«My employee will soon retire. What arrangements do I need to make regarding insurance and finances? How can I help my employee make the transition to retirement?»
More and more baby-boomers born in the 1950s are now reaching retirement age. One day, your employee will also be ready to retire. What does retirement mean for your employee? And what role do you, as the employer, play in this transition process?
Normal retirement age
In Switzerland, the normal retirement age is 65 for men and 64 for women. But many people do not realise that the employment relationship does not end automatically when an employee reaches the normal retirement age. An open-ended contract continues to run until either the employer or the employee decides to terminate the employment relationship.
Employees may opt for early, late or partial retirement. The earliest possible retirement age is 58. The receipt of retirement pension benefits may be postponed for one to five years after reaching the normal retirement age. You can find more information on the flexible retirement age at www.ch.ch.
Employees often find it hard to think about their upcoming retirement. The feeling of no longer being needed, the loss of colleagues, and the end of daily work life – these and other factors can lead to uncertainty or even anxiety. Don't leave your employees alone with these concerns. Talk to them in good time about their perspective and feelings concerning their upcoming retirement.
Tips for a successful conversation:
- Take the time necessary and listen carefully to your employees.
- If they are worried about their retirement, show understanding and encourage them.
- Discuss possible plans for the future with them.
- Make sure that you fully inform them of the specific assistance you can offer as their employer (advice on financial planning, AHV pensions, pension funds, etc.).
Retirement preparation checklist
|Time before retirement||Tasks|
|10 to 15 years||
|5 to 10 years||
|3 months to 1 year||
|0 to 1 year||
Impact of retirement on your Helsana insurance
When employees reach the normal AHV retirement age and their employment ends, the insurance coverage for their daily sickness allowance expires automatically. Medical expenses are handled as usual via their private health insurance.
After the end of the employment relationship with your employees, your company continues to insure them against accidents for 30 days. Employees may opt to prolong this insurance coverage by means of extended insurance coverage (PDF, 89KB) for a maximum of 6 months.
When withdrawing from the company's accident insurance scheme, or upon the expiry of any extended insurance coverage, employees must insure themselves against accidents within the framework of the basic insurance provided by their health insurer. Accident insurance through the health insurer is compulsory for all those who are not collectively insured against accidents by their employers.
Are more and more employees retiring in your company? Are you worried about the loss of crucial expertise and unsure how to handle succession planning? Then just turn to our experts in occupational health management. We can advise and assist you on an individual basis, working together with you to find the right solution for your company. You can find more information at Helsana for companies, Health Management division.