The Substitute Occupational Benefit Institution is set to grant additional interest on retirement savings capital in the area of pension provision for 2023 under BVG/LPP. Moreover, interest rates have been set from 1 January 2024. Pensions will be adjusted for inflation in accordance with the law.
Payment of interest in 2023
The interest on vested benefit accounts has been increased from 0.01% to 0.30% over the course of the year.
In the area of BVG/LPP provision, interest rates are being increased as follows:
Additional interest of 0.50% will be granted on mandatory retirement savings capital in 2023. The total interest will thus increase to 1.50%. The minimum interest rate set by the Federal Council here is 1.00%.
Additional interest of 1.40% will be granted on extra-mandatory retirement savings capital for 2023. The total interest will thus increase to 1.50%.
Additional interest of 0.39% will be granted on the additional account balance for 2023. The total interest will thus increase to 0.40%.
The additional interest is granted if the person is actively insured on 31 December 2023 or if a benefit case occurs on this date.
Payment of interest in 2024
The interest on vested benefit accounts will be 0.40%.
In the area of BVG/LPP provision, the following interest rates shall apply:
The interest on mandatory retirement savings capital will be 1.25%.
The interest on extra-mandatory retirement savings capital will be 1.25%.
The interest on additional account balances will be 0.40%.
Adjustment of pensions for inflation
Retirement pensions (Occupational Pensions Act BVG/LPP provision) will not be adjusted for inflation.
