Occupational benefits (Pillar 2) My pension fund

Does your employer use AXA for your occupational pension? Here you can find useful information on the pension fund.

Welcome to the AXA pension fund information site for employees. Here you have direct access to the myAXA pensions portal, the portal for your Pillar 2 pension at AXA, our practical forms service, and answers to key questions on occupational pensions (Pillar 2 pensions): 

  • Switching pension funds – What do you need to do when you change jobs?
  • How  can you use your pension fund assets to help you buy your own home? 
  • How can you fill any pension gaps by making voluntary payments to the pension fund? 
  • How should you interpret and understand your pension fund certificate?
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Pensions portal on myAXA

The benefits of the myAXA pensions portal

  • Clarity: You can view all the information on your pension fund online in the myAXA pensions portal at any time – and everything is explained clearly and simply. 
  • Better planning for the future: In the myAXA pensions portal you can calculate the impact on pension benefits of an advance withdrawal for the purchase of residential property or a voluntary payment for tax optimization purposes.
  • Option of buying additional benefits: Thanks to the myAXA pensions portal you can identify and close pension gaps.

Forms service

Would you like to apply for a purchase in the pension fund or do you want background information concerning occupational benefits insurance? wincoLink-print gives you a comprehensive overview of all the relevant forms and documents. You can access them at any time and they are always up to date.

Procedure

The link below will take you directly to the forms service. Simply enter your contract number. Fill out the forms directly on your monitor, print, sign , and send them to us by post. To ensure faster processing, be sure to use the latest version of the forms. For this reason, please don’t print out a stock of forms and please don’t save any empty forms for future use.

To the forms service

Changing/leaving the pension fund

Are you registered with AXA or another pension fund and are now changing job? Or are there other reasons, such as becoming self-employed and wanting to leave your current pension fund? Then you should follow the steps below:

  1. Find out from your new employer about the new pension fund's payment information.
  2. Pass on this payment information to your current pension fund or ask your previous employer to advise the current pension fund that you are leaving. 
  3. Ensure that you follow these steps before you leave so that you receive a statement of your credit balance from your current pension fund and that the money is transferred directly to the new pension fund.
  4. If the change isn't registered, perhaps because there is no new employment arrangement, the money will be transferred into a vested benefits account. The money can be recalled from there.

Notification if you are changing/leaving

You should also note the following:

  • You will remain insured with your current pension fund against the risks of death or disability for one month after employment has ended.
  • As a rule, entitlement to vested benefits begins only from the age of 25 because the savings process for Pillar 2 pensions starts only on January 1 following the year in which you reach age 24. From the age of 17 to the age of 24, the insurance covers only the risks of death and disability.

Reading the pension fund certificate correctly: Here’s how it works

The pension fund certificate contains information on your future pension benefits and your insurance cover, for example, for occupational disability. Here are some helpful hints to help you locate the relevant information quickly:

A guide to your pension fund certificate

Financing home ownership: Advance withdrawal from your pension fund

Good planning is needed if your aim is to own your own home. Especially when it comes to financing. What’s important is to realistically estimate the costs, and to understand the implications and the correct procedure. The first of two possibilities for raising capital is an advance withdrawal from your pension fund.

Advance withdrawal of pension assets

You can make an advance withdrawal every five years – at the latest until the claim to retirement benefits arises. But please note: Have you purchased contribution years in the past three years? If so, you cannot withdraw the amount from your pension plan for three years from the date when you purchased contribution years.

Conditions

  • You have retirement assets of more than CHF 20,000 on your pension fund account.
  • You are not disabled.
  • You are not yet in receipt of any retirement benefits.
  • Your last advance withdrawal took place more than five years ago.

Minimum amount

CHF 20,000

Maximum amount

Until age 50, the maximum amount is equal to your total vested benefits. After that, you receive as a maximum the higher of the following amounts:

  • The vested benefits at age 50
  • Half of the vested benefits at the time of the pledge

Implications

  • Lower retirement pension in the future
  • Reduced disability/death benefits
  • Taxes: The pension fund informs the Swiss Federal Tax Administration of the advance withdrawal within 30 days. The capital withdrawn in advance must be taxed as a lump-sum payment from your retirement assets.
  • Sales restrictions in the land register: If you make an advance withdrawal to buy your own home, a sales restriction will be entered in the land register. If you sell the property, the amount withdrawn must be repaid to the occupational benefits institution.

Repayment

As soon as the conditions for an advance withdrawal are no longer met, the amount must be repaid to the occupational benefits institution.

Procedure

You must give the pension fund proof that you meet the requirements for an advance withdrawal by submitting an application and all the necessary documents (e.g. valid purchase agreement, construction permit, excerpt from the land register, etc.). If you are married, you also require the written agreement of your spouse.

Recommendations

Protect yourself against reductions in benefits in case of disability or death with occupational disability insurance and / or term life insurance.

Purchase of pension fund benefits

Salary increases, joining a pension fund after age 25, divorce, or time off to care for children – all of these situations can result in a gap in your pension savings. You can close a pension gap and improve your coverage by purchasing additional benefits.

What is a pension gap and how does it happen?

A pension gap is the difference between your maximum possible retirement assets and your actual retirement assets. Pension gaps are common. They can be filled by purchasing benefits so as to avoid benefit reductions in old age.

Reasons for pension gaps:

  • Gaps in gainful employment
  • First job after age 25
  • Changing from part-time to full-time working
  • Salary increases
  • Improved pension plan following change of job
  • Pension gap following divorce due to division of pension fund assets
  • Early retirement

Advantages of purchasing pension fund benefits

  • Close pension gaps
  • Improve retirement benefits
  • Finance early retirement
  • Saving on taxes 

Purchase of pension fund benefits: Optimize your tax position

As you can deduct pension fund purchases from your taxable income, a purchase of pension fund benefits always leads to tax optimization. You can carry out a provisional calculation by using the Swiss Federal Tax Administration's tax calculator.

To the Tax calculator

Maximum purchase amount

Compare the maximum possible retirement assets with the amount that is currently available. The difference is the maximum purchase amount. Refer to your pension fund certificate or your employer for more information.

Restrictions

In principle, a purchase is possible at any time, provided that this is permitted under your pension fund regulations. Any advance withdrawal for financing the purchase of residential property must be repaid  unless you will be retiring in less than three years or you would like to close a pension gap that has arisen through divorce.

Procedure

Inform your pension fund that you wish to purchase additional benefits via the forms service or the myAXA pensions portal. You will be informed of the maximum amount you can pay in and will receive a payment slip.

Planning for retirement

More time for traveling, new hobbies, sports, grandchildren, and friends, etc. Retirement marks the start of an exciting time with lots of new opportunities.

Read more about planning for retirement

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The key terms concerning the pension fund

  • Retirement assets

    Retirement assets are the amount that accrues in your occupational benefits account under a Pillar 2 plan. Your retirement assets comprise:

    • Individual retirement credits
    • Vested benefits brought into the fund
    • Any amounts paid into the account by your employer and/or a benefits purchase,
    • Interest that has been credited
    • Surplus participation

    The amount of your mandatory retirement assets is determined solely by the retirement credits and amounts that are paid into the account pursuant to the minimum BVG (OPA) provisions, plus interest. The minimum interest rate is set by the Federal Council.

  • Retirement credits

    Retirement credits are used to build up retirement assets. They comprise the savings contributions the employee and the employer pay into the account. The level of retirement credits is specified in the regulations of every occupational benefits institution and is generally defined as a percentage of the insured salary. Pursuant to the BVG (OPA), the following percentage rates apply:

    • Women/Men: age 25-34 receive 7%
    • Women/Men: age 35-44 receive 10%
    • Women/Men: age 45-54 receive 15%
    • Women/Men: age 55-65 receive 18%

    Setting the reference age (formerly: normal retirement age) to 65 for both men and women means that the age for women will be raised from 64 to 65. Starting on January 1, 2025, it will be raised by three months each year until the reference age is the same. Women born in or before 1960 will not be affected by this. This means that women born in 1962 can retire in 2026 with a reference age of 64 and 6 months.

  • Retirement capital

    The retirement capital is the same as the retirement assets at the time of retirement. The projected retirement capital is included in your personal certificate (pension fund certificate). It is a projection of the available retirement assets and is based on your current pensionable salary, the regulatory retirement credits, and the current guaranteed interest rates.

  • Retirement pension, occupational pension benefits

    You can calculate your annual retirement pension by multiplying the retirement assets on the retirement date by the conversion rate on that date.

  • Several employers

    If you work for several employers and don’t achieve the minimum annual salary pursuant to BVG (OPA) with any single employer, you can insure yourself voluntarily with the occupational benefits institution of one of your employers. If this is not possible, you can insure yourself with the BVG/OPA Substitute Occupational Benefit Institution.

  • The Substitute Occupational Benefit Institution

    This is a nationwide occupational benefit foundation. In accordance with the BVG (OPA), it is required to undertake the following tasks:

    • Mandatory enrollment: Enrollment of employers who fail to comply with the requirement to enroll with an occupational benefits institution
    • Company affiliation on request: Companies can join the Substitute Occupational Benefit Institution on request
    • Voluntary insurance of individuals, e.g., self-employed persons and persons with several employers (whose total annual salary exceeds the BVG/OPA minimum salary)
    • In the case of employers who are not enrolled with an occupational benefits institution: Provision of BVG (OPA) benefits for their employees
    • If pension insurance is interrupted: Manage vested benefits accounts for individuals who do not join a new occupational benefits institution and do not inform their former occupational benefits institution within two years that they wish to maintain their pension provision
    • Individuals receiving unemployment insurance: Manage the mandatory insurance for the risks of death and disability for individuals receiving daily benefits from unemployment insurance.
  • Contributions

    Pension funds collect contributions with which they finance their benefits. These are paid by employers and employees together. The contributions depend on various factors, such as:

    • the age and gender of the insured person
    • the type of pension plan
    • the pensionable salary.

    The division of contributions between the employer and employee is defined in the pension fund regulations. Employer contributions must equal at least the total contributions of all employees. The employer deducts employees’ contributions directly from their salary.

  • Exemption from contributions in the event of disability

    Exemption from contribution payments is an insurance benefit. An insured person who is incapacitated or disabled prior to reaching retirement age is exempt from having to pay contributions once the agreed waiting period ends. The occupational benefits institution will continue to fund the pension at its own expense.

  • BVG (OPA) age

    Your BVG (OPA) age is calculated by subtracting your birth year from the calendar year. Your BVG (OPA) age can therefore be a year higher than your actual age.

  • BVG (OPA) pension benefits

    The Federal Law on Occupational Old Age, Survivors' and Invalidity Pension Provision (BVG/OPA) defines the following occupational benefits:

    Retirement benefits

    • Retirement pension
    • Retired person's child's pension

    Disability benefits

    • Disability pension
    • Disabled person's child's pension

    Survivors benefits

    • Widow’s or widower’s pension (partner’s pension)
    • Possibly: One-time lump-sum for eligible survivors
    • Orphan’s pension 
  • Occupational disability

    A person is considered to be unfit for work if they can no longer carry out their job or another reasonable working activity or can only work to a limited extent:

    • An illness that has been objectively diagnosed by a doctor
    • Accident
    • Infirmity 
  • Vested benefits case

    This applies if you leave an occupational benefits institution before claiming benefits (retirement, disability, death), for example, if you change your employer.

  • Vested Benefits Act / voluntary insurance

    Not everyone is subject to mandatory occupational benefits insurance. If you are self-employed or work for several employers, you can opt for voluntary insurance if your total annual salary exceeds the minimum BVG (OPA) salary.

    Self-employed persons also have the option to enroll with the benefits institution of their professional association or of their employees. If this is not possible, they are entitled to take out insurance with the Substitute Occupational Benefit Institution.

  • Vested benefits

    If you withdraw early from an occupational benefits institution, you are entitled to the assets, referred to as vested benefits, that accrued during this time. The pension fund regulations define the vested benefits amount. The Vested Benefits Act guarantees a minimum in benefits.

  • Vested benefits policy/vested benefits account

    If you temporarily or permanently withdraw from an occupational benefits institution (e.g., if you quit your job, take leave, or go abroad) and are unable to transfer your vested benefits to a new institution, they will nevertheless be paid out. However, they are not at your disposal. They can be paid out in two different ways:

    • You can deposit them in an account with a vested benefits institution.
    • You can use the amount to purchase a vested benefits policy. 
  • Early retirement

    Early retirement is possible once you reach age 58, provided that the regulations of your occupational benefits institution permit you to do so. Withdrawing from professional life at an even earlier date is possible only

    • in connection with an organizational change,
    • for jobs (e.g. pilots) where early retirement is mandatory for public safety reasons. 
  • Flexible retirement

    Flexible retirement is possible between the ages of 58 and 70. Here you can reduce your annual salary either gradually or all at once, up to when you retire. The following conditions apply to flexible retirement:

    • The regulations provide for flexible retirement.
    • Medically, you are fully capable of working on the date of the first reduction.
  • Disability pension

    A disability pension is payable if the insured person becomes disabled before reaching the reference age (formerly: normal retirement age) and the agreed waiting period has expired. The amount of the disability pension is defined in the pension fund regulations.

  • Disabled person's child's pension

    Persons who draw a disability pension are entitled to a disabled person's child's pension for each child eligible for support. Eligibility applies to children

    • up to their 18th birthday
    • up to their 25th birthday if they are in school or training,
    • until gainfully employed, but at the most up to their 25th birthday, and if their disability level is 70% or more.

    Minimum BVG (OPA) requirements state that a disabled person's child's pension is 20% of the statutory disability pension.

  • Disability

    Permanent or long-term full or partial restriction of a person's ability to work or earn an income.

  • Level of disability

    Restriction on a person's ability to work in percent. The IV invalidity insurance scheme determines the level of disability.

  • Lump-sum option

    When you reach retirement age, you can withdraw 25% of your retirement assets from the mandatory portion of your occupational benefits plan as a lump sum.

    If your occupational benefits institution's regulations permit, you can also withdraw all your retirement assets as a single lump sum. To do this, you will need to inform your pension fund before you retire. Your pension fund regulations may specify a notice period.

  • Child's pensions

    The following are entitled to receive a child's pension:

    • biological and adopted children
    • the insured person's foster children as defined by the AHV/IV (OASI/IV)
    • stepchildren who receive full or primary financial support at the time of the insured person's death.
  • Life partner

    A life partner is a person who

    • receives significant financial support from the insured
    • shared the household with the insured person throughout the last five years up to their death
    • is responsible for supporting one or more joint children.

    Life partners may not be married or related to each other or live in a registered partnership.

  • Retired person's child's pension

    Persons who draw a retirement pension are entitled to a retired person's child's pension for each eligible child. Eligibility applies to children

    • up to their 18th birthday
    • up to their 25th birthday if they are in school or training,
    • up to their 25th birthday if they have a disability level of 70% or more.

    Minimum BVG (OPA) requirements state that a retired person's child's pension equals 20% of the statutory disability pension.

  • Pension fund certificate

    Every year you receive a pension fund certificate. This personal certificate contains all the key information pertaining to your occupational benefits insurance:

    • Annual salary
    • Insured salary
    • Retirement, disability, and death benefits
    • Proportion of the retirement benefits you can draw as a lump sum
    • Retirement assets
    • Vested benefits
    • Maximum advance withdrawal to fund home ownership
    • Permitted amount for the purchase of additional benefits
    • Total annual contribution
    • Annual contribution by employee
  • Personal certificate

    The personal certificate (which is also known as a pension certificate or pension fund certificate) is provided for information purposes. It contains all the important information about your insured benefits under the occupational benefits program.

  • Pension

    A pension refers to regular payments made to an insured person for a fixed period or for life.

  • Retirement age

    Starting on January 1, 2024, the term 'reference age’ will replace the term ‘normal retirement age’ in Swiss law. The reference age is the age from which an insured person can start drawing their retirement pension without reducing their benefit payment.

    Reference age

    With the introduction of the OASI Reform 21, the reference age of 65 will now apply to both men and women. The retirement age for women is being gradually raised from 64 to 65. For women who were born after 1960, the retirement age will be increased by three months each year starting in 2025 until the new reference age is reached.

  • Risk insurance

    Risk insurance is a type of life insurance that offers financial protection against the risks of death and occupational disability.

  • Self-employed persons

    Self-employed refers to anyone not working under an employment contract and who the AHV (OASI) has recognized as being self-employed. Self-employed persons are responsible for managing their own pensions.

  • Death benefit (lump sum)

    A death benefit (lump sum) is a single payment made to the beneficiaries as defined in the regulations when the insured person dies.

  • Extra-mandatory benefits

    The law prescribes which benefits must be insured and to what extent as a minimum. However, the employer has the option of providing better insurance for their employees. Benefits that exceed the statutory minimum are therefore extra-mandatory benefits.

  • Conversion rate

    The conversion rate is used for calculating the annual retirement pension. and comprises a factor for calculating the available retirement capital. The Federal Council sets the minimum conversion rate in accordance with the BVG (OPA).

  • Unpaid leave

    Unpaid leave is treated differently from termination. The employment contract remains in force; only salary payments cease temporarily. During unpaid leave, persons previously insured under the BVG (OPA) generally have the option to continue their pension coverage without restrictions, or at minimum to remain insured against the risks of disability and death. The employer and employee agree individually on how to divide the contributions.

  • Insured or coordinated salary

    By law, occupational pension insurance does not cover your entire salary. A “coordination deduction” is applied to your AHV (OASI) salary and there is a cap on the insured salary. The coordination deduction applies to the part of the annual AHV (OASI) salary that is already insured under Pillar 1 (AHV/OASI). You can find the exact definition of salary in your pension plan.

  • Benefits case

    A benefits case (i.e., a case where benefits are payable) occurs when a person reaches retirement age, becomes disabled, or dies.

  • Pension regulations

    Every occupational benefits institution issues its own regulations that define the scope of its occupational benefits insurance. The pension fund regulations must specify the following:

    • The various categories of benefits (e.g. retirement, disability, death)
    • The various groups of insured persons (e.g. employees, managers) 
    • The conditions for entitlement (e.g. duty to provide support)
    • The various pension plans (BVG/OPA plan, plan for managers)
    • The way that benefits are financed (e.g. annually, quarterly, payments in arrears),
  • Orphan's pension

    Orphan's pensions are paid when an insured person dies and leaves behind eligible children. Eligibility applies to children

    • up to their 18th birthday
    • up to their 25th birthday if they are in school or training,
    • until gainfully employed, but at the most up to their 25th birthday, and if their disability level is 70% or more.

    Minimum BVG (OPA) requirements state that an orphan's pension is 20% of the statutory disability pension.

  • Waiting period

    The waiting period is the time between the date on which a person becomes unable to work and the date on which the disability pension or exemption from premium payments begins.

  • Widow's/widower's pension

    A widow's or widower's pension is the amount paid to the partner of a married insured person when that person dies.

  • Promotion of home ownership

    You can make an advance withdrawal or pledge personal pension assets to finance the purchase of owner-occupied property.

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