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Pillar 2
Insured persons receive a pension fund statement once a year. If you understand the information in it correctly, you can optimize your occupational pension for old age and the event of death or disability.
Content:
Every year, the pension fund statement lands in your mailbox or email inbox. Many recipients quickly lose interest because of the dry list of tables packed with numbers. But for many employees, pension fund assets are the most significant assets they own. So it’s worth taking a closer look. Doing so allows you to see what options you have for optimizing your pension. The overview gives you the opportunity to change course in good time in order to improve your pension situation in pillar 2 or, if necessary, pillar 3.
Once a year, all of the approximately 1,300 pension funds send the pension fund statement, also known as the pension certificate, to all its members. It’s similar to an account statement and contains important information about the status of your occupational pension.
The pension certificate will look different depending on the pension fund. However, some essential information is always included. According to the BVG Act, the pension fund must inform you annually on its own initiative about your benefit entitlements, insured salary, contribution rate and pension assets. On request, it must also provide further information, such as investment income, actuarial risks, administrative costs, reserves and the funding ratio.
When you think about your retirement, you are faced with some important decisions. Let’s draw up a plan together based on your personal wishes, so that nothing stands in the way of a relaxed financial future.
The most important information on the pension fund statement is your expected pension or lump-sum payment, which you will receive from pillar 2 when you retire. In addition, you will usually find other important information, such as:
Please note: Although you see specific figures on the statement, these are subject to change based on your current income, the current conditions of the pension fund and the legal situation. Between now and retirement, the figures on the pension certificate will change. This is especially true the younger you are. Conversely, the figures become more meaningful the closer you get to retirement.
We use eleven important sections on the pension certificate to explain how you should understand this information and what you can do with it.
If the benefits from pillars 1 and 2 are not enough to maintain your desired standard of living in retirement, you’ll need to save more. Find out how much today.
Rather than a bureaucratic burden, your pension certificate is an opportunity to look for ways to improve your insurance benefits. It’s best to make active use of your pension fund statement: as soon as you receive it, you should read it carefully and check whether you are in an optimal position regarding your occupational pension. If you discover gaps and need to take action, you can do so in good time.
Arrange an appointment for a nonbinding consultation, or if you have any questions, just give us a call.
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