The Federal Council plans to limit the payments from the occupational pension scheme. Today, retirement savings can be pre-withdrawn if they are used to buy a home. Similarly, it is possible to withdraw the savings capital for the establishment of a self-employed activity. In the future, only extra-mandatory savings capital should be available for withdrawal.
The announcement made its way through all the media this week, causing outrage in many quarters.
Particularly among homeowners' stakeholders. The purchase of one's own home would be made massively more difficult. It is in many cases no longer possible for young families without the possibility of withdrawals from the BVG – although I wonder whether the reasoning is correct? Young workers tend to have low entry-level wages. In addition, the premium for the occupational pension plan is made up of a risk and a savings component. The savings part increases with age. Young adults therefore usually do not have high BVG savings capital at all that they could draw on. Therefore, the restriction of the subscription, should it actually come, affects more middle-aged and advanced home buyers.
Withdrawal of BVG savings capital to build up self-employment
The Federal Council argues, among other things, that the early withdrawal of savings capital would lead to an increased need to pay supplementary benefits to AHV.
In the case of early withdrawals to build self-employment, I can understand this. In case of unsuccessful business activity (by far not every start into entrepreneurship is successful!) the savings capital is lost. On the other hand, those who lose their jobs at age 50 are often faced with the choice of drawing unemployment benefits or attempting to become self-employed entrepreneurs in their advanced old age. If he chooses the former option, this also costs. From my point of view, in the end it does not matter economically whether the support comes from the unemployment fund at working age or from the AHV at retirement age.
Withdrawal of BVG savings capital for the purchase of a home of one's own
Regarding the reference for home purchase, I would like to throw the following consideration into the discussion.
Rents in Switzerland are high. The rent also includes the return of the landlord. Borrowing interest and maintenance are also incurred on a home, but no one earns additional money on the property. So, in theory, it should be possible for a property owner to save through lower housing costs. This can be done either through the amortization of mortgages, or through "ordinary savings".
If the home is sold before retirement, the released LOB funds must be returned to the pension fund. In contrast to self-employment, there is no risk of losing the money.
It would be interesting to know whether the argumentation of the Federal Council that the early withdrawals lead to increased payments of supplementary benefits to the AHV is statistically proven. Is there really a correlation or are more supplementary benefits just paid out in general?
Mathematically, the matter of supplementary benefits is rather difficult to comprehend.