If you are contemplating living in Switzerland, one of the first moves would be to evaluate options for Swiss jobs. The whole idea behind migrating to a foreign land is to improve upon one's fortunes, in a big way! And, provided you have it in you to floor Swiss recruiters down right and center, there would be no dearth of options on offer.
Apart from choosing from among the best jobs Switzerland that suits you the most, learning more about salary deductions pertaining to important benefits and insurances, would be the key. After all, the relevance of these added benefits could be immense when you work in Switzerland. The most prominent ones have been explained here for you.
Benefits for Retirement
The single highest deduction applicable for all Switzerland jobs salaries would the deduction that is made to provide for retirement benefits. The normal age for retirement is 64 for women and 65 for men. However, opting for early retirement is also a possibility.
The benefits are awarded in three levels:
The First Level : The cryptic names for this level could be AHV or IV-AVS or AI. It represents a full state pension on retirement. The benefits would depend on the average earnings of the individual, every year, at the time when he was employed. The levels could be extremely low and relying on these alone for supporting living costs post retirement, may not be proper.
The Second Level : The second level benefit is called BVG and is basically a pension fund that is funded through contributions made by the accounts of employees. The first and the second level pension cover almost 60% of your yearly pre-retirement pay.
The Third Level : This one is known as the third pillar pension and would be essential for you if you do not want to face a sharp drop in income when you retire. Additional investments need to go into this, for adequate fund creation.
It is important to note that both, the first and the second level benefits would include the coverage against income loss on account of death or permanent disability. In case of the former, the benefits will go to the orphan or the widow.
Accident Insurance
The cryptic abbreviation for accident insurance is "UKG". As the name hints, most of the medical treatment costs are covered in case the staff member suffers an accident. Providing accident insurance is mandatory for all jobs in Switzerland. And this comes as no surprise, considering that an adventure sport like skiing happens to be the prime cause of absenteeism here. If you are still unemployed in Switzerland, consider purchasing it for yourself, especially if you are an adventure sport enthusiast.
Medical Insurance
When you are living and working in Switzerland, it would be of relevance to know that having medical insurance has little to do with your employment status with the social security system at large. It is mandatory to have medical insurance and you will be expected to have it. You can purchase it personally from commercial insurers although some companies may offer comprehensive health plans. However, this could be a rarity.
Having knowledge of these facts can always prove to be of help to you when you plan your finances in a foreign land. Make sure to make informed decisions, each time.
Apart from choosing from among the best jobs Switzerland that suits you the most, learning more about salary deductions pertaining to important benefits and insurances, would be the key. After all, the relevance of these added benefits could be immense when you work in Switzerland. The most prominent ones have been explained here for you.
Benefits for Retirement
The single highest deduction applicable for all Switzerland jobs salaries would the deduction that is made to provide for retirement benefits. The normal age for retirement is 64 for women and 65 for men. However, opting for early retirement is also a possibility.
The benefits are awarded in three levels:
The First Level : The cryptic names for this level could be AHV or IV-AVS or AI. It represents a full state pension on retirement. The benefits would depend on the average earnings of the individual, every year, at the time when he was employed. The levels could be extremely low and relying on these alone for supporting living costs post retirement, may not be proper.
The Second Level : The second level benefit is called BVG and is basically a pension fund that is funded through contributions made by the accounts of employees. The first and the second level pension cover almost 60% of your yearly pre-retirement pay.
The Third Level : This one is known as the third pillar pension and would be essential for you if you do not want to face a sharp drop in income when you retire. Additional investments need to go into this, for adequate fund creation.
It is important to note that both, the first and the second level benefits would include the coverage against income loss on account of death or permanent disability. In case of the former, the benefits will go to the orphan or the widow.
Accident Insurance
The cryptic abbreviation for accident insurance is "UKG". As the name hints, most of the medical treatment costs are covered in case the staff member suffers an accident. Providing accident insurance is mandatory for all jobs in Switzerland. And this comes as no surprise, considering that an adventure sport like skiing happens to be the prime cause of absenteeism here. If you are still unemployed in Switzerland, consider purchasing it for yourself, especially if you are an adventure sport enthusiast.
Medical Insurance
When you are living and working in Switzerland, it would be of relevance to know that having medical insurance has little to do with your employment status with the social security system at large. It is mandatory to have medical insurance and you will be expected to have it. You can purchase it personally from commercial insurers although some companies may offer comprehensive health plans. However, this could be a rarity.
Having knowledge of these facts can always prove to be of help to you when you plan your finances in a foreign land. Make sure to make informed decisions, each time.
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