At Adobe, we think it’s never too early or too late to start saving for retirement. That’s why we provide you with the Adobe Switzerland Pension Plan through AXA. The Adobe Switzerland Pension Plan consists of retirement savings and insurance that provide benefits to you or your survivors in the event of your disability or death.
Eligibility and enrolment
If you are a regular or Adobe-paid temporary employee with a contract duration longer than three months, or an intern, and earn more than CHF 22’050 per year, you will be automatically enrolled in Adobe’s Switzerland Pension Plan from your date of hire.
How the plan works
The plan has two components:
- A retirement savings plan, to which both you and Adobe contribute to help you achieve financial security. Contributions are calculated based on your age and a percentage of your basic salary, less a deductible.
- The second component provides a pension to you in the event of your disability or a survivor’s pension and lump-sum benefit in the event of your death before retirement. Adobe pays the premium for this plan component.
In the event of a long-term disability due to illness (24 months or longer), you are eligible for a disability pension of 60% of your pensionable salary as well as a child’s pension of at least 8% of the pensionable salary if your eligible child is under the age of 18 or still in school.
If you die before retirement, AXA will pay out the full value of your Adobe pension fund. If you are married or in a partnership, the lump-sum payable at death is equal to the amount of the accrued retirement assets at the end of the insurance year, less the amount required to finance the spouse’s or partner’s pension. The spouse's or partner’s pension is 40% of the insured salary. The child’s pension is 8% of the insured salary. For plan details, review Benefits at a glance [PDF] and the policy document that applies to you:
Contributions
You and Adobe contribute equally to the plan; however, Adobe pays the full premium for the insured portion of the plan and all administrative costs.
Both your and Adobe’s contributions are paid into a fund managed by AXA. The semi-autonomous pension fund holds a variety of investments (bonds, shares, real estate). AXA will credit your account each year with an investment return equal to the guaranteed minimum, and possibly more. There is no change in the minimum guaranteed BVG investment return received. However, because the investments do not provide a guarantee, there is a chance of getting a greater investment return. Visit the website for up-to-date AXA Professional Invest information and performance.
Contribution percentages by age
Your contribution percentage is automatically assigned to you depending on your age. Starting at the age of 25, every 10 years you will be automatically moved up to the next contribution level, as shown in the table below.
| Age | Adobe Contribution | Employee Contribution | Total % of Pensionable Salary |
|---|---|---|---|
| 25–34 | 4% | 4% | 8% |
| 35–44 | 5.5% | 5.5% | 11% |
| 45–54 | 8% | 8% | 16% |
| 55–64/65 | 9.5% | 9.5% | 19% |
Pensionable salary
Pensionable salary means your base salary plus 100% AIP commission or bonus paid in the last 12 months, less coordination offset of CHF 25’725 as of 2024. (For employees new to Adobe who will not have had any commission or bonus paid for the first 12 months, pensionable salary will be based on 95% of potential bonus and 50% of potential commission.)
Example pension calculation
Let’s assume a full-time sales employee, age 45, with an annual salary of CHF 94‘885 would have the following contributions made to their account. (As noted above, pensionable salary is equal to base salary plus 100% commission paid in the last 12 months.)
| Employee’s annual salary (coordination offset x full-time employment) | 94'885 - (25'725 x 100%) = 69'160 |
| Employee and employer each contribute 8% x of employee’s salary each year | 8% x 69'160 = 5'532.80 |
| Total annual retirement contribution: 16% x of employee’s salary | 16% x 69'160 = 11'065.60 |
Additional voluntary contributions
You can make additional voluntary contributions to the plan online through the AXA website, or by calling AXA at +41 58 215 67 31. You will need to ask AXA for a calculation on the amount you can contribute, or you can check your individual statement received in January each year.
Your pension distribution options at retirement
You can choose to withdraw your pension benefits when you reach retirement age, which is 64 for women and 65 for men in Switzerland. Early retirement is also a possible option starting at age 58. You can choose to withdraw the pension benefit in three ways:
- A lump sum, which will be taxed by a reduced capital tax
- A life-long annuity, which will be considered taxable income
- A mixture of lump sum and annuity
If you leave Switzerland, your withdrawal options may be limited. For details about your pension distribution options, visit the AXA website.
How to access your AXA account
To register, visit My AXA and enter the login details in the welcome letter AXA sent you. If you need assistance, contact the helpline at 0800 800 292. Once you are registered, you can access your pension account 24/7 to monitor it or to change your contributions.
Pension plan FAQs
Do I have to stay in the plan?
Yes. Participating in the plan is mandatory.
How are the pension contributions invested?
The pension contributions are invested within the AXA foundation semi-autonomous pension solution and managed by the AXA managing fund committee. As an employee, there is no change in the minimum guaranteed BVG investment return received. However, because the investments aren’t so constrained by having to provide a guarantee, there is more chance of getting a higher investment return.
Can I change where the contributions are invested?
No. The investments and funds are selected by the investment managers at AXA and applied across the whole pension foundation.
What happens if I’m off work unpaid for greater than one month?
AXA provides a summary sheet with the most important information regarding the unpaid leave.
If you take unpaid leave of at least 1 month, there are two options to extend the insurance with AXA (both further explained on the summary sheet). Option one includes the extension of both the savings contributions and the risk benefits (death and disability), while Option 2 includes the extension of the risk coverage only, but an interruption of the savings contributions.
Sign and return the Notification of Unpaid Leave [PDF] to the ERC.
What happens to the pension plan if I leave Adobe?
Your individual assets accumulated within the plan have to be transferred. You can contact AXA at +41 58 215 67 31 or visit the website for more information.
Upon leaving Adobe, AXA will automatically provide you of the relevant documents and options relating to the pension plan. You will receive a form from AXA where you can indicate what should happen with their accrued pension assets (transfer to pension fund of new employer, transfer to vested benefit account (if you do not have a new employer yet), (partial) lump-sum payment if you are moving abroad etc.). You can reach out to AXA directly if you have any questions on this matter at bvgservices31.bvg@axa.ch.
Important to note the transfer of the pension assets cannot be done until after the date you have officially left Adobe.
What happens to the pension plan if I die before I retire?
In the event of your death before retirement, AXA will pay out the full value of your Adobe pension fund.* If married or in a partnership, the lump sum payable at death is equal to the amount of the accrued retirement assets at the end of the insurance year, less the amount required to finance the spouse’s or partner’s pension. The spouse's or partner’s pension is 40% of the insured salary. The orphan’s pension is 8% of the insured salary.
* AXA may carry out investigations to evaluate your personal circumstances at the time of death, such as with financial dependents and close relatives so that the appropriate beneficiaries will receive the benefits.
How can I change my beneficiaries?
In case you would like to declare your partnership with another person for consideration as beneficiary under the pension plan, please confirm your partnership through My Adobe Benefits.
Alternatively, the General Order of Beneficiaries According to the Regulations of AXA in Switzerland will apply, and the full lump sum is payable at death to:
- The spouse of the insured; if none,
- The children eligible for a pension under Art. 50; if none,
- The natural persons that the insured person supported to a significant extent and the person with whom the insured had formed a partnership as defined in paras. 27.3 a) – c); persons who already receive a surviving spouse’s pension or a surviving partner’s pension from a Swiss or foreign occupational benefits institution are not eligible for the death lump sum; if none,
- The children of the insured who are not entitled to a pension under Art. 50; if none,
- The parents of the insured; if none,
- The siblings of the insured.
If none of the persons mentioned above are available, half of the lump sum payable at death shall be paid to the other legal heirs to the exclusion of the community. Beneficiaries in the same category shall receive equal parts of the death lump sum.