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Who is insured with comPlan as part of occupational benefits? What salary is insured and what contributions are due? Who makes what contributions to comPlan – a concise and simple overview.
You work for Swisscom or an employer company affiliated with comPlan and meet the following criteria:
You are insured with us starting from an annual salary of CHF 3,000, provided you are at least 18 and at most 65 years old in the current calendar year and have an employment contract for an unlimited period or a fixed-term employment contract for more than three months.
Your base salary and the performance-related component with a 100% degree of target achievement are insured. All other salary components such as bonuses, seniority bonuses, allowances, fringe benefits, etc. are not included in the insured salary. Important: We do not deduct a coordination deduction from the annual salary. This means: Your entire salary is insured with us. If you are employed by Worklink in a model with a fluctuating salary (category F, follow-up solution or hourly salary) we will calculate disability or death benefits based on your average salary over the last 12 months. You can find your insured salary on your pension statement on comPlan Online.
You are insured with us as of the day on which your employment starts with your affiliated employer or on which you are entitled to a salary for the first time.
Your retirement savings insurance ends on the last working day with your affiliated employer. If you do not join another pension fund immediately afterwards, you will remain insured with us for the risks of death and disability for one month after the termination of your pension relationship. Thereafter, all insurance benefits expire.
You can continue to take out voluntary insurance with us after termination of your employment if you are at least 56 years old and are not subject to compulsory occupational benefits (BVG): Your insured salary remains unchanged in this situation and you have to pay both employee and all employer contributions. You can stay insured with us for a maximum of two years and up to your 60th birthday. You can view the current level of your contributions in your pension statement at comPlan Online.
comPlan offers three savings options for retirement provision: Standard, Plus and Extra. All options go well beyond the minimum required by law. If you don’t choose an option, you automatically save in the Standard option. Switching to the Plus and Extra savings options increases your savings contributions - but also your salary deductions. This will reduce your paid salary. At the same time, your retirement savings continuously grow and the tax burden is usually reduced. The employer's savings contributions are the same for all three savings options.
You can view the current level of your contributions, your current retirement savings balance and the expected amount of your retirement benefits in your pension statement at comPlan Online.
You can choose the savings option when you join and on 1 January each year thereafter. When you join, you can choose a higher savings option using the form. You can then increase or reduce your savings contributions each year on 1 January.
You can change your savings option on comPlan online from early May to mid-January.
The costs for the insurance of the risks of death and disability are fully paid by your employer at comPlan. The amount of the risk contributions amounts to 2.45% of the insured salary for all insureds. With these contributions, comPlan finances all disability pensions, the associated disability children's pensions, but also all spouse's and orphan's pensions and death benefits. You can view the level of the risk contribution in your pension statement at comPlan Online.
When you retire, your lifelong pension will be calculated at the conversion rate. This amounts to 5.34% of your retirement savings with comPlan at the age of 65. From a technical point of view, however, this rate should only be 4.9%. Each retirement thus generates a conversion loss: comPlan pays out a higher pension than the saved assets are able to finance. We close this gap with a contribution of 1.2% of the insured salary total. This contribution is fully funded by your employer.
You can see the amount of the conversion loss contribution for you in your pension statement.
Due to lower interest and investment income and rising life expectancy, comPlan had to lower the conversion rate. For insureds born in 1969 and older who were insured with comPlan on 31 March 2017, retirement pensions at age 65 are reduced by a maximum of 6% in the Standard savings option. These insureds receive extraordinary contributions in favour of their retirement savings for 60 months. The costs of this cushioning measure are being financed by Swisscom (CHF 50 million) and comPlan (CHF 250 million).
You can see the amount of the monthly special contribution on your pension statement.
The extraordinary contributions will be credited over 60 months from 1 July 2017. If you retire, become disabled or die, the remaining extraordinary contributions not yet credited will be taken into account when calculating the benefit. If you leave your employer within the 60-month period, you are no longer entitled to the extraordinary contributions that have not yet been credited. This ensures that the contributions benefit those who have long-term insurance with us or are retired with us.
You can see the credit of the monthly special contribution on your pension statement.
All details accurate as of December 2018. Subject to change. The provisions of the pension regulations apply in any case.
