The Swiss Old-Age, Survivors and Invalidity Insurance system is built on three pillars.
- the first pillar – or old-age, survivors and disability insurance (OASI/IV) – provides general cover, is compulsory for everyone in Switzerland, and is intended to cover the basic living costs of the insured.
- the second pillar – or occupational pension provision – is compulsory for all employees. Together with the first pillar, the occupational pension should enable the insured to maintain the standard of living that they enjoyed prior to their retirement.
- the third pillar is private pension provision.
Old-Age and Survivors Insurance (OASI) and the Invalidity Insurance (IV)
Federal Social Insurance Office, Switzerland: Social security in Switzerland