BVG News 2022

In the current challenging environment with all its unpleasant political and economic news, we have a positive message: we are paying a very attractive total rate of interest of 1.25% in 2022 in our tried-and-tested full insurance solution. Alongside financial sustainability, you can read about the other things we do for our customers and the environment in BVG News. You will also find out what the AHV 21 reform means for occupational pensions and how you as an employer can ensure that your employees are well protected even in difficult times.

We are facing some major challenges at the moment: the ongoing pandemic, the war in Ukraine, inflation, supply bottlenecks and fears about energy shortages with winter just around the corner. The effects are putting pressure on companies of all sizes and the occupational pension system has not been spared either. After a more or less record-breakingly good investment year in 2021, many pension funds have had to accept clear negative returns this year. However attractive high returns may be in good years – the strength of full insurance with all its guarantees is shown in times of crisis. While many autonomous and semi-autonomous pension funds are currently underfunded, we are able to offer an attractive total interest rate on retirement assets of 1.25% thanks to our security-oriented investment strategy.

And that is not all: with an AA rating from Standard & Poor’s, we are one of the best-rated insurance companies in the Swiss market. This means that we have the necessary financial strength and solid provisions to be your reliable partner at all times – in the long term and sustainably. 

In times of crisis, business activity with a sustainable focus is less susceptible to disruption or failures. This is something that you as an entrepreneur are doubtless familiar with from your own practice. Sustainability – with its three dimensions of economy, environment and society – is firmly embedded in Allianz Suisse’s DNA. We are much more than just an insurer and do everything we can today for the world of the future. For that reason, and for the first time, we are making this year’s BVG News available to you in a reader-friendly online format rather than in print form. This also makes it easy for you to forward the newsletter to your employees.

We remain a bastion of stability and are confident about the future. We would be happy to assist and advise you if you have any questions – whenever you need us. Thank you for placing your trust in us and for the excellent working relationship!

Yves Barbezat

Yours sincerely

Yves Barbezat
Head of Group Life

The result speaks for itself: in SonntagsZeitung’s Switzerland-wide pension fund comparison for 2022, Allianz Suisse has been awarded first place for the “Highest interest rate over 10 years” in the full insurance category for the eleventh time in succession. We were also able to maintain our top position in the category “Best investment return over three years”.
In full insurance, our insured persons are benefiting from an excellent total interest rate of 1.25% on their entire retirement assets in 2022.

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Guaranteed interest

Interest surplus Total interest
Compulsory 1.00 % 0.25 % 1.25 %
Elective portion 0.125 % 1.125 % 1.25 %
1% compulsory minimum interest rate
The Federal Council has decided to leave the BVG minimum interest rate for compulsory retirement assets at 1.00% for 2023.
0.125% elective guaranteed interest rate
The interest rate guaranteed by Allianz Suisse for elective retirement assets in 2023 remains unchanged at 0.125%.
You can find the conversion rates for 2023 in the “Key BVG figures, interest and conversion rates” document in our download portal.
The Swiss electorate voted in favour of the AHV 21 reform on 25 September 2022 and it will enter into force on 1 January 2024. Here is a brief explanation of the reform’s effects on occupational pensions: 

What has changed in the AHV?

  • Step-by-step increase in retirement age for women from 64 to 65
  • Compensation measures for women in the transitional generation
  • Flexible options for drawing AHV pension between the ages of 63 and 70
  • Incentives for continuing to work after the age of 65
  • Additional financing by increasing VAT from 7.7% to 8.1%

Key effects on the BVG

  • Retirement age of 65 for women also applies to occupational pensions
  • More legal flexibility for the transition to retirement and for the deferral and partial drawing of retirement benefits
To give them an opportunity to secure higher retirement assets, you can offer your employees up to three pension plans with different retirement credits. Your staff will then be able to actively influence the amount of their future retirement assets. You can find more details in the information sheet “Wahlmöglichkeiten zwischen Vorsorgeplänen (“Option to choose between pension plans”).
Self-employed people (individuals) can insure themselves voluntarily in their employees’ pension scheme. If they no longer 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. 
The financial risk arising from the early death of a key person within a business can be insured at Allianz Suisse. The lump-sum death benefit that is insured can be used to find an adequate replacement and thus constitutes an important contribution towards securing the company’s future.
The Federal Council has decided to adjust AHV/IV pensions in line with price and salary developments with effect from 1 January 2023. This change will have the following effects on the BVG limits from 1 January 2023: 

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From 01.01.2023
BVG eligibility treshold 21 510 22 050
BVG maximum 86 040 88 200
BVG coordination deduction 25 095 25 725
Maximum insured annual BVG salary 60 945  62 475
Minimum insured annual BVG salary 3585 3675

The increase in the eligibility threshold may mean that insured persons with low annual salaries fall below this limit and are no longer subject to compulsory insurance.

Insurance is compulsory for annual salaries that are equal to or higher than the eligibility threshold of CHF 22 050.–. Please check whether your employees are affected by this. 

Did you know that as an employer, you can influence your employees’ retirement planning? You define the amount of the savings contributions and the death and disability benefits together with your pension fund commission. There are numerous ways of enhancing occupational pension cover in the elective component, thus giving your employees better protection than the minimum level stipulated by law. Our experts will be happy to assist you in designing the best pension plan for your company. You can use the following levers, for example:

  • Increasing the insured salary
  • Increasing the retirement credits
  • Making it possible to start the savings process earlier
  • Offering optional plans
  • Increasing risk benefits 

Sustainability is an integral component of our investment strategy

“The world is changing rapidly and presenting us with some major challenges. In many areas of life we need to find new solutions that will preserve the bases of our lives and those of future generations. As a company, we want to make a decisive contribution to this with our strong focus on sustainability.” 

Monika Behr, Head of Life at Allianz Suisse

Did you know that…

  • Allianz is a founding member of the Swiss Climate Foundation?
  • Allianz employees can take off one working day per year to do charity work?
  • was the first insurance company to be awarded the Swiss LGBTI Label?
  • we are EDGE*-certified?
  • we are a premium partner of Spitex Switzerland, a project partner of the Swiss Red Cross and a patron of Pro Juventute?
  • Allianz was named the most sustainable insurer in the 2021 Dow Jones Sustainability Index**?
  • Allianz is a co-founder and a member of the governing body of the United Nations-convened Net-Zero Asset Owner Alliance?

*EDGE is the world’s leading rating method and the certification standard for gender equality in the workplace.

**a globally recognised sustainability index

How Allianz does its bit to increase sustainability

Sustainability: an integral component of our investment processes.

Environmental performance: our goal is to achieve net zero emissions in our business operations by 2030.

Equal pensions: we do educational work in the area of pensions – everyone in Switzerland should receive a fair pension.

Aid for Ukraine: we support customers who have taken in refugees.

Diversity: we promote equality irrespective of gender, sexual orientation and gender identity. 

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