Swiss Life reduces converson rates as of 01.01.2022

General information 20.12.2021

The low-interest environment continues to put pressure on pensions in occupational benefits plans. In addition, the pension funds are being criticised due to retirement losses. The life expectancy risk is currently causing costs that will be transferred to the next generations. Swiss Life is reducing the conversion rates in the full insurance over the coming years in order to combat this problem. Pensions that are already running are not affected by this.

  • As of 1 January 2022, the conversion rate for the obligatory part of the retirement assets for women (age 64) and for men (age 65) will decline from currently 6.8 per cent to 6.5 per cent and from 2023 onwards be 6.2 per cent.
  • In the supplementary part of the retirement assets, the conversion rate for women will be reduced from 5.00 to 4.76 or 4.54 per cent from 2023. For men, the interest rates will fall from 4.95 per cent to 4.71 or 4.49 per cent from 2023. The Occupational Benefits Plans Pension Foundation Physioswiss is not affected by the reduction in the conversion rate for the obligatory part of the retirement assets.


The status quo applies until the end of the current contract until 31.12.2023. This means that the conversion rate of 6.80 per cent applies until the end of 2023. The reductions in the supplementary conversion rate mentioned above apply from 1.1.2022.

The relevant minimum payments stipulated by law pursuant to the Occupational Benefits Plan Act are complied with at all times. Swiss Life confirms that the full insurance is in strong demand from SMEs and is to be continued to be offered in the future. A long-term stabilisation of occupational benefits plans has been on the political agenda for a long time. An adaptation of the conversion rate to 6 per cent, as is envisaged in the current notification from the Federal Council on the reform of the Occupational Benefits Plans Act, is urgently recommended due to the demographic development and the low interest environment.

Adrian Wernli

Managing Director Occupational Benefits Plans Pension Foundation physioswiss