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objective reasons for a YES to lower the conversion rate

The conversion rate in 1985 was the introduction of BVGs 7.2%. Die Höhe dieses Satzes wird durch die Lebenserwartung und die zu erzielende Kapitalmarktrendite bestimmt. 1985 lag die Lebenserwartung im Alter von 65 Jahren bei Männern bei 16.3 Jahren und bei Frauen bei 20.8 Jahren. Seither hat sich die Lebenserwartung signifikant verändert (Männer: +23%; Frauen: +13%). Gleichzeitig ist die Rendite zehnjähriger Bundesanleihen bedeutend gesunken. In der Periode von 1985 bis 1994 betrug die Durchschnittsrendite 5.1%, in der Periode von 1999 bis 2008 lediglich 2.9%. Zum Vergleich: der Pictet BVG-25-Index zeigt in den letzten zehn Jahren eine Rendite von rund 2.5%. Experten schätzen eine langfristige Renditeerwartung für Pensionskassen zwischen 3.5% und 4.5% pro Jahr als realistisch ein. The opponents regard the increased life expectancy and lower future returns expected to be insufficient for reducing the conversion rate. It is however important to note that the reduction does not affect the level of pension payment. Make use of the retired one (partial) lump sum, so they are free to invest the capital to the unrealisitsch high returns. By masking the increased life expectancy, capital would indeed be enough anyway.

is not reduced, the conversion rate, there is an increased potential risk that pension funds get into deficits. This would be to clean up the hump of workers and employers - that is those which finance the already inflated pensions. To avoid the shortfall, the fund will seek higher returns on funds invested to generate, which is possible only through the acceptance of higher risks. Spicy is that it is the enemy struck critics as more risky investment strategies. Ultimately, it is assumed that some insurers due to the increased risks in the business retreat, which would primarily change the provision of occupational pensions works for SMEs (now about 156,000 SMEs, to regulate occupational pension plans in this form) significantly.

addition to the reduction in the conversion rate, further reform efforts in attack . Take They should also be initiated measures aimed at efficiency. Further optimization potential I see in a future-directed adaptation of the investment regulations. The increased investment of funds in alternative investments can be skimmed off additional return potential. This would also make a contribution to economic development in Switzerland, which would be in the current situation will most likely be.