Occupational provisions are facing major challenges due to the low interest rate environment, increasing life expectancy and the ongoing backlog of reforms. In order to address these realities, Swiss Life is further adjusting conversion rates for full insurance from 2022. This way, Swiss Life is gradually reducing the non-systematic redistribution from active insured persons to pensioners and ensuring that it can deliver on its second pillar value proposition in the long term. Existing pensions will remain unchanged.

As a major provider of occupational pension solutions, Swiss Life ensures that it can provide long-term full insurance, which continues to be in strong demand by SMEs. “The guarantees that we provide through full insurance for Swiss SMEs are of fundamental macroeconomic significance,” says Hans-Jakob Stahel, Head of Corporate Clients. “Swiss Life will be further adjusting the conversion rates for full insurance from 1 January 2022 in line with the prevailing economic, demographic and regulatory framework conditions in order to safeguard its value proposition in the future, taking into account the interests of all insured persons.” The applicable minimum benefits as prescribed by law and in accordance with the BVG will be complied with at all times. Existing pensions will remain unchanged.

Lowering the statutory conversion rate remains imperative and urgent
The long-term stabilisation of occupational provisions has been on the political agenda for some time now. The current Federal Council dispatch on BVG reform envisages a lowering of the statutory minimum conversion rate to six percent – an adjustment which is urgent and imperative. Additional steps are required on the part of providers: an adjustment of conversion rates has become unavoidable for all pension funds as life expectancy is increasing and retirement pensions are therefore having to last for longer. This demographic reality is being exacerbated by the persistently low interest rate environment. Taken in combination, these factors are leading to a steady increase in the non-systematic redistribution from active insured persons to pensioners. By adjusting its conversion rates, Swiss Life is substantially reducing unwanted cross-financing in the future.

Full-range offering in the second pillar remains a strategic cornerstone of Swiss Life
The upholding of a full-range offering in the second pillar with full insurance, semi-autonomous and risk reinsurance solutions, as well as services for pension funds, is and will remain one of the strategic cornerstones of Swiss Life. Hans-Jakob Stahel: “We are committed to making this comprehensive offering accessible to our customers in the future as well. Despite adjusting the conversion rates, we will continue to offer attractive, secure and competitive conditions and retirement benefits by market comparison.”

The conversion rates for full insurance at a glance



The other conversion rates applicable in the case of different retirement ages can be found under the following link: www.swisslife.ch/protect


Media Relations
Phone +41 43 284 77 77


Follow us on Twitter

Further information
All our media releases can be found at swisslife.ch/mediareleases

Swiss Life
The Swiss Life Group is one of Europe's leading comprehensive life and pensions and financial solutions providers. In its core markets of Switzerland, France and Germany, Swiss Life offers individuals and corporations comprehensive and individual advice plus a broad range of own and partner products through its sales force and distribution partners such as brokers and banks.

Swiss Life Select, Tecis, Horbach, Proventus, Fincentrum and Chase de Vere advisors choose suitable products for customers from the market according to the Best Select approach. Swiss Life Asset Managers offers institutional and private investors access to investment and asset management solutions. Swiss Life provides multinational corporations with employee benefits solutions and high net worth individuals with structured life and pensions products.

Swiss Life Holding Ltd, registered in Zurich, was founded in 1857 as Schweizerische Rentenanstalt. The shares of Swiss Life Holding Ltd are listed on the SIX Swiss Exchange (SLHN). The subsidiaries Livit, Corpus Sireo, Beos, Mayfair Capital and Fontavis are also part of the Swiss Life Group. The Group employs a workforce of around 9800 and has at its disposal a distribution network of some 15 800 advisors.

Swiss Life corporate film

Cautionary statement regarding forward-looking information
This publication contains specific forward-looking statements, e.g. statements including terms like “believe”, “assume”, “expect” or similar expressions. Such forward-looking statements, by their nature, are subject to known and unknown risks, uncertainties and other important factors. These may result in a substantial divergence between the actual results, developments and expectations of Swiss Life and those explicitly or implicitly described in these forward-looking statements. Given these uncertainties, the reader is reminded that these statements are merely projections and should not be overvalued. Neither SwissLife nor its Members of the Board of Directors, executive managers, managers, employees or external advisors nor any other person associated with Swiss Life or with any other relationship to the company makes any express or implied representation or warranty as to the correctness or completeness of the information contained in this publication. SwissLife and the abovementioned persons shall not be liable under any circumstances for any direct or indirect loss resulting from the use of this information. Furthermore, Swiss Life undertakes no obligation to publicly update or change any of these forward-looking statements, or to adjust them to reflect new information, future events, developments or similar.