Payroll+ remits the BVG deduction to Tellco in the month following each payroll period. Our pension fund contributions are not based on an estimate made at the beginning of the year, but are calculated based on your actual payroll. As part of our process, payroll+ reports all payroll payments from the previous month by the middle of the following month. The Tellco Pension Fund typically requires 30 to 45 days to credit our payments to the corresponding employee accounts.
Therefore, as of the date of issuance, the pension statement shows only contributions made up to approximately two months prior to that date. In addition, in accordance with BVG regulations, only the savings contribution is credited to the account. The risk and administrative portions remain with the pension fund to finance the benefits. The respective percentages are listed in the information sheets for the Basic Plan and the Executive Plan (see “Pension Fund” under “Downloads”).
Example: Age Category 55 Pension, Executive Plan, Gross Salary of 5,000 CHF
The total monthly BVG deduction (employer and employee contributions combined) is 22%. 5,000 * 22% = 1,100 CHF.
The savings contribution is 9% for both parties—18% in total.
1100/22 * 18 = 900 CHF: 900 CHF appears as savings in Eplix.