Insurance

2024 introduces significant adjustments to Switzerland's occupational pension scheme, including a retirement savings start at age 25 and adjustments to the coordination deduction. Key reforms aim to make retirement provision fairer, especially for part-time workers and low-income earners.

Switzerland is struggling with rising health insurance premiums due to increased healthcare costs. Saving tips such as comparing rates, reviewing insurance models, and adjusting the deductible can help reduce costs.

In 2023, the maximum amounts for pillar 3a will increase to CHF 7,056 for employees and CHF 35,280 for the self-employed. Contributions must be made by December 31, 2023, in order to receive tax advantages.

Unemployment insurance (ALV) in Switzerland provides financial security for employees in case of unemployment and is funded by contributions from employees and employers. One is eligible for unemployment benefits if certain criteria are met; it usually covers 80-90% of the last net salary.

In the case of unpaid leave, accident insurance coverage ends after 30 days; for the pension fund and other social benefits, individual regulations must be observed. It is advisable to clarify insurance coverage and ongoing payments in detail before taking such leave.

Early saving in pillar 3a is worthwhile due to returns, tax savings, and valuable provident fund experience. Young adults can also start with small amounts and benefit from long-term advantages.

The federal law STAF led to increased contribution rates for AHV/IV/EO starting from January 1, 2020. The contribution rates for employees and employers rose from 10.25% to 10.55%.

The ESTV keeps the interest rates for the direct federal tax of 2019 stable, compensation interest remains at 0%, default interest at 3%. The maximum deductions for the third pillar increase, employees may deduct up to CHF 6826.

Voluntary contributions to the pension fund strengthen retirement provision and offer tax benefits, but should be reviewed for risks such as premature death and fund stability.