Swiss pension system

The Swiss pension system operates on a three-pillar structure: the first pillar provides a state-funded, mandatory retirement income to ensure basic needs; the second pillar is occupational and employer-based, supplementing the first pillar based on earnings; and the third pillar is voluntary and private savings to enhance retirement funds. Together, these pillars aim to secure financial stability for retirees, balancing public support with individual savings, and are financed through contributions from employees, employers, and personal contributions. This system promotes social security, encouraging long-term savings to maintain living standards post-retirement.