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Starting out

How much you pay depends on your age, and which plan you choose to join.

The Base Plan

Retirement savings

In the Base Plan, you have the option to choose from two different levels to suit your needs:

  • Base Plan normal; and
  • Base Plan light.

The default option is normal and the total contribution rates are as follows:

Age group Contribution rate (% of Insured salary)
Under-25s N/A
25-34 10%
35-44 13%
45-54 18%
55-NRA (Normal Retirement Age) 21%

You pay half of the total contribution and your employer pays half.

If you want to pay less, you can choose to switch to light. In the light option, the Company pays the same amount in contributions, but you pay 2% less.

Your current pension plan is shown on your annual benefit statement. To choose a new plan, visit the Employee Benefits Center during the selection period.

Disability and death benefits

In the Base Plan, there is a yearly risk premium. You pay half of this, and the Company pays half.

The 1e Plan

Retirement savings

In the 1e Plan, the contribution rates are the same as in Base Plan normal. However, you pay 40% of these contributions, and the Company pays 60%.

Disability and death benefits

In the 1e Plan, there is a yearly risk premium. You pay 40% towards this, and the Company pays 60%.

What tax do I pay?

Retirement savings

In Switzerland, contributions and Additional Voluntary Contributions (where applicable) to pension schemes are tax free and are deducted from your taxable income.

When you retire, you will pay tax on your pension payments and on the lump-sum payment.

Your pension will be taxed at your normal rate of income tax. Lump-sum payments are taxed at a reduced tax rate. Though you will have to pay wealth taxes on these, the reduction in income tax usually overcompensates for this.

Tax rates for income and wealth differ widely depending on which canton you live in. You should therefore check which rates of tax you are subject to before making any retirement decisions.

Disability and spouse’s pensions

The disability and spouse’s pensions will be taxed when they are paid out, at normal income tax rates. Lump-sum payments from death benefits will be separately taxed at a reduced tax rate.

How much will I get?

How much you get at retirement depends on which pension plan you’re a member of, how much you contribute, and rates of interest/investment returns.

Retirement savings

In the Base Plan, your retirement savings (which are invested according to the strategy set by the Pension Committee) grow by:

  • the amount of your and IMI’s contributions; and
  • a yearly interest payment, which is annually defined by the Pension Committee (this is equal to, or higher than, a minimum rate set by the Government).

When you retire, you can take between 10% and 100% of your retirement savings as a lump-sum payment. The remaining amount will be paid to you as a pension for life (the amount you are paid is calculated using the conversion rate in the pension plan (Technical Annex) available on the Employee Benefits Center.

In the 1e Plan, your retirement savings grow by:

  • the amount you and IMI pay in contributions; and
  • returns on investments (you can choose how your account is invested from the choices provided by the Pension Committee, and can change your investments once a month).

When you retire, you will receive your total retirement savings in the form of a lump-sum payment.

Disability and death benefits

You or your dependants are entitled to benefits in the event that you become disabled or die. You can find more information about this under Life events.

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