Lexikon

The sum of all capital from savings, contributions and interests accumulated by an insured person.

If the defined contribution plan applies in an occupational pension provision, the retirement pension is determined by the contributions paid. This could result in either a very high or very low retirement pension, depending on the last salary.

If the defined benefit plan applies, the retirement pension is calculated using a defined percentage of the salary.

This indicates the amount of capital of a Pension Fund in relation to its obligations towards its insured persons.  The funding ratio also reveals to what extent the obligations of the Pension Fund are covered by its assets. If it lies above 100%, there is more capital available than needed, if below 100%,  to little capital is available.

Upon death of a husband or wife, their spouse will receive benefits from the Pension Fund; if death occurs before retirement, a survivor’s pension is paid, if death occurs after retirement, a widow’s pension is due.

To increase your retirement pension, you may purchase additional pension benefits. This ensures that the savings capital will be increased when you retire which, in turn, increases your pension benefits. In addition, purchases made are tax-deductible, except in cases where the capital for such purchases comes from assets in pillar 3a. In case of death, any purchases made will be paid back to the heirs of the deceased and cannot be used to cover the survivors’ benefits.

If you consider early retirement, it is possible to pay additional capital into the Pension Fund, to compensate for any loss of pension benefits as a result of early retirement (lower conversion rate, missing interests). However: a decision to take early retirement from the Pension Fund is binding. Should you decide not to proceed with early retirement, the guidelines of the Pension Fund will ensure, that there is no financial benefit in doing so.

When changing your employer, you will also have to change the Pension Fund. The entire capital accumulated when leaving your employment will then be transferred to your new employer’s Pension Fund (vested termination benefit).  No capital may be kept in the previous Pension Fund.

When retiring, it is possible to withdraw a part or the entire capital from your Pension Fund. Any withdrawal will result in a reduction of pension benefits (or the complete loss of pensionable income) and can, at a later stage, also reduce any supplementary benefits, should you be entitled to receive such benefits.

The Pension Fund does not insure the entire salary. As a rule, a coordination deduction is made. Thereby it is taken into consideration, that the OASI, being another type of pension provision, does not overlap with the Pension Fund. The deduction reduces the premium as well as the retirement capital. Such deductions can be made but are not compulsory.

Anyone cohabitating may ensure that his or her partner are receiving benefits equal to a married spouse.

Document life partner ((verlinken))

The defined benefit plan ensures that the retirement pension is calculated on a certain percentage of the salary.

If the defined contribution plan applies in an occupational pension provision, the retirement pension is determined by the contributions paid. This could result in either a very high or very low retirement pension, depending on the last salary.

Pension provisions are generally tax-free. However, any purchases made, funding retrieved for purchasing a property, changing the saving plan or capital withdrawals may have an impact on your taxes. Therefore ensure that you get comprehensive advice prior to making any changes in your pension plan! Please contact us. ((Link auf die Unterseite «Kontakt»))

The Board of Trustees of the Pension Fund is the top executive body of the pension institution, equal to a  Board of Directors. It defines the strategies and  performance plans and ensure that the Pension Fund is well organised. The Board is made up of an equal number of employer and employee representatives. This is also applicable for the Board of Trustees of the PKSU. ((Link auf die Unterseite «Organisation»))

These reserves ensures that any loss from capital investments can be borne by the Pension Fund. It guarantees with a high probability that the funding ratio does not fall below 100%.

This is used to calculate reserves , for instance for retirement benefits. One assumes that the capital can be invested at a fixed interest rate, so that it is not necessary to have the entire capital available now. The higher the technical interest rate, the less capital is currently necessary, because interest earned is relatively higher.

This percentage indicates the amount of the retirement benefit, relative to the percentages of the accrued saving capital. The conversion rate is fixed every year by the Board of Trustees.

Any insured person from the age of 58, can decide to take early retirement from the Pension Fund.

The pension benefits will thus be reduced, but on the other hand, lifespan of profiting  from pension benefits increases. Any losses can be compensated through  purchases ((Link auf Unterseite 11, Sie werden 58 Jahre alt)).

The regulations specify how the pension provision functions and informs about the rights and obligations of the insured persons and who makes which contributions. Here you have access to the Pension regulations of the PKSU. ((Link auf das Dokument))