Declaration of beneficiaries for single persons Opportunities for single persons to name beneficiaries

Employee Archives - Asga Pensionskasse

A co-operative out of conviction

Posted on January 19, 2022January 23, 2022 by Johanna Gutgsell

"Together we are Asga. Your interests are our interests."

In our case it’s the members of the co-operative that decide. Anyone insured with Asga is automatically a member of our co-operative. Members are represented on the Delegates’ Assembly – the supreme governing body. Employees as well as members of the Board of Directors and the Executive Board are insured with Asga and personally committed to it. This ensures that actions are taken exclusively for the benefit of the members.

"All in this together."

All members have equal status at a co-operative occupational benefits institution like Asga. This also applies to participation; employers and employees are represented on the Delegates’ Assembly on an equal basis and everyone therefore has the same voting rights.

"A pension fund for businesses and SMEs. Efficient and highly personal."

When Asga was established nearly 60 years ago, securing the funding of retirement benefits on behalf of businesses in Eastern Switzerland was the co-operative’s objective. Today, businesses and SMEs throughout German-speaking Switzerland trust us with their retirement assets. With 130 employees, we too are an SME and are familiar with your needs in relation to pension provision.

"Every single Swiss franc remains within the system."

Asga is a co-operative. That makes a difference in financial terms, too, as our entire income is used to benefit the members. Whether it’s reserves for securing pensions in the long term,
or actuarial measures to ensure sustainable financial equilibrium. And if there’s any income left over, surpluses are paid directly to the insureds.

"Highly personalised in future too."

A handful of members present when our co-operative was founded supported the idea of creating their own independent pension scheme. Back then, they probably knew each other personally. Even today, when we now have over 14,000 member firms, personal ties are the basis on which we work. Our insureds trust us with their retirement assets. We are conscious of our responsibility on a daily basis. Managing, investing and growing money is a mental exercise, while the positive feeling you get when you provide for the future in a safe and proper manner comes from the heart. Retirement provision is an extremely personal matter.

"Customer proximity comes from the heart."

With our regional anchoring and co-operative spirit, we see ourselves as one big family. And, as with every family, every member is different and has different needs and aspirations. Personalised advice is therefore extremely important to us. That’s how we deliver retirement solutions geared towards the needs of the members. Proximity is a matter of understanding – not merely a question of region.

"Good management shouldn't cost much."

Asga was founded in 1962 to secure the occupational benefits of its members through collective self-help. The belief was that an independent co-operative would be able to look after the benefits of members in a more targeted way as well as manage the money more safely, efficiently and transparently. Saving costs on behalf of our members is part of our DNA.

"Frugal management."

Asga aims to grow its members’ money, as well as invest and manage it securely. There are only two ways of doing this: a) invest better and b) spend less. At Asga, therefore, our work processes are efficient and not just for the sake of it. We are constantly optimising our internal processes and work in a highly focused manner. It’s an approach that pays off for our members: In terms of efficiency, Asga has been one of the leaders in the sector for a number of years.

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What to consider in terms of beneficiary arrangements

Posted on January 19, 2022January 23, 2022 by Johanna Gutgsell

What happens to your pension capital if you die? A beneficiary's declaration lets you decide.

The death of a loved one is a profound experience that can turn your life upside down. So that at least the financial consequences remain manageable, spouses, registered partners and designated cohabiting partners are entitled to a partner’s pension. Depending on the pension plan, a lump-sum payment on death can be insured in addition to the partner’s pension. And voluntary purchases are usually treated as an additional lump-sum death benefit. How do you find out if you have additional insured lump-sum death benefits? Take a look at your insurance certificate – you’ll find the amounts under “Lump-sum payment on death” and “Additional lump-sum death benefit”.

Partners can be nominated as beneficiaries under occupational benefits insurance through a simplified process. We have to be notified of the names of the beneficiaries during the insured’s lifetime. We recommend that persons living in a cohabiting partnership as well as anyone who has made provisions for an insured lump-sum payment on death or for an additional lump-sum death benefit should think about beneficiary arrangements.

What do I have to do?

Who is to receive the additionally insured lump-sum death benefits, and in what percentages, can be stipulated in a beneficiary’s declaration. In order to make beneficiary arrangements more flexible, you now have the option of apportioning the lump-sum death benefit percentage-wise to a specific group of persons independently of an existing partnership:

Group a: spouse/registered partner and children entitled to orphans’ pensions
Group b: companion in life (cohabiting partner) or the person responsible for the maintenance of joint children
Group c: other children
Group d: parents
Group e: siblings

Group a may now be combined with or ranked lower than other groups, and the lump-sum death benefit can be divided up proportionally within a group as you wish.

And how does that concern me?

At all events, it makes sense for cohabiting partners to think about beneficiary arrangements. That being said, married couples or registered partners should take note of important changes under the new rules: The spouse, registered partner or designated cohabiting partner is no longer automatically the sole beneficiary of the lump-sum death benefit. Without a beneficiary’s declaration, it will be divided proportionally between said partner and any children entitled to orphans’ pensions.

So when should I complete a (new) beneficiary’s declaration?

A beneficiary’s declaration form needs to be completed if you wish to diverge from the new standard, i.e. you do not want equal shares to be apportioned to your spouse and any children entitled to orphans’ pensions. If, for instance, your spouse is to receive the full lump-sum death benefit despite the presence of children entitled to orphans’ pensions, a beneficiary’ s declaration is required. The same applies if children entitled to orphans’ pensions as well as those with no pension entitlement (e.g. if they are older than 25 or in gainful employment) are to be factored in. This is naturally also the case if you have been living in a domestic/cohabiting partnership with your life partner for more than five years and the latter is to receive your full lump-sum death benefit. These examples are not exhaustive – Asga’s new policy is intended to take better account of more complex family and relationship structures.

Seize the opportunity to determine the proportional allocation yourself by completing a beneficiary’s declaration. We therefore recommend you review your personal situation even if you are married, living in a registered partnership or have already submitted a beneficiary’s declaration. Let us know how you envisage your beneficiary arrangements. We have put together further information for you here.

married persons and persons in a registered partnership

single persons

persons with a cohabiting parting