What happens if I become wholly or partly incapable of work due to an illness or an accident? What sort of insurance cover do I have? When do I start to get financial support? How much is the disability pension? All the important things you need to know about disability and pension provision with comPlan.
A person is disabled if it is to be expected that they will be permanently, or for a considerable time, unable to work (all the time or at all). A person's disability is recognised, and their degree of disability determined, by a ruling by the Federal Disability Insurance (IV).
If you become unable to work and the Federal Disability Insurance (IV) rules that you are no longer capable of gainful employment (or no longer capable of it on a full-time basis), you are entitled to a disability pension. Receiving one is conditional on your having been insured with us at the time you became unable to work. You may also receive disability-linked children's pensions from us.
If you are partially or completely unable to do your work due to illness or an accident, you will initially receive continuing salary payments and/or accident or sickness daily allowances.
You then become entitled to a disability pension once the Federal Disability Insurance (IV) recognises you as disabled. You will receive a disability pension from us subject to the following conditions being met:
You will also generally receive a disability-linked children's pension for each child. For this to happen, though, one of the following conditions has to be met:
Your disability pension and the disability-linked children's pensions will be paid for no longer than until you reach the age of 65. After that, you will receive a disability retirement pension and possibly disability-linked children's pensions.
The amount of your comPlan disability pension depends on your degree of disability:
The full disability pension amounts to 50% of the insured salary at the time you become disabled. A disability-linked children's pension corresponds to 20% of your disability pension for each child meeting the conditions. However, your disability pension and disability-linked children's pensions may be reduced if the sum of all pensions in the event of disability together with other eligible income (e.g. IV and UVG pensions and the remaining income from work) exceeds 90% of the last annual salary before you became disabled.
Once your sick pay and sickness benefits cease, you are entitled to our disability pension. This amounts to CHF 30,000 (CHF 60,000 × 50% for a whole disability pension) per year or CHF 2,500 per month. You will receive for each of your children a disability-linked child pension of CHF 6,000 (20% x CHF 30,000) per year or CHF 500 per month. Overall, you would receive annual pension benefits to a total amount of CHF 48,000 from us. Together with the IV benefits of CHF 39,600, all disability benefits would amount to CHF 87,600, which would be well above the previous insured earnings of CHF 60,000. However, the pension fund regulations specify that the total of all pensions may not exceed CHF 54,000 (90% of CHF 60,000), so our benefits are reduced to a total of CHF 14,400 (CHF 54,000 - CHF 39,600). The disability pension and disability-linked children's pensions must be reduced accordingly.
You can find out how much your disability pension is from your pension certificate on comPlan Online. It always refers to a 100% degree of disability and takes no account of reductions.
You will receive a disability pension up to the ordinary comPlan retirement age (65 for both men and women). At the same time, we will continue the process of saving for your retirement from the time you become disabled. From the date on which you become disabled, we continue to credit contributions under the Standard savings option to your retirement savings (so you are exempted from making any yourself) and pay interest on these savings. When you turn 65, your disability pension will be converted into a lifetime disability retirement pension.
This will be calculated on the basis of your retirement assets and the conversion rate applicable to your age at the time of retirement. However, the disability retirement pension amounts to at least 90% of the insured disability pension. This minimum amount is adjusted proportionately where some of the pension is taken as a lump sum.
Example: You are a disabled pensioner and receive a disability pension of CHF 28,800 per year or CHF 2,400 per month. At the age of 65, your retirement savings amount to CHF 600,000 and you want to convert this into a lifetime retirement pension. The conversion rate applicable to you is 5%. It follows that your lifelong retirement pension amounts to CHF 30,000 (CHF 600,000 x 5%) per year or CHF 2,500 per month. As the minimum amount of the retirement pension is CHF 2,160 (CHF 2,400 × 90%) per month, the conversion results in the 90% as guaranteed.
When you reach the normal comPlan retirement age (65 for men and women), you have the option of withdrawing all or part of your savings as a lump sum or converting them into a lifelong retirement pension. The retirement pension amounts to at least 90% of the insured disability pension. This minimum amount is adjusted proportionately where some of the pension is taken as a lump sum.
In order to preserve your pension capital, you must submit an application to withdraw capital at least one month before reaching retirement age (65 for men and women). If you are married or living in a civil partnership then your spouse or partner must co-sign the application with certification from a notary. Changes to the submitted application may be made up to one month before you reach retirement age and must also be co-signed by your partner (with certification from a notary). The lump sum is deducted from your retirement assets to calculate the amount of the retirement pension and is subject to capital tax at a reduced tax rate regardless of your income. If you take all your retirement savings as a lump sum, you will no longer be entitled to benefits (e.g. survivors’ benefits) from us from the date on which you retire.
Example: You are a disabled pensioner and receive a disability pension of CHF 28,800 per year or CHF 2,400 per month. Your retirement savings amount to CHF 600,000 at the age of 65. You would like to take CHF 100,000 as a disability retirement lump sum and convert the remainder into a lifelong disability retirement pension. The conversion rate applicable to you is 5%. It follows that your lifelong retirement pension amounts to CHF 25,000 (CHF 500,000 x 5%) per year or CHF 2,083 per month. As the minimum amount of the disability retirement pension is CHF 1,800 (CHF 2,400 × 90% × CHF 500,000 ÷ CHF 600,000) per month, the conversion results in the 90% as guaranteed. In the event of death, your spouse or registered partner would receive a lifelong pension of CHF 1,250 (60% x CHF 2,083) per month.
You will receive an IV advance payment from us if the following conditions are met:
In this situation, you are entitled to an IV advance from us.
The amount of the full IV advance corresponds to 50% of the insured salary on assumed occurrence of disability and, in addition, of the maximum IV pension at the time of grant (currently CHF 28,200 per year or CHF 2,350 per month) adjusted in line with your degree of employment. The amount is adjusted in line with the degree of incapacity to work. Your advance IV payment will end when the Federal Disability Insurance (IV) ruling becomes available, if the IV application is withdrawn or if you regain the ability to work The IV advance must be offset against the pension fund’s retroactive pension entitlements and the retroactive pension entitlements of the Swiss disability insurance scheme.
You can find out how much your disability pension is from your pension certificate on comPlan Online. It always refers to a 100% degree of disability. On this basis, you can work out for yourself how much an IV advance would amount to.
You don’t have to inform us of it. Your employer will inform us that you are no longer able to work (whether part-time or full-time) after 180 days. The rulings of the Federal Disability Insurance (IV) are sent to us directly. We will contact you if we need further documents.