Personalized retirement pensions
Pensions calculation as a matter of principle
In principle, old-age pensions are calculated as follows – pension assets gained up to the date of retirement are multiplied by the pension conversion rate corresponding to the effective age of retirement. The current valid pension conversion rate is defined in the IntegralStiftung’s Pension Regulations.
Beyond the age of retirement
Should you wish to continue to work beyond the standard age of retirement, please agree a corresponding binding contract with your employer and notify the IntegralStiftung accordingly.
Pension following early retirement
In line with the BVG, our Pension Regulations envisage early retirement as only being possible from the age of 58 at the earliest. Should you have reached this age, and under the condition that you now definitely want to stop working, then you are entitled to claim a life-long old age pension from the IntegralStiftung.
Insured persons who have taken early retirement and are not yet receiving an AHV old age pension can also apply to the IntegralStiftung for an AHV bridging pension. This pension is paid to the extent specified in the pension plan and financed by the employer and/or the insured person prior to taking retirement.
You can also “buy out” the shortfall between an old-age pension paid following early retirement and the one paid on reaching the standard retirement age.
What does buying out mean
Buying out means making up a gap by paying in a contribution equivalent to the shortfall (either by the employer or the employee). To find out whether and to what extent buying out would be permitted please contact the IntegralStiftung. The maximum possible sum for a buy-out depends on the desired age of retirement.
The maximum pension benefits payable on retirement to anyone who makes such a buy-out but subsequently continues to work are equivalent to 105% of the old-age benefits which would be paid out if the individual took standard retirement. If, as a result of the buy-out, pension assets exceed 105%, then the IntegralStiftung is obliged by law to retain the excess sum.
If you wish to work beyond the standard age of retirement; have agreed with your employer that you will continue to work either full- or part-time and you do not assert your claim to either a full or partial old-age pension upon reaching standard retirement age, then you can continue to make pension contributions to the extent envisaged by your pension plan,.
Should you reduce your working hours after passing the standard age of retirement, then you will be obliged to take corresponding partial retirement.
The old-age pension paid in the case of deferred retirement is calculated as follows – pension assets gained up to the date of deferred retirement are multiplied by the pension conversion rate corresponding to the effective age of retirement, as defined in the IntegralStiftung’s Pension Regulations.
Pensions for the children of retirees
If you receive an old-age pension, then each child who would be entitled to claim an orphan’s pension if you died is entitled to claim a retiree’s children’s pension from the IntegralStiftung. Payment of this children’s pension begins when you start to claim your old-age pension and ends when the child reaches the age of 18 or, if they are in training, the age of 25. The children’s pension for retirees’ children is equivalent to 20% of the old-age pension. Should the old-age pension stop because the retiree dies, then the children’s pension for retirees’ children will be converted into an orphan’s pension insofar as the corresponding requirements are met.