reform, which focuses on raising the reference age for women, will enter into force on 1 January 2024. At the same time, VAT rates will be raised.
The 2nd pillar is also affected by the changes to the law. You can find out what effects these will have on occupational benefits and how Helvetia is implementing the legislative reform in the "Products and benefits" section and at helvetia.ch/oasi21.
Reform of occupational benefits ("LOB 21")
In March 2023, Parliament passed the bill definitively. However, a referendum was launched against the reform. The referendum is therefore expected to take place on 9 June 2024. The date of any entry into force will be determined thereafter.
Popular initiatives on OASI
On 3 March 2024, Swiss voters will be able to decide on two further social security proposals at the ballot box. The popular initiative "For a secure and sustainable pension system" (Pensions Initiative) calls for an increase in the reference age for men and women to 66 years and for the reference age to be linked to life expectancy. The popular initiative "For a better life in retirement" (Initiative for a 13th OASI pension payment) requires that all pensioners be entitled to a 13th OASI pension payment. The Federal Council and Parliament recommend rejecting both initiatives.
Social insurance key figures 2024 and LOB minimum interest rate
The most important key figures and limits for the first, second and third pillars of our social security system can be found in the following chart.
As of 1 January 2024, the LOB minimum interest rate will be increased from 1% to 1.25%.
Adjustment of current compulsory LOB survivors’ and disability pensions
By law, survivors’ and disability pensions paid under the compulsory occupational benefit scheme must be periodically adjusted for inflation. The adjustment is based on the Swiss Consumer Price Index. The first adjustment of a pension is generally carried out after three years at the beginning of the following calendar year. Subsequent adjustments are made at the same time as adjustments to OASI/IV pensions.
Pensions first paid in 2020 will be adjusted for the first time on 1 January 2024. The adjustment rate is 6.0%.
Pensions starting before 2020 will not be adjusted.
Author: Caroline Diem