News


January 22, 2021

Vested benefits accounts customer service team – only available in the afternoon


While processing your annual account statements, the vested benefits accounts (FZK) customer service team is available as follows:

Availability by phone: From 25 January to 5 March 2021, the FZK customer service team is only available in the afternoon between 1.30 and 4.30 p.m. on +41 44 468 21 21.

Transfers: To transfer your vested benefits to a pension fund or vested benefits foundation, please use the online form.

Changes to personal details: By online form you can also notify us of your new address, name or marital status.

Other requests: Please submit any other requests in writing by post: Stiftung Auffangeinrichtung BVG, Freizügigkeitskonten, Postfach, CH-8050 Zurich.

Thank you for your understanding.

January 14, 2021

Advice and information by phone and on website


Dear customers

Your health and ours are important to us. Owing to the stricter measures introduced by the Federal Council to tackle the Corona virus, we are therefore closing our customer reception desks. Our employees will be happy to advise you by telephone from their home office.

Many answers can already be found on our customer website, and our web forms will help you to address your concerns:

You can also contact us in writing, you will find our address under this Link.

Or you can reach us by telephone under the following numbers:

  • Zurich 041 799 75 75
  • Lausanne 021 340 63 33
  • Bellinzona 091 610 24 24

Many thanks for your active participation and for your understanding.

December 29, 2020

Clarification regarding continuation of insurance with the Substitute Occupational Benefit Institution


Due to contradictory and partly incorrect information circulating about various pension plans of the Substitute Occupational Benefit Institution the Foundation has decided to provide some clarification on this matter. It should be noted in particular that the W20 plans introduced by the Foundation on 1 January 2020 aim to reduce the increasingly high conversion losses at the expense of active insured persons. This measure was urgently needed to combat the misuse of the obligation to contract with the Substitute Occupational Benefit Institution.

The Foundation under private law, which is supported by the employees' and employers' associations, is a non-profit organisation and safety net for occupational benefits. On behalf of the Swiss Government, it insures all employers and individuals requesting affiliation with the mandatory occupational benefits scheme (BVG) and has the legal mandate to offer other voluntary special plans. Notably, it is the only occupational benefits institution that provides vested benefits accounts (FZK) and insures all unemployed persons against the risks of death and disability (ALV). BVG, FZK, ALV business areas and Reinstatement control (WAK) maintain separate accounts.

W20 plans as voluntary BVG insurance for individuals

The W20 plans ((verlinken Übersichtsdokument)) relate to the BVG area. They build on the W-plans that existed up until the end of 2019 and ensure maintain of retirement provision.  The change essentially relates to the switch to an enveloping conversion rate in a special plan. The relatively high conversion rate of 6.8 percent for mandatory part and 5.0 percent for extra-mandatory part has been reduced to 4.2 percent (enveloping).).

The Foundation felt compelled to take this measure as insured persons with high earnings often switched to the substitute Pension Fund shortly before starting their pension to benefit from the high conversion rates without having made a sufficient amount of contributions. The original idea and legal mandate for W-plans for individuals has therefore been undermined. The Foundation felt compelled to make these adjustments to the W-plans to prevent misuse and ultimately generational injustice at the expense of the active insured. These plans are based on Art. 60 (2c) in conjunction with Art. 47 BVG and coordinated with the Occupational Pension Supervisory Commission (OPSC) as the supervisory authority for the Substitute Occupational Benefit Institution.

Improved position of insured persons through Art. 47a BVG and Covid-19 Act

In this context the new Art. 47a BVG should also be noted:: from 1 January 2021 an insured person who leaves the mandatory insurance scheme after reaching the age of 58 because the employment relationship has been terminated by the employer can continue the insurance  in the current amount with their previous occupational benefits institution. Based on the Covid-19 Act, insured persons after reaching the age of 58 can also apply for this insurance to be continued if they leave mandatory insurance after 31 July 2020 because the employer has terminated the employment relationship.  . Since the Substitute Institution d only insures the statutory minimum benefits, many insured persons benefit more by retiring with their previous pension fund.

Zero-interest account in the FZK business area

The zero-interest account with the Federal Treasury, which the substitute Pension Fund has been granted access to for a limited period of time and under strict conditions as of 1 October 2020, applies only to the FZK business area. The Substitute Occupational Institution is also subject here to a contracting obligation and manages 1.2 million vested benefits accounts with CHF 15.5 billion in assets. There have been strong inflows of funds into the FZK area of the Substitute Occupational Institution since interest rates turned negative. It is currently not possible to invest funds securely and provide the capital guarantee required by law. The Substitute Institution has not yet had to make use of the zero interest account.

December 4, 2020

Lukas Müller-Brunner to be new Board of Trustees Chairman


Dr Lukas Müller-Brunner is taking over from Martin Kaiser as representative of the Employers’ Association and as Chairman of the Board of Trustees of the Substitute Occupational Benefit Institution LOB from 1st January 2021. The Board of Trustees voted unanimously for election of the Chairman at its meeting today.

Müller-Brunner acquired professional experience at, among other places, Lantal Textiles, in the Auditing department of KPMG, as Research Associate at the Institute of Accounting, Controlling and Auditing at the University of St. Gallen (HSG) and as Employee Benefits Adviser at Swisscanto/Prevanto. On 1st April 2020, he joined the Swiss Employers’ Association (SAV) as Head of the Social Policy and Social Security Insurance department and, in this role, took over from Martin Kaiser, who left the Employers’ Association at the end of March. Prior to that, Lukas Müller-Brunner was Assistant Professor of Management & Regulation at the HSG.

The Board of Trustees and the Management should like to thank Martin Kaiser for his many years of dedicated and successful work in the Substitute Occupational Benefit Institution and looks forward to working together with Lukas Müller-Brunner in the future.

November 20, 2020

Voluntary continuation of insurance following dismissal


As from 1st January 2021, people whose employment has been terminated by their employer can continue their insurance with the Substitute Occupational Benefit Institution voluntarily. The precondition for this is that they were insured in the Workplace (Employee) Pension Plan and are at least 58 years old. 

As part of the Supplementary Benefits Reform, under the new Art. 47a LOB, employees will, on certain conditions, be able to continue insuring themselves voluntarily with the Substitute Occupational Benefit Institution. Either the whole pension provision (new ANWG pension plan) or the risk insurance (new ANWR pension plan) can be continued.

The conditions for this are as follows: 

  • The person was previously insured in the Workplace (Employee) Pension Plan of the Substitute Occupational Benefit Institution.
  • Their employment relationship was dissolved by the employer giving notice or by the conclusion of a mutual termination agreement.
  • Their employment relationship was dissolved on 31st July 2020 or later.
  • The person is at least 58 years old when their employment relationship ends.

November 6, 2020

Lausanne reception closed – Bellinzona open three days


Dear customers

Owing to the measures against COVID-19 decided on by the Canton of Vaud, Reception in Lausanne has been closed with immediate effect. The reception offices in Zurich and Bellinzona are still open, with Bellinzona now having reduced opening hours:

  • Lausanne: closed
  • Bellinzona: Monday / Wednesday / Friday 9.00 till 11.30 h / 14.00 till 16.00 h
  • Zurich: Monday to Friday 8.30 till 11.30 h / 13.30 till 16.30 h

Whenever possible, particularly for more complex questions, it is advisable to arrange an appointment in advance by calling us on one of the following telephone numbers:

  • Zürich:        041 799 75 75
  • Lausanne:  021 340 63 33
  • Bellinzona: 091 610 24 24

Many thanks for your understanding.

September 3, 2020

Reopening of our reception offices


Dear customers
As from Monday 7th September 2020, we are able to receive you in person again at our reception offices in Zürich, Lausanne and Bellinzona.
The opening hours are as follows:

Zürich:                                           08.30 – 11.30 h / 13.30 – 16.30 h
Lausanne and Bellinzona:             08.00 – 12.00 h / 13.30 – 17.00 h

Please note that it may be necessary to wait as, due to the protective measures we have put in place against COVID-19, we can receive only one person at a time (with no more than one accompanying person). Whenever possible, particularly for more complex questions, it is advisable to arrange an appointment in advance by calling us on one of the following telephone numbers:

  • Zürich:                041 799 75 75
  • Lausanne:           021 340 63 33
  • Bellinzona:          091 610 24 24

Our staff are also still available to help you by phone on these telephone numbers.
If you have any cold or flu symptoms and/or have recently returned from a higher risk region, please do not come to our reception offices.
Many thanks in advance for your active cooperation.

June 23, 2020

Amendment of Cost Regulations as of 2021


The Substitute Occ upational Benefit Institution amends the contributions for administration costs as of January 1, 2021:

  • The proportional contribution for administration costs, which is levied on the insured salary, increases from 1.4% to 1.5%.
  • As of January 1, 2021, the revised Cost Regulations 2021 shall apply as regards the extraordinary administrative costs and fees.

May 29, 2020

Advice and information by phone and web


Dear customers
Your and our health is important to us, which is why our customer reception desks remain closed. Our employees will be happy to advise you by telephone.

Many answers can already be found on our customer website, and our web forms will help you to address your concerns: 

You can also contact us in writing, you will find our address under this Link

Or you can reach us by telephone under the following numbers: 

  • Zurich           041 799 75 75
  • Lausanne      021 340 63 33
  • Bellinzona     091 610 24 24

Many thanks for your active participation and for your understanding.

May 20, 2020

Postal delivery restricted


Dear customers

Postal traffic with many countries is currently restricted due to the coronavirus. You can find more information on the Swiss Post website.

Thank you for your understanding.

January 22, 2020

Interest rate adjustments for 2020


The Substitute Occupational Benefit Institution has revised various interest rates downwards as of 1 January 2020. 

Adjustments to interest

  • Interest on vested benefits has reduced from 0.1 to 0.01 per cent.
  • Interest on supplementary retirement assets has reduced from 1.0 to 0.1 per cent.
  • Interest on additional account assets has reduced from 0.1 to 0.01 per cent.

Adjustment of pensions for change in prices

  • Retirement provisions (Occupational Pension Act LOB provision) are not adjusted for change in prices.
  • Survivors’ and invalidity pensions are adjusted for change in prices in accordance with the law (Medienmitteilung BSV vom 22. Oktober 2019).

January 6, 2020

Delays in vested benefits accounts


Dear customers

For some time now, we have recorded a large growth in our vested benefits accounts, and, as a result, an even greater increase in customer inquiries. Our team is working on additional assignements to answer all inquiries as quickly as possible. Nevertheless, the processing of your case may be delayed. 

We ask for your patience and understanding.

November 25, 2019

Working for the Substitute Occupational Benefit Institution!


Are you looking for a new job? Here you will find our current job offers.