The Swiss Federal Social Insurance Office (FSIO) has published its occupational pension reference figures for 2026.

➔ Learn more (french)

AVENA’s “2026 key occupational pension figures” card is now available for you to download.
 

The end of the year is approaching, and with it the opportunity to buy back years of contributions in order to improve your pension plan and limit your tax burden.

A never-ending story? A blessing or a curse? Questions about retirement were the main focus of AVENA’s now-traditional Biennial Conference, which was held on 9 September 2025 at the Olympic Museum in Lausanne and drew over one hundred attendees. The event was moderated by Thierry Vial, editor-in-chief of PME magazine, and featured two guest speakers: Matthieu Leimgruber, professor of history at the University of Zurich, and philosopher Sophie Galabru. The attendees also received an update on the occupational pension landscape in Switzerland, and on AVENA more specifically, from Francis Bouvier, the director of AVENA, and Catherine Vogt, the pension board chair. 

Swiss pension system: an ongoing debate

How should first-pillar (AVS) pensions be funded? How should pension roles and responsibilities be divided between the government, businesses, and individuals? These questions are still being discussed a century after they were first raised, even if the debate actually took shape in the second half of the 20th century. Although many view 1947 – the year of the “AVS victory” – as the biggest milestone in the development of the Swiss pension system, Matthieu Leimgruber sees 1972 as the real turning point, when voters rejected the “Super AVS” proposal and the three-pillar system became entrenched in public discourse.
Will 2025 be another milestone for the Swiss pension system? It’s too soon to say, although Mr. Leimgruber pointed to the growing political debate surrounding the third pillar as a key development last year. Looking forward – an unusual exercise for a historian – he expressed confidence that, while retirement pensions would never go away in Switzerland, the system itself would keep evolving. “The boundaries between the three pillars and the roles each one should play will continue to be disputed,” he predicted, while acknowledging that the first pillar was the strongest in terms of popular buy-in.

Building a meaningful life after retirement

From a lifelong career to life on your terms: for philosopher Sophie Galabru, the transition to retirement can trigger an identity crisis as people leave their career behind and have to reconstruct their sense of self. It’s an abrupt shift, and it marks the start of a phase of life that has gotten longer over the years – which is why we need to proactively plan it out. For Ms. Galabru, this involves redefining our role in society, embracing aging by adopting a more holistic view of time and believing that our best days aren’t necessarily behind us, staying busy, and pursuing meaningful social relationships. 

Ms. Galabru emphasized that a long retirement can bring unexpected opportunities, and reminded attendees that retirees can have big plans, too. She also stressed the importance of passing on what we consider essential, in order to give the next generation a leg up.

A growing pension fund

The question of timeframes also comes into play in the day-to-day management of pension funds. Francis Bouvier noted that while pension funds operate on a generational timeline and are rarely faced with urgent crises, that doesn’t mean they can tread water. AVENA, for its part, is moving forward: membership in the Fund has more than doubled in the past decade. For Catherine Vogt, the most pressing issue for occupational pension funds is the need to communicate better. She argued that pension funds should act urgently to address the second pillar’s poor public image and must fulfill their responsibility to keep all stakeholders informed of important developments.

AVENA has been taking action on this front for several years now. The Fund organizes evening information sessions for its members to help them understand how the pension system works and how they can get a handle on their own pension situation. AVENA also reaches out to business owners: it has partnered with key players such as PME magazine and the Vaud Chamber of Commerce and Industry (CVCI) to discuss the challenges of occupational pensions for employers. “For any company, occupational pension contributions represent a significant portion of payroll costs. Human resources teams should use these contributions as a way to increase employer attractiveness,” Ms. Vogt said, while emphasizing the need to keep communication clear and simple.

Important updates 

Good communication also involves providing important information to those who need it. Accordingly, Mr. Bouvier presented new options available to AVENA members, such as “decreasing pensions.” This feature is being offered in response to the desire expressed by some members to receive more income when they first retire and have greater financial needs, and less income after 10 years.

Regular pension or lump sum? This question has become more pressing than ever, as increasing numbers of retirees in Switzerland – possibly even a majority, according to some data – are opting to withdraw their retirement benefits as a lump sum. At AVENA, the share of retirees who choose to receive a pension has fallen from 60% in 2020 to 50% in 2024, with the remainder split between the lump sum (39% in 2024) and a mixed solution (11%).

So what should members do? AVENA is about to unveil a “retirement check-up” to help members make informed decisions. This and other resources will soon be available on a completely redesigned website.

The next Biennial Conference will be held in 2027 – the year of AVENA’s 50th anniversary, as Ms. Vogt reminded attendees.

 

If you’re looking to better understand the Swiss pension system, find out more about your occupational pension, or plan your retirement, then our AVENA evening information sessions are for you. 
We’ve put together three free, accessible, and complementary information sessions for AVENA members.

The ABCs of your occupational pension

This video covers all the basics of how occupational pensions work in Switzerland. It answers questions such as:

• How does the Swiss pension system work?
• What information is in my pension statement?
• What is a voluntary contribution?
• Should I opt for a pension or a lump-sum payment?
• What advantages does AVENA offer?

Watch the video here
 

Key steps in retirement planning

Want to learn how you can best prepare for retirement? Our specialists shared valuable tips and advice at our hallmark information session “Key steps in retirement planning.”
The topics covered included:

• Preparing your retirement budget and handling the paperwork
• Evaluating your pension options
• Using your Pillar 3 personal retirement account

? View the presentation here (in French).

Live chat – Occupational pension Q&A evening 

Our live chat evening is an opportunity for AVENA members to ask us anything they want to know about their occupational pension and get answers on the spot. To watch the 2025 Q&A, click on the link below.

? Watch the video.

Previous sessions
View the presentations and events from previous years.
2024 information session
2023 information session
2022 information session

2024 was a good year for AVENA – our financial results brought our funded status up to 109.3%. Our Pension Board, with its newly elected members, began its term last year. And we once again held our evening information sessions to help insured members better understand the occupational pension system.
Have a look at our 2024 Annual Report.

What’s inside:

•    Message from the Chair of the Pension Board
•    The Fund at a glance

Governance
•    The Pension Board
•    Interview with Catherine Vogt

Fund updates
•    Fund members
•    Evening information sessions

Financial information
•    2024 economic overview 
•    Key figures
•    Fund holdings
•    Balance sheet
•    Income statement

Enjoy!
 

>Dominique Blanchard, chair of the Investment Committee

AVENA recently decided to invest some of its assets in sustainability-themed investments. Why this change in investment strategy?

I wouldn’t say it’s a change – it’s more that our strategy has evolved. Over the past few years, we’ve been taking steps towards something that we consider to be a long-term shift rather than a fleeting fad. In 2022, for instance, we commissioned an assessment of our portfolio based on environmental, social and governance (ESG) criteria as part of our approach to socially responsible investing. We were awarded an A– rating on the basis of that assessment. And with our recent decision to add sustainability-themed investments, we are going one step further and taking a more active approach to how we manage part of our portfolio. 

How did you decide how much to allocate to these investments?

The decision will affect just 3–4% of our assets under management. Our aim is to play an active role in the transition towards a more responsible and sustainable economy, while also fulfilling our duty to manage our members’ retirement savings responsibly over the long term.

Which approach will you take for these investments?

With our ESG strategy, which we developed together with BCV, our main asset manager, we have so far prioritized approaches that seek to mitigate any adverse impacts of our investments. These include approaches such as negative screening, which involves excluding investments in companies or themes deemed incompatible with certain norms or values, such as coal or pornography, and reducing the portfolio’s exposure to fossil fuels. By introducing thematic investments, we are looking to increase our positive impact. We will do this investing in companies that offer solutions that contribute to achieving the United Nations Sustainable Development Goals. This could include companies operating in areas such as renewable energy, energy efficiency, education, and poverty reduction.

Does this move affect the Fund’s overall portfolio management strategy in any way?

Our portfolio management strategy is guided by a long-term vision and a quest for stability, which helps to ensure we don’t get sidetracked by fleeting trends or fads. By allocating some of our assets to sustainability-themed investments, we aren’t changing that strategy – we’re simply moving forward with it. 

What does this mean for the Fund’s members?

With this move, our aim is to diversify our investments in order to manage risks. Diversifying in this way also helps us to make our portfolio more resilient in today’s complex environment, which we will continue to analyze. Going forward, any decision we make will be based – as it always has been – on a holistic analysis of how best to allocate our assets. Here, our aim is to deliver the returns needed to manage our Fund effectively and to ensure our members enjoy a top-notch retirement.
 

Understanding your pension certificate

What’s a pension certificate?

A pension certificate is an overview of your personal pension coverage. It includes: 

• your member information
• your salary information
• your and your employer’s contributions
• your insured benefits
• your pension savings
• your retirement benefits
• general information (withdrawal amount available to buy a home, maximum possible voluntary contribution, etc.)
  
   

Where can I get my certificate? 

Directly from your Occupational Pension Cockpit. 

In addition to getting your certificate there, you can view your member information, carry out simulations (voluntary contributions, retirement, etc.) and contact your pension fund manager directly.
If you would like further information, please do not hesitate to contact us using the form below.
 

Find out more:

Information bulletin (FR):
Télécharger la notice au format pdf

Article (FR): 
Comment décoder son certificat de prévoyance | PME

Videos (FR) :
Comment lire son certificat de prévoyance? Vidéo du 16 mars 2022
Comment lire son certificat de prévoyance? Vidéo du 19 avril 2023

Link to FAQ: 
FAQ | Avena Fondation BCV 2e pilier

2024 financial results

At end-2024, AVENA’s funded status was 109.1% (unaudited) and its net return was 7.92%.

The Fund’s total assets stood at CHF 2.9bn.

AVENA’s Pension Board has decided to pay an interest rate of 3.25% on all savings capital for 2024. That’s the maximum percentage permitted by law, and it brings our funded status to an estimated 109.4%.

This level of remuneration is significantly higher than the legal minimum (1.25%), and our insured members will see the boost in their retirement savings.

The annual interest paid by the Fund is just the tip of the iceberg – it’s the most visible result of a series of measures underpinning AVENA’s ongoing solidity.

The Pension Board is unanimous in its belief that this strategy will produce better long-term results while safeguarding the Fund’s future.

The Swiss Federal Social Insurance Office (FSIO) has published its occupational pension reference figures for 2025.
These figures are shown in the table below.

➔ Learn more (french)

AVENA’s “2025 key occupational pension figures” card is now available.
You can order this card, which comes in credit-card format, using the form below.
In the message line, please write “order for AVENA card” and put the delivery address and quantity desired.

info@lpp-avena.ch