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 Pension scheme / employee benefits unit

For each affiliated company, GEMINI manages a separate employee benefits unit. Each employee benefits unit determines its own benefits and their financing and has its own annual financial statements including the coverage ratio. The insured benefits and their financing are determined by the Framework Regulations and the pension plan for each group of persons.

2 Company

Your employer

3 Group of persons

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

4 Admittance to plan / PF

Admittance to plan: Date you joined the pension plan
Admittance to PF: 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 salaries

Are defined for each case in the pension plan and form the basis for the calculation of benefits and contributions.

7 Savings contribution

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.

8 Additional contribution

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

9 Development of savings capital

The capital you have accrued as per the calculation date according to the pension plan and the statutory BVG portion therein contained.

10 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.

11 Provisional interest rate

This interest rate corresponds to the BVG minimum interest rate.

12 One-time retirement lump-sum capital

Expected retirement 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 BVG interest rate.

13 CR (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 or the pension fund committee.

14 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.

15 Benefits at retirement age projected with 0% interest

The expected retirement lump-sum capital at retirement age pursuant to the pension plan calculated without interest.

16 According to BVG upon statutory retirement

Statutory minimum benefits pursuant to the BVG.

17 Retired person’s child’s pension

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

18 Disability benefits

In the event of disability, 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), with the statutory BVG portion being contained therein.

19 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 must be submitted.

20 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).

21 Maximum possible withdrawal for home ownership

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.

22 Pledging

Indicates whether there is a pledge of pension benefits for residential property.

23 Specification of beneficiary

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

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