What motivated you to supplement the existing pension solution and what advantages did it bring?
Céline Britschgi (CB)/Andrea Simon (AS) The increasing prevalence of part-time working is one of the main changes in the way we live and work. Modified pension solutions that keep pace with the new reality and are also geared towards part-time employees form an important basis for attracting and retaining employees. PensExpert had already adjusted the coordination deduction in line with degree of employment, thus offering our part-time employees better pension prospects. We now insure the entire coordination deduction for all employees subject to BVG contributions through our PensUnit Collective Foundation. In addition, the savings process already begins from the age of 20. Punishing part-time work by applying a coordination deduction no longer makes sense. If you don’t keep up with the times, the employees won’t stay at the company for long.
How have the employees reacted to this strengthening of the pension provision?
CB/AS Very positively. They all work for an innovative pension company and immediately recognised the long-term benefits that result from this. An additional savings contribution on the one hand, but also significantly better insurance cover for them and their families on the other. Quite apart from that, this solution offers further added value in terms of voluntary BVG buy-ins, which are not subject to general redistribution under our PensUnit solution. In addition, all employees have access to myPensPortal, our digital client platform. As a result, everyone gains an even better understanding of our applications – including from the clients’ perspective – and can actively help to develop them further by contributing ideas.
What exactly does such a solution look like and what role do employees play in the pension fund management?
CB/AS Every insured person can choose between two optional plans in our PensUnit solution. The optional plan can be adjusted to suit personal needs each year, with effect from the beginning of the following year. Employees can also participate actively in the election of their employee representatives to the Pension Fund Commission. This gives them an additional level of co-determination, ensuring that our solution appeals to everyone.
To what extent do employees benefit from the comprehensive pension solution in terms of pension benefits and financial advantages?
CB/AS In future, the introduction of this supplementary pension solution will not only mean improved pension benefits or more pension capital for all employees, but also increased financial security in the event of disability or death. The PensUnit pension solution guarantees part-time employees and their dependants in particular reliable financial security for their retirement. For example, anyone who opts for additional savings contributions in optional plan 2 voluntarily saves even more for retirement and reduces their net salary and thus their personal tax burden. This tax saving is then available for other purposes, such as paying into pillar 3a, which has an additional tax effect.
What feedback have employees given so far on this new pension solution?
CB/AS Our employees have responded extremely positively to the expansion of the pension solution with PensUnit. The feedback so far shows that they see this as a valuable additional benefit and do not take it for granted. They particularly appreciate the fact that we are taking responsibility ourselves and not just waiting for political improvements. Our efforts to provide an optimal work-life balance also facilitate our HR work during job interviews. As a pension company, one of the first things we are asked about is obviously our pension solutions. With our unique PensUnit solution, we can offer strong additional arguments that show we are an innovative company.
What is your conclusion?
CB/AS The expansion of the pension solution not only serves to secure our employees’ future, but is also an essential tool for increasing the company’s attractiveness as an employer in light of the changing forms of work and for promoting a modern workplace culture.
This interview was conducted by Corinne Galliker (Communications Manager)
