In addition, a University of Oxford survey, commissioned by Zurich, also showed this (see box). Six in ten Swiss employees are prepared to take a reduced salary in return for good social benefits.
Income security in an emergency
Since they are not salaried employees, they do not receive any benefits from the pension fund in the event of a lengthy illness. If they become disabled, they are dependent on minimum benefits from the first pillar.
BVG minimum – salary can be reduced by half
Anyone who becomes ill and can no longer work may in some circumstances receive just 50 percent of their salary.
Employers can influence benefits
With good social benefits, companies can attract good talent and retain employees in the long term.
What about your social benefits?
Nowadays there are so many lifestyles and working models that it is difficult to keep track. Even in the traditional scenario – married, children, father goes to work and mother stays at home – the topic of pension provision is complex. This is why it is hardly surprising that the self-employed, couples without a marriage certificate, part-time employees and people in education no longer understand their pension situation. Many bury their heads in the sand, saying things like: "I just assume nothing will happen to me."
Unfortunately, this wish will not come true for everyone. Humans are vulnerable. Mentally and physically. We want you to recognize and be aware of your financial risks and how you can influence them. For this reason, we have summarized the most important information about pension provision for you in an eBook. Zurich hopes that you enjoy reading it.
"Closing the Income Protection Gap" – a report by the University of Oxford
The "Closing the Income Protection Gap" report primarily focuses on prevention and recommends that employers encourage employees to adopt a healthy lifestyle, for example with fitness rooms. It advises offering coaching for employees with mental problems.
In addition, the study indicates that illness-related disability can have serious financial consequences, for children, students and housewives in particular. This is because they are not connected to a pension fund and, in the event of disability, rely on minimal benefits from the first pillar.