Short question regarding 2. pillar

Banks, Insurances & Third Pillar
1

So I got my 2. Pillar statement.

It sais:
Vorhandenes Altarsparkapital: X
Vorhandenes Altarsparkapital gemäß BVG: Y

X is more than 2xY.

Is X my 2. Pillar balance?
And if it is, what is Y?

Thanks in advance!

2

Could it be mandatory assets vs extra mandatory?

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3

BVG capital which is subjected to legally regulated conversion rate at time of retirement.

Everything else is called extra mandatory and pension funds can apply their own conversion factor

That’s my understanding

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4

Yes.

Y is Obligatorische part. (Pardon my Denglisch)

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5

Great thanks to you all for the quick clarification!

So just to be sure, the higher number is actual money that is mine right?

6

Yes

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7

Thanks! :blush:

8

Both are, just different rules (eg the mandatory part usually can’t be taken out when moving to eu countries)

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9

The two together make up your total pillar 2 occupational pension benefits.

For the obligatory portion (Y), there is a legally-defined minimum interest rate and minimum conversion rate (the rate that determines the pension you receive in relation to your accumulated benefits). There are also legally-defined rates for disability and survivor’s pensions. And as nabalzbhf, the compulsory part cannot be withdrawn early based on emmigration, if the country you move to is an EU or EFTA country.

For the extra-obligatory portion, your pension fund is free to set its own interest rate, conversion rate, disability and survivor’s pensions, etc. It can also decide whether this portion will be included in your pension or paid out as a lump-sum (or if you can choose between both options). So the terms and conditions of your pension plan are the be all and end all for this portion. It also means that the interest you earn, your pension, etc. are largely a question of which pension fund your employer chooses.

You might find this article I wrote helpful:
https://www.moneyland.ch/en/pension-fund-switzerland-guide

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10

I don’t think that’s true, from what I understand (and how it is stated on my pension fund statements) the amount X in this case is the mandatory + extra mandatory part and Y is the mandatory part.

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11

Exactly. X is the total of obligatory and extra-obligatory benefits (the total pillar 2 occupational pension fund benefits). Y is just the obligatory portion.

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