about a year Ago, a Big in the industry caused a Bang in the Swiss pension Fund market: The Axa announced that the full-insurance business of professional Pension plans (BVG) to withdraw. In the future, it is intended to offer only so-called semi-Autonomous solutions.
This means that the company and the Insured bear the investment risk, there are no guarantees as in the case of full insurance. “Axa SMEs in the rain,” wrote LOOK at the time. Because it is precisely small and medium-sized companies – the backbone of our economy – can’t afford to own PK, depend on collective foundations.
a Lot of criticism of the insurance group
Axa had been much criticized, the criticism that it is acting only in the interest of the French shareholders. “It was so strange that insurance has for many years painted the benefits of full insurance coverage, offers this suddenly,” recalls the independent pension funds expert Martin Hubatka (65).
The advantage of full insurance is the safety. The pensions are guaranteed to be 100 percent. The Problem is that This safety is generating at a time of rising life expectancy and low interest rates, more and more difficult. Especially since there are strict investment rules for the insurance companies.
customers to switch providers,
is The tag of the BVG business has cost Axa a lot. The customer went to Axa last year, in droves, of which: 10 percent of companies with 17 percent of the Insured continued to use the full insurance and changed providers, and went primarily to the Swiss Life. The income has plummeted due to the system change to the half.
The Declaration requirements in the case of Axa large. Therefore, the insurer has calculated to have much the better of an Insured performs, if he chooses a semi-Autonomous solution.
The pension increases
These calculations are in VIEW exclusive. Depending on the income model, there are between about 17.1 and 20.1 percent more pension per month. The can make – at 40 years of employment – a couple of Hundred francs a month.
semi-Autonomous solutions for the insurer the advantage that there are fewer regulations on how the money of the Insured applied. “We can also create for small businesses as the big pension funds can do,” explains Axa-pension-in-chief Thomas Gerber (55).
This means that the equity share is higher, the more money flows in real estate. Thus, a higher yield and a better return on the money paid in there. The disadvantage: More return with more risk!
this is justifiable in A SME Patron is faced with a delicate choice: he Wants to be on the safe side, or is he willing himself and his employees more risk is expected, so that the pension age is higher?
But how large the risk actually is? “This risk is certainly acceptable if the company is in a well-run collective Foundation,” explains Hubatka.
one of which is Axa. In an internal stress test, the insurance shows that your current system would be portfolio only during a scenario comparable to the 2008 financial crisis in under-funding. This is allowed for a semi-Autonomous Foundation in the short term.