Knowledge of Swiss People about Prevention Remains Low
Published: Thursday, Sep 28th 2023, 08:39
Updated At: Friday, Oct 13th 2023, 14:12
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The Swiss population's knowledge of the pension system remains at a low level according to a study by Raiffeisen. In particular, knowledge of occupational pensions is lacking. The best-known pillar is the third pillar, while only a third of those surveyed are aware that well-invested pension fund assets can have a positive effect on the amount of the pension. At the same time, more and more people are planning an early retirement. The survey also revealed that 39% of respondents rated their pension knowledge as "average", while almost 10% had no knowledge of the subject. There is also an increasing desire for more individualised pension solutions and a transition to the "third stage of life". 8.5% of those surveyed planned to retire before the normal retirement age, compared to 5.6% five years ago. In addition, more than 70% of those surveyed could imagine staying in employment after reaching the normal retirement age, either part-time or full-time. However, opinions were divided on the question of switching to a life-time work model, with almost half in favour and against. Trust in the pension system remains low. Private pensions have the highest level of trust, while the AHV has the lowest. This may be due to the increased complexity of pension flexibility and incentives for continued work after the normal retirement age. Older people in particular see themselves as primarily responsible for having enough financial resources after retirement. At the same time, the trend towards equity savings in the third pillar remains unbroken, with around 42% investing at least part of their 3a funds in financial markets.
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