Adjustments due to the OASI reform
The most important change under the OASI reform is that the pension age is now referred to as the reference age, and is being raised to 65 for women. Transitional arrangements for women born between 1961 and 1963 are in place for a three-year period.
As a result of the reform, women will now have the same reference age (65) as men. PUBLICA will therefore bring the conversion rate for women into line with that for men. This means that women born in or before 1963 will retire with the current conversion rate, while those born in 1964 or later will have the same conversion rate as men. The change comes into force in 2025.
There is also the option to maintain your insurance after reaching the reference age if you continue working for your previous employer. You can also defer your retirement benefits once you reach the reference age, meaning that your retirement assets will remain with PUBLICA. Neither you nor your employer will pay any contributions while you continue to work.
The OASI revision also impacts partial retirement with a lump-sum withdrawal, limiting the number of such withdrawals to three steps.
Adjustments due to the disability pension reform
The stepless pension system has already been in place for disability insurance and the mandatory occupational pension since 2022. From January 2024, this model will also apply to the non-mandatory component, for which you are insured. The degree of disability determines the level of the pension entitlement. There is no entitlement to a disability pension for those who are less than 40% disabled, while those who are 70% disabled or more receive a full pension. The rules now stipulate that, for degrees of disability between 50% and 69%, the pension corresponds exactly to the degree of disability, and more finely graded transitions apply between 40% and 50%.
Modernisation of pension benefits
PUBLICA, the parity commissions and the Board of Directors have reviewed the pension benefits to establish whether they meet current needs. PUBLICA is now modernising the pension benefits below via the changes to the regulations from January 2024. Some of the changes are not new for all pension plans, and in some cases they differ from one pension plan to another. For precise details of the changes, please consult the factsheet for your pension plan linked below.
Lump-sum death benefit increased to 100%
The death benefit is a lump-sum payment of the entire retirement assets.
Order of beneficiaries of lump-sum death benefit
Brothers and sisters can now be included as potential beneficiaries of a lump-sum death benefit. The order of precedence for claims to the benefit can be found in the pension plan regulations.
Cash value of pension benefit offset against lump-sum death benefit
Payment of a pension to divorced spouses no longer excludes the payment of a lump-sum death benefit to other beneficiaries. Instead, only the cash value of the pension benefit will be offset against a lump-sum death benefit.
Level of retired person’s child’s pension
Anyone entitled to a retirement pension can also claim a retired person’s child’s pension for their eligible children. The entitlement ends when the children reach the age of 18, but continues until they are 25 if they are still in education.
The level of the retired person’s child’s pension is now dictated by the mandatory occupational pension (minimum OPA benefit) and is 20% of the OPA retirement pension. Until now, the retired person’s child’s pension has been 1/6 of the regulatory retirement pension. Current retired person’s child’s pensions are not affected by the reduction.
Insurance for primary and secondary employment
The entire insurable salary paid by an employer affiliated to PUBLICA is insured. No distinction is made between primary and secondary employment.
Reporting voluntary savings contributions
From January 2024, you can change your voluntary savings contributions with effect from the first day of the following month. Please contact your HR department.
We have compiled a factsheet for each pension plan setting out the main changes to the plan regulations:
- AO pension plan factsheet
- Confederation pension plan factsheet
- ENSI pension plan factsheet
- ETH pension plan factsheet
- FINMA pension plan factsheet
- IPI pension plan factsheet
- METAS pension plan factsheet
- PUBLICA (office) pension plan factsheet
- FAOA pension plan factsheet
- SNM pension plan factsheet
- Swissmedic pension plan factsheet