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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 take out voluntary insurance with us after termination of your employment relationship if you are at least 56 years old and meet various other conditions. You can find more information on the possibilities of voluntary insurance under the heading "Life circumstances" on this website.
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 1.75% 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 with the conversion rate. Your retirement savings multiplied by the conversion rate result in your yearly retirement pension. The conversion rate with comPlan will be gradually reduced to 5% at age 65 from 01.01.2023. From a technical point of view, however, this rate should be well below 5%. 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.
The future returns on most investments are strongly dependent on the interest rate level on the financial market. This has been low for years, which will lead to lower returns on investments in the future. Therefore, comPlan has to lower the conversion rate. Extra contributions are amounts that are credited to your retirement savings in addition to the savings contributions and interest. The credits directly influence the amount of the retirement pension and thus help to cushion the effects of the lower conversion rates. The extra contributions are charged to comPlan.
You can see the amount of the monthly extra contribution on your pension statement.
The extra contributions will be credited monthly. If you retire, become disabled or die, the remaining extra contributions not yet credited will be taken into account when calculating the benefit. If you leave your employer, you are no longer entitled to the extra contributions that have not yet been credited (unless you leave the social plan). 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 extra contribution on your pension statement.
All details accurate as of September 2021. Subject to change. The provisions of the pension regulations apply in any case.
