Vorsorge-Cockpit/Pension-Cockpit

In recent months, SFTI’s insurance representatives have intensively addressed the question of how to jointly create added value for people in Switzerland in the pension environment.

The issue of old-age provision is a constant topic on the political agenda and in the media, particularly in view of the current interest rate situation (negative interest rates) and demographic trends (population ageing) and the resulting need for reform. According to „CS Sorgenbaromer“, the issue of pension provision is the number one concern among the Swiss population.

However, all such reform projects have been rejected in Switzerland in recent years. Also, many young Swiss people in particular do not seem to be concerned with the issue, or only very superficially. And this despite the fact that it is precisely these generations that will suffer most from the backlog of reforms.

One reason for this is certainly that the tried and tested three-pillar pension system in Switzerland with its various private and state providers has reached a considerable degree of complexity. For example, the income to be expected in old age across all three pillars cannot be predicted or can only be predicted with considerable effort.

The SFTI working group would like to make a significant contribution to eliminating this lack of transparency and is therefore launching the initiative for a digital pension dossier.

The digital pension dossier is intended to provide people in Switzerland with a simple and easy way of making offer a comprehensive overview of your pension situation (1st-3rd pillar). For this purpose, a platform is to be designed that integrates all relevant providers. In the future, the people in Switzerland will know at any time what pension income he or she can expect in old age and will see at an early stage where there is a need for action.

Furthermore, an appropriate platform will enable new innovative products and services in the area of old-age provision in the future.

At the same time, efforts are being made to minimize the manual effort still required for transfers from one pension fund to another through automation.

The working group set up by the SFTI includes leading insurance companies in Switzerland as well as banks. Furthermore, it is planned to involve policymakers at an early stage.