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A Digital Individual Benefit Statement to Mitigate the Risk of Poverty in Retirement: The Case of Switzerland

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  • Catherine Equey Balzli

    (Department of Business Administration, Haute Ecole de Gestion Geneva, Campus de Battelle, University of Applied Sciences of Western Switzerland (HES-SO), 17 rue de la Tambourine, 1227 Carouge, Switzerland)

Abstract

Old-age retirement benefits are a major concern among the Swiss population but estimating one’s revenue after retirement is challenging due to the Swiss social system’s complexity. In Switzerland, as with many other countries, the risk of poverty for retiree people is high, especially for women who often work part-time. The research presented in this paper proposes a methodology to enable the development of a digital platform to provide Swiss citizens the means to verify that their retirement income will allow them to live decently when retired. The aim of the platform will be to allow insured people to plan for retirement in a simplified manner. The methodology used was both qualitative (focus group) and quantitative (surveys). The main results are recommendations for the scope and functionality for a digital platform to be developed. A main conclusion is the need to limit the platform’s scope to old-age pension only (e.g., excluding survivors’ or disability pensions). Moreover, an outcome regarding the functionalities is the proposition of scenarios such as postponed retirement, additional purchases in pension fund, or changes to individual status. The development of the platform is not included in the article.

Suggested Citation

  • Catherine Equey Balzli, 2021. "A Digital Individual Benefit Statement to Mitigate the Risk of Poverty in Retirement: The Case of Switzerland," Risks, MDPI, vol. 9(6), pages 1-14, June.
    • Handle: RePEc:gam:jrisks:v:9:y:2021:i:6:p:101-:d:566746
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    References listed on IDEAS

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    1. Lauren A. Mayer & Angela Hung & Joanne K. Yoong & Jack Clift & Caroline Tassot, 2013. "Designing Better Pension Benefits Statements Current Status, Best Practices and Insights from the Field of Judgment and Decisionmaking," Working Papers 951, RAND Corporation.
    2. Richard H. Thaler & Shlomo Benartzi, 2001. "Naive Diversification Strategies in Defined Contribution Saving Plans," American Economic Review, American Economic Association, vol. 91(1), pages 79-98, March.
    3. Lauren A. Mayer & Angela A. Hung & Joanne K. Yoong & Jack Clift & Caroline Tassot, 2013. "Designing Better Pension Benefits Statements Current Status, Best Practices and Insights from the Field of Judgment and Decisionmaking," Working Papers WR-951, RAND Corporation.
    4. Srichander Ramaswamy, 2012. "The sustainability of pension schemes," BIS Working Papers 368, Bank for International Settlements.
    5. Jonathan Barry Forman & Patricia Scahill, 2003. "Issues for Implementing Phased Retirement in Defined Benefit Plans," North American Actuarial Journal, Taylor & Francis Journals, vol. 7(3), pages 75-84.
    6. Jihyung Han & Daekyun Ko & Hyuncha Choe, 2019. "Classifying Retirement Preparation Planners and Doers: A Multi-Country Study," Sustainability, MDPI, vol. 11(10), pages 1-17, May.
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    Cited by:

    1. Ana Cecilia Quiroga Gutierrez & Stefan Boes, 2024. "Bridging the gap: Experimental evidence on information provision and health insurance choices," Health Economics, John Wiley & Sons, Ltd., vol. 33(6), pages 1368-1386, June.

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