Unjustified hike in minimum interest rate
The Swiss Insurance Association reacts with disappointment at the decision of the Federal Council today to raise the minimum rate of interest for occupational pension plans to 2.5% for 2005. The rate increase is a political decision, and is out of step with the economic realities that pension funds must live with. It also fails to give due consideration to the issue of pension security.
Zurich, 1 September 2004 – Due to the present degree of underfunding and the limited risk capacity of numerous pension funds, the FSOPP Committee advising the Federal Council had recommended keeping the present minimum rate of interest at 2.25% for 2005. That the Federal Council ignored the Committee’s recommendation is, from the insurance industry viewpoint, incomprehensible.
It is urgently necessary to depoliticise the process of defining the minimum interest rate. Indeed, the SIA has long favoured the use of a formula for this purpose, to ensure that the rate is in accord with sound investment planning, modellable, and economically viable. The SIA formula, which defines the minimum rate as 60% of the rolling average of ten-year Swiss federal bonds, would currently return a figure of 2.1%.
The SIA model would establish conditions under which the pensioners’ benefits would be covered 100% at any time. On the other hand, it would give a reasonable amount of leeway for investments with higher risk, but also higher yields. In accordance with the new regulations on the legal quote, at least 90% of any increased yields would have to be passed along to benefit recipients.
A second SIA demand is for the minimum interest rate to be determined no later than the end of March for the subsequent year. This would ensure that pension fund members could be informed of their future benefits before the customary cancellation deadline at the end of the first half-year.
Einheitskasse: Nein zu Bevormundung und leeren Versprechungen
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Die «Initiative für eine öffentliche Krankenkasse» schiesst am Ziel vorbei: Ein effizientes, bezahlbares Gesundheitswesen lässt sich nicht über ein staatliches Monopol erreichen. Mit der Einführung einer Einheitskasse würde ein bewährtes Modell qualitativ hochstehender medizinischer...
Teilzeitjob bei zwei Arbeitgebern – was ist mit der Pensionskasse?
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Je nachdem, wie hoch die Löhne bei den beiden Arbeitgebern sind, bieten sich verschiedene Regelungen der Pensionskassenunterstellung an. Massgebend sind dabei die Bestimmungen der Pensionskassenreglemente.
