The main points of the «OASI 21» reform

Reference age for women

The core of the «OASI 21 reform is the increase in the retirement age (now known as the reference age) to 65 for women for OASI and compulsory occupational benefit schemes. This means that women will reach ordinary retirement one year later than before. For women who are close to retirement, the increase will be cushioned and will take place in annual increments of three months.

Flexible retirement

The «OASI 21» reform introduces statutory provisions for flexible retirement for the first time for occupational benefit schemes. In the future, this will also enable flexible retirement for those whose pension fund has not previously provided for this.

With «OASI 21», all pension funds will be obliged to enable insured persons to take early retirement from the age of 63. In the pension solutions from Helvetia's collective foundations, men and women have already been able to retire from the age of 58.

It is still possible to defer retirement until the age of 70, provided that the insured person continues to work beyond retirement age.

With «OASI 21», all insured persons are also entitled to agree on semi-retirement with their pension fund. Retirement benefits can now be drawn in up to five stages between the ages of 58 and 70.

Further details on flexible retirement and the legal basis can be found in «Helvetia – News on the 2nd pillar 2024».

Withdrawal of retirement benefits as capital

«OASI 21» will restrict the withdrawal of retirement benefits in the form of retirement capital. A maximum of three capital withdrawals is now permitted. If the salary paid by one employer is insured with multiple pension funds (e.g. in the case of separate solutions for the basic and management schemes), the capital withdrawals are considered cumulatively. Retirement capital withdrawn in the same calendar year will be deemed to be a single withdrawal. You will also find all the necessary details on this topic in «Helvetia – News on the 2nd pillar 2024». 

Increase in the statutory LOB minimum interest rate

The Federal Council has increased the LOB minimum interest rate from 1.00% to 1.25% as of 1 January 2024, although pension funds can also grant higher interest rates. Additional income or interest and risk surpluses are also possible, depending on the pension model.

Key figures and limits

The most important key figures and limits for the first, second and third pillars of our social security system will remain unchanged. An overview of these figures can be found in «Helvetia – News on the 2nd pillar 2024», in the section entitled «Market and social insurance».

Further political developments

A lot is happening in terms of retirement provision. Two more popular initiatives will be put to the vote on 3 March 2023. The popular initiative «For a secure and sustainable pension system» (Pensions Initiative) calls for an increase in the reference age for men and women to 66 years and for the reference age to be linked to life expectancy. And the popular initiative «For a better life in retirement» (Initiative for a 13th OASI pension payment) requires that all pensioners be entitled to a 13th OASI pension payment. The Federal Council and Parliament recommend that both initiatives be rejected. 

The «LOB 21» reform of occupational benefits cleared the parliamentary hurdle in the spring of 2023. However, a referendum was launched against it. The people now have the last word, with a referendum expected to take place on 9 June 2024.

Handle personnel and salary notifications efficiently thanks to ELM

Employers must report their employees' salaries for the new year by the end of January at the latest. This can be done directly and extremely efficiently at Helvetia with the uniform payroll reporting procedure (ELM) for ¬occupational benefits. Of course, individual notifications can also be made via ELM during the year.

Save time: If you forward personnel and salary notifications directly to us from your payroll accounting system¬ using ELM, they no longer also need to be recorded in BVGonline as they are automatically documented there.

You will find all the information on the possibilities of BVGonline and ELM for LOB on our websites.