2024-01-27 10:31:54
Part-time work is becoming more and more popular. This choice is no longer just the prerogative of mothers, but also of the new generation, who no longer wish to work full time, even before having children. However, working part-time has a significant impact on retirement.
When we choose to reduce our activity rate, we often think mainly regarding salary. However, there are many other factors that come into play, demonstrates UBS study published Thursday.
>> Read also: The Swiss are unaware of the functioning and challenges of their old age provision
Impact on the 2nd pillar
A person working part-time runs the risk of not being able to count on the same salary progression as a 100% employee, according to UBS economists, due to a lack of promotion opportunities.
We must also take into account the repercussions on the 2nd pillar, recalls Michèle Mottu Stella, LPP expert in professional pension provision at Prevanto.
“In the context of the 2nd pillar, which is capitalization, it is certain that if we save less for a shorter period of time, we will have lower capital in the end,” she indicates in La Matinale de la RTS. “This is the principle of capitalization: you build your savings assets with contributions and interest for the year,” she adds.
This drop in salary also limits savings potential, which will also have an impact on individual pension provision such as voluntary contributions to the 3rd pillar.
Disadvantaged women
Michèle Mottu Stella also specifies that in the longer term, it is still women who bear the brunt of these disadvantages, the Swiss system being “fairly traditional”.
“It is mainly women who reduce their activity rate when children appear, which means that in addition to cutting themselves off from a pension, they also cut themselves off from a career,” she explains.
>> Reread: Mothers increasingly active in the job market, but especially part-time
These pension gaps can therefore be significant in the end, sometimes reaching a difference of up to 20,000 francs per year.
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