BVG News 2023

At the end of last year, the Swiss population approved a major reform of the Retirement and Survivors’ Insurance (AHV) system. Read this edition of our BVG News publication to find out what impact the AHV reform will have on pension funds and the financial future of your employees.

We also examine the topics of part-time work and sabbaticals from an employer’s perspective. In our webinar and guide, we provide solutions and advice on how to meet the needs of your employees and thus remain attractive as an employer. We will be happy to help you with this.

We have the necessary financial strength and solid provisions to be your reliable partner at all times – in the long term and sustainably. This was also confirmed by the SonntagsZeitungnewspaper, which awarded us top marks for the 12th time in a row. We remain confident about the future and would be happy to assist and advise you whenever you need us.

Yves Barbezat

Yours sincerely

Yves Barbezat
Head of Group Life

We would like to provide you with comprehensive advice and find the best long-term solutions for your needs. For this reason, Allianz Suisse has also offered a semi-autonomous pension fund solution in addition to the tried-and-tested full insurance since 1 April 2023. We continue to uphold our existing values in full insurance, but want to meet the growing need for freedom of choice by offering this additional option. This enables us to give you even better advice and support.

Want to know more about the differences between full insurance and semi-autonomous solutions? You can find out more on our product page (only available in German).

Or would you like to receive personalised advice on your options? Your advisor will be happy to help. We look forward to hearing from you.

The result speaks for itself: in SonntagsZeitung’s Switzerland-wide pension fund comparison, Allianz Suisse has been awarded first place for the “Highest interest rate over 10 years” in the full insurance category for the 12th year in succession.
In full insurance, our insured persons are benefiting from an excellent total interest rate of 1.25% on their entire retirement assets in 2023.

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  Guaranteed interest Interest surplus Total rate of interest
Compulsory 1.00 %
0.25 % 1.25 %
Elective 0.125 %
1.125 %
1.25 %
1.25% compulsory minimum interest rate
The Federal Council has decided to raise the minimum BVG interest rate to 1.25% for 2024.
0.5% elective guaranteed interest rate
The interest rate guaranteed by Allianz Suisse for elective retirement assets will be raised to 0.5% in 2024.
You can find the conversion rates for 2024 in the “Key BVG figures, interest and conversion rates” document in our download portal.
The following interest rates were adopted by the Board of Trustees in November:

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Interest during the year Total rate of interest Interest during the year 2024

1.00 %

2.25 %

1.25 %

As the months go by, we are also getting ever closer to implementing the AHV-Reform 21 (only available in German).

The AHV 21 reform will have the following effects on pension funds:

  • The retirement age for women will be increased to 65 on a step-by-step basis. 
  • The legislator now permits early withdrawal of retirement benefits from the age of 63 and deferral of the withdrawal of retirement benefits until the age of 7
  • The AHV reform enshrines flexible retirement in law. At the Allianz Suisse collective foundations, insured persons can already take full or partial early retirement from the age of 58. Deferred retirement until the age of 70 is also already possible.
  • The Allianz Suisse collective foundations are making their offering even more flexible and will now provide for three different deferral options in their Pension Rules from 1 January 2024
    • Deferral of retirement benefits without savings and risk contributions (statutory minimum requirement)
    • Deferral of retirement benefits with savings contributions but without risk contributions
    • Deferral of retirement benefits with savings and risk contributions
  • Deferral of retirement benefits with savings contributions but without risk contributions and deferral of retirement benefits with savings and risk contributions are only possible if the employer agrees and a written declaration of consent has been submitted. The declaration of consent is available until the end of the year at: www.allianz.ch/bvg-employers

Want to find out more?

Our “Flexible retirement” fact sheet at allianz.ch/bvg-insureds provides key information on flexible retirement.

Part-time work is becoming increasingly popular. However, women in particular are often affected by gaps in their retirement provision. In our webinar (only available in German) we examine this topic and explain potential solutions for employers and employees,

Unpaid leave is also gaining in popularity. However, it is important not to forget about the risks and the associated responsibility. Find out what you need to know about this as an employer in our guide (only available in German).

Self-employed people (individuals) can insure themselves voluntarily in their employees’ pension scheme. If they do not have any staff, they do not necessarily have to terminate the existing pension plan. At Allianz Suisse, retirement cover for a self-employed person without staff can easily be insured in an association solution. Click here for more information.

The General Terms and Conditions (GTC) will be amended with effect from 1 January 2024 and will be available from January onwards at allianz.ch/bvg-documents.

In addition,  from 1 January 2024, our insured persons will be able to notify us in writing that they wish to place their children who are eligible for a pension ahead of their spouse or life partner in the sequence of beneficiaries. The same applies to lump-sum death benefits from the reimbursement of unused retirement assets.

The new Cost Regulations valid from 1 January 2024 are also available for download at  allianz.ch/bvg-documents.

For when you want to know all the details: 
general documents, contract information and documents for employers and insured persons. Everything in one place.