People from German-speaking Switzerland have more confidence in the AHV and occupational pensions than those from French-speaking Switzerland. To be better protected in old age, French-speaking Swiss are therefore more likely to make private provisions.
Only one in five people in French-speaking Switzerland believe that they will be able to maintain their accustomed standard of living after retirement. In German-speaking Switzerland, on the other hand, more than half do - as shown by AXA's 2023 pension study. Philippe Weinberger is Head of Broker Western Switzerland at AXA and knows customers on both sides of the language border well. He is not surprised by the results: «We have observed that the French-speaking population is generally more skeptical about their work and pension situation. For example, according to an SRG survey, the fear of losing one's job is almost three times greater in French-speaking Switzerland than in German-speaking Switzerland.»
Romands have less confidence in the first and second pillars
AXA's online survey of over a thousand people aged between 18 and 65 shows, the French-speaking Swiss are generally less confident about the first and second pillars. While 85% of German-speaking Swiss have confidence in the AHV, only 67% of French-speaking Swiss have confidence in occupational benefits, compared with 87% and 72% respectively. Of the three most common reasons for skepticism in both language regions, demographic trends and the lowering of conversion rates are cited. Another reason cited by French-speaking Switzerland was inflation, while German-speaking Switzerland cited a lack of trust in politics.
When asked what percentage of their income they should receive as a pension from the 1st and 2nd pillars to maintain their standard of living, one in four people in French-speaking Switzerland said they should receive 81% to 100% of their previous salary, while only one in six people in German-speaking Switzerland thought the same. In German-speaking Switzerland, the majority said 61% to 80% of the salary.
German-speaking Swiss are more likely to have a pillar 3a solution
The distrust of the French-speaking Swiss in the first and second pillars does not lead to them making more provisions in the third pillar. While around 80% of the German-speaking Swiss state that they have a pillar 3a, only 70% of French speakers do. However, the reasons given are the same in both language regions: lack of money or the timing is not right.
Less confidence in the first and second pillars, less often a third pillar - where do Romands see capital for retirement instead? 34% consider their future inheritance to be an essential part of their retirement provision. Among the German-speaking Swiss, the figure is only 25%.
About the pension study
AXA has been conducting a comprehensive study on pension provision in Switzerland every year since 2019. For the current study, 1018 people aged between 18 and 65 from German-speaking and French-speaking Switzerland were surveyed via the Intervista online panel between March 23 and April 3, 2023.