Part-time work and lower wages pose a risk to a person's retirement. Careful planning is important.
For two pillars, AHV and Pensionskassen should be guaranteed 60 percent of their previous earnings after retirement. But the system shakes. At present, retirement income can already be significantly lower. He who has no third pillar of the tomb hole needs to adjust his standard of living, much down. Part endangers even the poverty of older people.
The new UBS study shows that this may be limited, especially for women of old age. But not only.
Fictitious example of Sandra
Sandra has been managing her hairdressing salon for 30 years. Business is better, sometimes worse. On average, she earns 45,000 francs a year. From this amount she pays mandatory AHV contributions and places as much as she can on her pillar account 3a.
When Sandra retires, she will wait for a pension of 2980 francs a month. With money she can live in Switzerland much worse than proper.
Why the pension is so deep, explains UBS's author Jackie Bauer: "Firstly, this salary is not enough to reach the full AHV. On the other hand, in this example, Sandra does not have a pension fund."
Self-employed and pension fund
Self-employed persons can freely pay to a pension fund or not. "With this low pay she has decided not to do so," said Bauer.
Of course, this example is an exceptional case, said Bauer. However, according to the study, women generally receive fewer pensions than men.
Preferring women at first sight
At first glance, women look positive, such as AHV. As 66 percent of all deposits come from men. However, only 46% of AHV's retirement benefit is granted to them. In addition, women generally receive the same conversion rate for pension funds as men, although they work less and on average more than three years.
However, at a second moment, it is in a disadvantaged position
However, all these benefits do not compensate for lower incomes, child labor breaks and subsequent part-time pensions, said Jackie Bauer, a precautionary expert.
Important research shows that women who work part-time are much lower pensions. For example, many affected women do not receive maximum AHV pension waivers, unless they are married to a full-time worker.
Part-time work as a problem
According to the Federal Statistical Office, four out of ten women work in a reduced amount. Three of them work under 50 percent. This is much more than in other European countries.
Although men in Switzerland are generally full-time, there is an increasing number of men who have reduced the workload of cultural change in the field of child upbringing. For them, basically the same thing as women, says Jackie Bauer.
Low salary as another obstacle
Whether it be a man or a woman, it will become financially tighter even if the gross salary falls below 85,000 francs. Then the insured person will not receive the maximum AHV pension. At least not if the person is not married and can rely on the partner's deposits.
And even with the second pillar, low wages may be a problem, says Bauer: "The second pillar has the challenge of overcoming the barrier of more than 20,000 francs, because all the capital is insured in the second pillar."
Part-time work keeps women in working life
While calculating whether maternal employment is financially worthwhile may sound like that. After deducting care costs, wages are often low. But short term considerations are rarely worth it, account must also be taken of the disadvantages of retirement, so Bauer. Moreover, a woman still works part-time in the long-term job market.