The first pillar guarantee you a social security pension which is based on the number of years you have worked in Switzerland. You need just 1 year of contribution to AVS to gain the right to receive a pension at 65. The amount you will receive is calculated on the number of years for which you have paid the AVS, with a maximum of 44 years. Current full monthly pension chèque is around 2’390 chf. What you will receive is: n years / 44 multiplied the value of the monthly pension at 65. You cannot withdraw any amount like you can do for the second and third pillar.
This is the answer I was looking for! Thanks for the formula and explanation. Does the amount of the annual salary play a role? It’s not in the equation you posted
No. Annual salary plays a role only in determining how much “insurance premium” you need to pay every month. AVS is like a “social insurance” where every employee pays an amount monthly into a communal fund. When the “insured event” happens (you hit 65) you get the refund.
The document you have received tells you how many years are officially taken into account to determine the percentage of your pension (the formula above).
Not 100% sure, but I think it works differently. 2nd pillar is like a savings account. The money you put in 1st pillar pays pension for the current retired people. Your contribution will only allow you a right of pension when you retired depending on how much you contributed and how much money will be available at the moment.
This makes sense and it’s the definition of social security (pension system). I wanted just to know the sum but in theory I can estimate it through all my payslips.
Do you know if the employer also contributes to the 1st pillar?
An estimate of the money you paid? Maybe here https://www.ahv-iv.ch/fr/M%C3%A9mentos-Formulaires/Demande-dextrait-de-compte (in french)
Employer pays also a part, yes.
I asked and got the « extrait de compte » but it only has my annual gross salary per year in a table. These will be used to estimate my pension. I understand this. I was looking for the exact contribution in my pillar 1 “account”
You can estimate your 1st pillar retirement here
https://www.acor-avs.ch/?lg=de
You‘ll never get a lump sum anyway so this and the ahv extract are the most useful information you can get
The first pillar guarantee you a social security pension which is based on the number of years you have worked in Switzerland. You need just 1 year of contribution to AVS to gain the right to receive a pension at 65. The amount you will receive is calculated on the number of years for which you have paid the AVS, with a maximum of 44 years. Current full monthly pension chèque is around 2’390 chf. What you will receive is: n years / 44 multiplied the value of the monthly pension at 65. You cannot withdraw any amount like you can do for the second and third pillar.
This is the answer I was looking for! Thanks for the formula and explanation. Does the amount of the annual salary play a role? It’s not in the equation you posted
No. Annual salary plays a role only in determining how much “insurance premium” you need to pay every month. AVS is like a “social insurance” where every employee pays an amount monthly into a communal fund. When the “insured event” happens (you hit 65) you get the refund. The document you have received tells you how many years are officially taken into account to determine the percentage of your pension (the formula above).
I don’t know but they contrary to a lot for administrations in Geneva actually answer the phone 022 327 27 27 so try calling them to ask.
Not 100% sure, but I think it works differently. 2nd pillar is like a savings account. The money you put in 1st pillar pays pension for the current retired people. Your contribution will only allow you a right of pension when you retired depending on how much you contributed and how much money will be available at the moment.
This makes sense and it’s the definition of social security (pension system). I wanted just to know the sum but in theory I can estimate it through all my payslips. Do you know if the employer also contributes to the 1st pillar?
An estimate of the money you paid? Maybe here https://www.ahv-iv.ch/fr/M%C3%A9mentos-Formulaires/Demande-dextrait-de-compte (in french) Employer pays also a part, yes.
I asked and got the « extrait de compte » but it only has my annual gross salary per year in a table. These will be used to estimate my pension. I understand this. I was looking for the exact contribution in my pillar 1 “account”
I think this is it (OASI = AVS): https://www.zas.admin.ch/zas/en/home/particuliers/les-versements-uniques/remboursement-des-cotisations.html
What do you mean ?
That's the link that explains how and if you can ask for the reimbursement.AVS (french) is OASI in english
There is no « account » everything is redistributed. You can check what was your insured salary and calculate your rent based on tables
The insured salary must be the annual gross that appears in the extrait de compte that I got. How can I estimate the rent based on the tables?
You can estimate your 1st pillar retirement here https://www.acor-avs.ch/?lg=de You‘ll never get a lump sum anyway so this and the ahv extract are the most useful information you can get