Insurance certificate

Your insurance certificate contains everything you need to know about employee benefits. It is important to understand the certificate and know how to read it.

Reading and understanding the insurance certificate

Your insurance certificate contains everything you need to know about your employee benefits. It specifies the benefit amounts you and your dependants are likely to receive in old age, in the event of disability and in the event of death. The certificate also shows whether you have any buy-in potential as well as the respective amount.

The benefits depend on the pension solution selected by your employer. Your employer’s pension regulations or pension plan provide further information on the benefits covered by your pension solution.

The insurance certificate contains a number of technical terms. To help you find your way around, we have explained the most important terms here.


1 Groups of persons

Each employee benefits unit consists of one or several groups of persons covered (e.g. employees or executives).

2 Pension fund

GEMINI manages a separate employee benefits unit for each affiliated company. Each employee benefits unit determines its own financing and benefits and draws up its own annual accounts including coverage ratio. The insured benefits and their financing are determined by the Framework Regulations and the pension plan applicable to the persons covered.

3 Company

Your employer

4 Date of joining the employee benefits institution

Date you joined the GEMINI Collective Foundation

5 Reported annual salary

Agreed annual salary subject to AHV (usually gross monthly salary x 12 or 13). HR department informs GEMINI of the amount.

6 Insured annual salary Savings

Reported annual salary less coordination amount pursuant to the pension plan. Determines the calculation of pension credits.

7 Insured annual salary Risk

Calculation basis for risk benefits (insurance benefits in the event of disability and death).

8 Savings contributions

The savings contributions made by the employer and the employee form the basis of the savings capital. The amount of the contributions is governed by the pension plan.

9 Additional contributions

Additional contributions consist of the costs associated with risk insurance, administration, guarantee funds, inflation adjustment and the benefit unit’s restructuring. They do not increase the savings capital.

10 Retirement savings capital

The capital you have accrued as per the calculation date.

11 Special savings capital

The special savings capital consists of the following:

  • the “buy-out for early retirement” account

  • the “buy-out of AHV bridging pension”
    account and

  • the “bonus payment” account relating to bonus contributions defined in the pension plan.

12 Entitlement in case of vested benefits

This amount will be transferred to your new pension fund if you change employer.

13 Interest rate

This interest rate is determined once a year by the pension fund committee of your employer on the basis of the employee benefits unit’s financial situation.

14 LOB retirement savings capital

These assets are consistent with the mandatory portion of your savings capital pursuant to the Federal Law on Occupational Retirement, Survivors’ and Disability Pension Plans (BVG).

15 Vested benefits at age 50

Depending on the situation, the vested benefits at age 50 or at the time of marriage are displayed here if the amount and the date of marriage are known.

16 Conversion rate

Percentage used to convert the savings capital into an annual old-age pension at the time of retirement. The conversion rate is determined by the Foundation Board.

17 Single savings capital

Expected savings capital at retirement extrapolated with interest on the basis of current figures according to the pension plan. Pursuant to the Foundation Board’s resolution, the interest rate used for the extrapolation (projection interest rate) is consistent with the minimum LOB interest rate.

18 Annual retirement pension

The non-recurring savings capital is converted into an old-age pension using the conversion rate, if this is provided for by the pension plan.

19 At retirement age projected with 0% interest

The expected savings capital at retirement age pursuant to the pension plan calculated without interest.

20 Minimum LOB benefits

Statutory minimum benefits pursuant to the LOB.

21 Retired person's children's benefit

Pension recipients are entitled to this benefit for each qualifying child pursuant to the pension plan. The total amount of children’s benefits is limited to 30% of the current retirement pension.

22 Early retirement

Expected benefits extrapolated to the specified retirement ages.

23 Benefits paid in the event of disability (as per LOB)

Statutory minimum benefits pursuant to the BVG.

24 Benefits paid in the event of disability (as per Regulations)

In the case of a 100% disability level, the disability benefits specified in the pension plan are disbursed upon expiry of the defined waiting period (or after the sickness daily allowances have run out).

25 Spouse's/partner's pension

The spouse’s pension is due in the event of the insured person’s death before retirement. If a registered partner is insured in the pension plan, a written specification of beneficiary is expected.

26 Orphan's benefit

In the event of your death, orphan’s benefits will be paid for each qualifying child (under 18 or 20 pursuant to pension plan; under 25 if in full-time education).

27 Specification of beneficiary

Indicates whether you have submitted a specification of beneficiary, e.g. to insure your registered partner after your death.

28 Pledging

When amounts have been pledged, the details of the pledge are shown in your personal certificate.

29 Early withdrawal

If an early withdrawal of savings capital has taken place, the details are shown in your personal certificate.

30 Possible early withdrawal for residential property

This is the maximum amount you can withdraw to acquire or build an owner-occupied home, pay off a mortgage or buy a share in a residential property (e.g. housing cooperative). The restrictions under law and the regulations apply.

Would you like to get a new insurance certificate or do you have any questions regarding your certificate? Don’t hesitate to contact us.