360°Benefits I Studies
Dear readers,
While the AHV21 reform has been accepted and implemented by most pension foundations, the BVG reform on the other hand has been rejected by the Swiss population. Despite the current system remaining unchanged at the moment, individual pension foundations continue to adapt to meet increasing challenges. Therefore, it is critical to reconsider existing solutions and be open to exploring new paths forward.
As the Swiss population continues to age, pension benefits are becoming an increasingly important topic for both individuals and the foundations that provide these benefits. It is important for them and the company sponsors to regularly benchmark their benefits against industry standards and best practices to stay competitive.
In the current edition of the SLI benchmarking study by WTW, we look at the wider Swiss market trends and issues facing Swiss pension foundations. One of the key issues that pension plans must contend with is to find the right balance between attractiveness, competitiveness and equity while ensuring effective governance of costs and risks. Indeed, a well-designed benefit package strengthens a company’s strategy by retaining employees and attracting top talent. In the Global Benefits Attitudes Survey (GBAS) carried out by WTW, the survey showed that benefits are becoming increasingly important when choosing an employer. Indeed, the results revealed that 42 % of Swiss employees chose their current employers based on their benefits package and almost half (46 %) reported staying with their employers for the same reason. Two-fifths (38 %) said they would leave their employer for better benefits elsewhere and no change in salary. More information on the GBAS can be found on our WTW webpage.
Having these insights in mind, it is important for companies and their pension foundations to offer well designed benefit packages to employees.
Discover more in our study report.
