A good pension is an important tool for retaining employees. The more simply you communicate information, the more your employees will understand the advantages of the pension model you have chosen.

In the competition for qualified employees an attractive and transparent pension solution plays an important role. Increasingly, potential employees are asking about the type and scope of a company’s pension solution as early as the interview. But you will be able to retain even long-time employees better if, for example, you provide them with a pension above the statutory minimum. A key prerequisite for doing so is providing your employees with comprehensive information in a proactive manner. You can ask your employee benefits institution at any time for easy-to-understand information that you can provide to your employees.

The annual BVG statement

One of the most important sources of information for your employees is the BVG statement. This statement is usually available directly from the Swiss Life customer portal after the end of the calendar year. In accordance with the Federal Law on Occupational Retirement, Survivors’ and Disability Pension Plans, each year the employee benefits institution must provide insured persons with information about the following points: their entitlement to benefits, their contribution rate, their retirement savings, their coordinated salary, and the organisation and financing of their pension (as well as the names of the members of the board of trustees and the administrative board). The statement shows the accumulated retirement savings and the prospective pension benefit upon reaching the normal retirement age. This will enable insured persons to determine whether they will have sufficient funds when they are older, or if they need to take additional measures. Such measures can include, for example, a voluntary pension fund purchase or the conclusion of a private 3a retirement savings policy.

Information event

Your employees will often have individual questions about their personal pension situation. If you have outsourced your occupational provisions to a collective foundation, the foundation will be pleased to assist you with communication. Most pension funds send a brief summary of their annual financial statements each year. By doing so, they inform their affiliated companies about all aspects related to BVG development. In addition, you, as an affiliated company, must also be informed about changes to the pension fund rules. If there are important developments, such as a change of pension funds or a change to the pension model, work with the employee benefits institution to hold an organised information event.

Everything online

Employee benefits institutions in Switzerland now offer insured members information online as well. Whether it’s an annual financial statement, an operating account or the pension fund rules – all of the key documents can quickly be found online. And employees’ individual questions, such as the amount of the prospective pension, can also be answered quickly with the help of new online tools. Pension funds also offer comprehensive on-site staff orientations at the company’s premises.

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