- Your future pension = projected capital at 65 × conversion rate. Both figures are on the certificate.
- Your fund's rate is often below the legal 6.8%, which only protects the mandatory part.
- The possible buy-in line shows how much more you can pay in, tax deductible.
A typical certificate, decoded
Example: employee born in 1980, gross salary of 85'000 francs, certificate at 1 January 2026. Certificates are in German, French or Italian: the usual term is given in brackets.
| Certificate line | Amount | What it means |
|---|---|---|
| Insured salary (versicherter Lohn, salaire assuré) | CHF 58'540 | Your salary minus the coordination deduction: contributions are based on it |
| Current retirement assets (Altersguthaben, avoir de vieillesse) | CHF 187'340 | Your capital today |
| Projected assets at 65 | CHF 312'800 | Projection, with 2% interest a year |
| Conversion rate (Umwandlungssatz, taux de conversion) | 6.35% | The percentage that turns capital into a pension |
| Projected pension at 65 | CHF 1'655 / month | CHF 312'800 × 6.35% ÷ 12 |
| Disability pension | CHF 19'863 / year | If you become disabled before retirement |
| Spouse's pension (Ehegattenrente, rente de conjoint) | CHF 11'918 / year | Paid for life to your spouse if you die |
| Possible buy-in (möglicher Einkauf, rachat possible) | CHF 34'200 | What you can pay in on top, deductible |
Fictitious example. The layout changes from one fund to another, the headings stay the same.
1. Retirement assets
This is your pension fund capital, fed every month by a deduction from your salary and at least as much from your employer. The certificate gives two versions: today, and projected to 65. The projection is not a promise: it assumes the same employer, the same salary and a hypothetical interest rate until retirement.
Contributions rise with age, from about 7% of the insured salary before 35 to 18% after 55. Many plans contribute more than this minimum: that is the first thing to look for in the pension fund regulations.
The legal minimum contributions, by age
| Age | Legal minimum contribution | On CHF 58'540 insured |
|---|---|---|
| 25 to 34 | 7% | CHF 4'098 / year |
| 35 to 44 | 10% | CHF 5'854 / year |
| 45 to 54 | 15% | CHF 8'781 / year |
| 55 to 65 | 18% | CHF 10'537 / year |
Employee and employer together, the employer paying at least half.
2. Insured salary
It is lower than your gross salary, and that is not a mistake. The law deducts a fixed amount of about 26'000 francs, because AHV already covers the bottom of your income. And at the legal minimum, the salary taken into account is capped: above about 90'000 francs, only your fund, if it is more generous, insures the rest.
At 40'000 francs, the insured salary is only about 13'500 francs: two thirds of the income does not contribute. And below the entry threshold, per employer, no contribution is compulsory, even if several small jobs exceed it together.
3. Conversion rate
This is the figure that decides your pension: annual pension = capital × rate. The legal minimum of 6.8% only applies to the mandatory part of your capital. On the rest, the fund sets its own rate, often around 5%: the median among funds was 5.1% in 2024.
On 300'000 francs of capital, the gap between those two rates means more than 400 francs less pension a month. Details in our article on the conversion rate.
4. Death and disability benefits
These lines protect your family now, not only at retirement.
- Disability: a pension, often close to the projected retirement pension, from 40% incapacity.
- Death: a spouse's pension, often 60% of your pension, and an orphan's pension per child, until 18, or 25 if in education.
If you take your pension fund as a lump sum at retirement, the spouse's pension disappears. It is an often forgotten criterion: compare with the Capital or Pension calculator.
5. Possible buy-in
This is what you can pay into your fund on top, deductible from your taxes. It is the gap between your capital and that of a full career in this plan: years abroad, part-time work, leave, arriving late in Switzerland. Depending on your canton and income, the state often gives you back a quarter to a third of the amount.
Three rules: no lump-sum withdrawal in the 3 years that follow; after a withdrawal for a home, repay it before buying in; and if you arrived from abroad and were never insured in Switzerland, buy-ins are capped at 20% of your insured salary per year for 5 years. The full calculation, with a calculator, is in our article on the buy-in.
Three questions to ask your fund
- "What conversion rate will apply to all my assets at 65?" Not just the 6.8% on the mandatory part.
- "What share of my assets is mandatory, and what share extra-mandatory?" That is what explains your rate.
- "Can you send me the pension fund regulations?" Contributions, risk benefits, buy-in conditions: everything is there. Your employer must provide them.
Going further
Unmarried couple? Register your partner with the fund. Many regulations only pay a pension to a partner who was registered while you were alive, often after several years of living together. Without that step, they may get nothing.
Find forgotten assets. An old job, a vested benefits account from before a stay abroad: the Central Office for Pension Fund Assets searches free of charge for assets in your name.
Check that your bonuses are insured. Some plans only insure the base salary, others the bonuses too. If yours are not, your future pension and risk benefits are lower than your real income suggests.
Simulate with your figuresYour projected capital and your rate, as a pension or a lump sum.
Open the calculatorYour next step
To do, at your own pace:
Path “Planning your retirement” · step 2 of 8
Frequently asked questions
When do I receive my pension certificate?
At least once a year, usually early in the year with figures at 1 January. Many pension funds also have an online portal. When you change jobs, you receive a leaving statement.
Is the projected capital at 65 guaranteed?
No. It is a projection that assumes the same employer, the same salary and a hypothetical interest rate, often 2 to 2.5% a year. Job changes, breaks and actual interest will change it.
My certificate is in German or French. What are the key terms?
Insured salary: versicherter Lohn / salaire assuré. Retirement assets: Altersguthaben / avoir de vieillesse. Conversion rate: Umwandlungssatz / taux de conversion. Possible buy-in: möglicher Einkauf / rachat possible. Spouse's pension: Ehegattenrente / rente de conjoint.
What is the coordination deduction?
A fixed amount, CHF 26'460 in 2026 and CHF 26'880 in 2027, taken off your gross salary to calculate your BVG insured salary. The idea: AHV already covers the bottom of your income. As a result, part of your salary does not contribute to the pension fund.
What should I do if I find an error on my certificate?
Report it in writing to HR and to the pension fund. Common errors: a bonus wrongly counted in the insured salary, a wrong start date, a buy-in not recorded. Keep all your old certificates.
What happens to my pension fund if I leave Switzerland?
To a country outside the EU and EFTA, you can withdraw everything, after a tax at source. To the EU or EFTA, the mandatory part generally stays blocked in a vested benefits account if you are insured there; only the extra-mandatory part can be withdrawn.
Sources: FSIO, 2026 BVG limits (entry threshold CHF 22'680, coordination deduction CHF 26'460, maximum salary CHF 90'720, conversion rate 6.8%) ; BVG / LPP art. 7, 8, 14, 16 and 79b ; BVV 2 / OPP 2, art. 60b ; Swisscanto, 2024 pension fund study ; Central Office for Pension Fund Assets.