Fortunately, in Switzerland, employer matchings are required by law, as are employee contributions.
There are three components to the Swiss retirement scheme, and they're known as the Three Pillars.
Pillar 1: State pension. This is basically Swiss social security. 5.05% is taken out of every paycheck and employers match to make it 10.1%. Contributions are required by law. This is paid out when you retire or (in my case) when you leave the country for good.
Pillar 2: Employer pension. This is more like a company pension fund. Contributions range from 7 to 18% and increase with age. I get this when I retire in Switzerland or when I leave the country.
Pillar 3: Private pension. Contributions are voluntary. Sort of like owning your own mutual funds and life insurance. Tax deductible, and receivable when I leave the country.
So the three pillars cover state, employer, and individual. Pretty comprehensive. I'd love to hear what any of you finance geniuses think about this.
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