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BVG key figures 2026: All key figures of the pension fund since 1985
Minimum interest rate, conversion rate, coordination deduction and entry threshold - in a clear overview. Officially from the Federal Social Insurance Office, complete since the introduction of the BVG.
| Primary source | Federal Social Insurance Office (FSIO), «Important key figures in the area of occupational pensions», 2025/2026 edition |
| Valid from | 1 January 2025 (next adjustment of salary thresholds in 2027 at the earliest) |
| Scope | Statutory BVG minimum values in the mandatory scheme. Non-mandatory benefits from your pension fund can be more generous. |
You receive your pension certificate. One page of figures, lots of abbreviations, no context. The key question: Are you better off than you were ten years ago - or worse? This page gives you the answer. In a table, with all BVG key figures since 1985, from a single official source.
The BVG benchmark values for 2026 are unchanged compared to 2025: Entry threshold CHF 22,680, coordination deduction CHF 26,460, minimum conversion rate 6.80 % and minimum interest rate 1.25 %. Stable on paper. But if you look at the 40-year perspective, you quickly realise that the historical decline is massive - and it affects you directly.
| BVG minimum interest rate 2026 | 1.25 % - In 1985, it was still at 4.00 %, a decrease of 75 % |
| Minimum conversion rate age 65 | 6.80 % - CHF 100,000 credit balance becomes CHF 6,800 pension per year, unchanged since 2014 |
| Coordination deduction 2026 | CHF 26'460 - Deduction before BVG insurance |
| Entry threshold 2026 | CHF 22,680 - You are covered by BVG insurance from this annual salary |
| Primary source | Federal Social Insurance Office (FSIO), key figures 2025/2026 |
Why these figures are important to you
The BVG parameters determine three things in your life: how much of your salary goes into the pension fund, the minimum interest rate on your assets - and how high your guaranteed pension will be in old age. Not a sideshow: for most employees, their pension fund is the biggest asset they will ever have after their own home.
The problem is that these figures change regularly, are scattered across various PDFs and are not neatly summarised anywhere. If you want to understand why your pension fund pension is lower than that of your father or grandfather, you need the historical context - and no one provides you with exactly that.
Our assessment: The stable 1.25 % minimum interest rate sounds harmless. But they are not. The value has fallen by 75 % since 1985. This is no longer a safety net, it's a floor - and anyone who builds their pension provision solely on the BVG minimum will be in for a nasty surprise in old age.
In short: Here you will find all BVG key figures since its introduction in 1985, from a single official source. Including entry threshold, coordination deduction, minimum interest rate and conversion rate - with historical time series since 1985.
The most important BVG key figures for 2026 at a glance
All currently applicable values from the 2025/2026 edition of the FSIO communication. The salary thresholds have applied since 1 January 2025 and will remain unchanged in 2026.
| key figure | Value 2025/2026 | Valid from | Meaning |
|---|---|---|---|
| Entry threshold | CHF 22,680 | 01.01.2025 | You are covered by BVG insurance from this annual salary |
| Coordination deduction | CHF 26'460 | 01.01.2025 | Deducted from salary, remainder is insured |
| Upper limit | CHF 90'720 | 01.01.2025 | Maximum salary subject to BVG contributions |
| Max. coordinated wage | CHF 64,260 | 01.01.2025 | Maximum insured salary (after deduction) |
| Min. coordinated wage | CHF 3'780 | 01.01.2025 | Minimum insured salary |
| BVG minimum interest rate | 1.25 % | 01.01.2024 | Guaranteed minimum interest rate Obligation |
| Statutory minimum conversion rate (65) | 6.80 % | 01.01.2014 | per cent of the balance as an annual pension |
All amounts gross, validity BVG mandatory scheme. Non-mandatory regulations may differ.
What do the entry threshold and coordination deduction mean?
Entry threshold: CHF 22,680. If you earn less than this amount with an employer, you are not compulsorily insured in the pension fund there. This mainly affects part-time workers and people with several small jobs.
Part-time problem: The fixed coordination deduction of CHF 26,460 is deducted regardless of the level of employment. Anyone working 60 % and earning CHF 48,000 has a coordinated salary of only CHF 21,540 - with 100 % it would be CHF 53,540. Part-time employees are therefore disproportionately worse off in the BVG mandatory scheme.
Coordination deductionCHF 26'460. This is the part of your salary that does not count towards the pension fund. This amount is deducted from your gross salary, only the remainder is the «coordinated salary». The deduction is called this because it coordinates AHV and BVG and avoids double insurance. Your pension fund contributions are only calculated on this insured salary - and only this determines your future pension.
With an annual salary of CHF 80,000, only CHF 53,540 is insured under the BVG mandatory scheme (CHF 80,000 minus CHF 26,460). Your BVG contributions are calculated on this amount. Find out more in our Explanatory note on the coordination deduction.
Minimum interest rate: 1.25 %. The BVG minimum interest rate only applies to mandatory retirement assets, not necessarily to extra-mandatory assets. Your pension fund must pay interest of at least 1.25 % per year on your mandatory assets. In 1985, this rate was 4.00 %. Pension funds are allowed to be more generous than the BVG minimum - and many are.
Statutory minimum conversion rate: 6.80 %. Put simply, this is how much pension you get per CHF 100,000 of assets. The statutory minimum conversion rate of 6.80 % applies to the BVG mandatory scheme. Many real pension fund benefits are also based on non-mandatory rules, where lower rates may apply. When you retire, your mandatory retirement assets are converted into an annual pension at this rate: CHF 100,000 credit = CHF 6,800 pension per year.
Important: Pension funds may be more generous than the BVG minimum. Your effective conversion rate depends on the regulations of your pension fund and may be lower than 6.80 % for the entire credit balance in the case of enveloping funds. Check your pension certificate.
Sample calculation: What the changes mean in concrete terms
Imagine you earn CHF 80,000 gross per year and work for 40 years.
- Gross wage
- CHF 80,000
- Coordination deduction 2026
- - CHF 26'460
- Coordinated wage today
- = CHF 53'540
- Coordination deduction 1985
- - CHF 16'560
- Coordinated wage with 1985 deduction
- = CHF 63'440
Difference: CHF 9,900 more insured salary per year. Over 40 years, this would mean around CHF 40,000 more retirement assets with the same contribution rates.
- CHF 200,000 starting balance, 4.00 % (as in 1985) over 40 years old
- CHF 960,000
- CHF 200,000 starting balance, 1.25 % (as 2026) over 40 years
- CHF 330,000
- Difference
- CHF 630,000
Not a typo.
Assumptions of this calculation: Starting balance CHF 200,000, pure compound interest calculation (annual interest), no further payments, nominal values (not adjusted for inflation). The calculation shows the isolated interest effect.
More conservative variant: Even with a more realistic comparison - e.g. 3.00 % vs. 1.25 % - the difference after 40 years is still around CHF 324,000 (CHF 653,000 vs. CHF 329,000). The compound interest effect has a massive impact over long periods of time, even with smaller differences.
This does not mean that your pension fund only earns 1.25 %. Many funds pay interest above the minimum. But the minimum interest rate shows what you are guaranteed to receive. And this guaranteed value has fallen massively. To understand how this affects your personal pension provision, we recommend the FinanceTimetable.
Minimum interest rate and conversion rate 2026
The BVG minimum interest rate for 2026 is 1.25 %. The Federal Council sets it annually in autumn. It applies to mandatory retirement assets. Pension funds are allowed to pay more interest - and many do.
The statutory minimum conversion rate has remained unchanged at % 6.80 since 2014. The BVG reform 2024 would have lowered it to 6.00 %. The people voted no on 22 September 2024 with 67 %. The rate remains at 6.80 %.
Important: Both values - minimum interest rate and conversion rate - are statutory minimum values for the BVG mandatory scheme. Your pension fund can stipulate more generous conditions in its regulations. Conversely, many funds apply lower conversion rates in the extra-mandatory area, sometimes below 5.00 %. Check your pension certificate for your actual values.
Historical development since 1985
The following tables show the complete time series of all BVG key figures since its introduction in 1985. Source: Federal Social Insurance Office (FSIO).
Wage data and threshold amounts since 1985
| Period | Entry threshold | Coordination deduction | Upper limit | Max. coord. Wage |
|---|---|---|---|---|
| 2025-2026 | CHF 22,680 | CHF 26'460 | CHF 90'720 | CHF 64,260 |
| 2023-2024 | CHF 22'050 | CHF 25'725 | CHF 88'200 | CHF 62'475 |
| 2021-2022 | CHF 21'510 | CHF 25,095 | CHF 86'040 | CHF 60'945 |
| 2019-2020 | CHF 21'330 | CHF 24'885 | CHF 85'320 | CHF 60'435 |
| 2015-2018 | CHF 21'150 | CHF 24'675 | CHF 84'600 | CHF 59'925 |
| 2013-2014 | CHF 21'060 | CHF 24'570 | CHF 84'240 | CHF 59'670 |
| 2011-2012 | CHF 20'880 | CHF 24'360 | CHF 83'520 | CHF 59'160 |
| 2009-2010 | CHF 20'520 | CHF 23'940 | CHF 82'080 | CHF 58'140 |
| 2007-2008 | CHF 19'890 | CHF 23'205 | CHF 79'560 | CHF 56'355 |
| 2005-2006 | CHF 19'350 | CHF 22'575 | CHF 77'400 | CHF 54'825 |
| 2003-2004 | CHF 25'320 | CHF 25'320 | CHF 75'960 | CHF 50'640 |
| 2001-2002 | CHF 24'720 | CHF 24'720 | CHF 74'160 | CHF 49'440 |
| 1999-2000 | CHF 24'120 | CHF 24'120 | CHF 72'360 | CHF 48'240 |
| 1997-1998 | CHF 23'880 | CHF 23'880 | CHF 71'640 | CHF 47'760 |
| 1995-1996 | CHF 23'280 | CHF 23'280 | CHF 69'840 | CHF 46'560 |
| 1993-1994 | CHF 22'560 | CHF 22'560 | CHF 67'680 | CHF 45'120 |
| 1992 | CHF 21'600 | CHF 21'600 | CHF 64'800 | CHF 43'200 |
| 1990-1991 | CHF 19'200 | CHF 19'200 | CHF 57'600 | CHF 38'400 |
| 1988-1989 | CHF 18'000 | CHF 18'000 | CHF 54,000 | CHF 36'000 |
| 1986-1987 | CHF 17'280 | CHF 17'280 | CHF 51'840 | CHF 34'560 |
| 1985 | CHF 16'560 | CHF 16'560 | CHF 49'680 | CHF 33'120 |
Values according to BSV. Coloured line at the top: currently valid values. Sorted in descending order by year. From 2005-2006, the calculation formula of the 1st BVG revision applies (lower entry threshold, differently calculated coordination deduction).
BVG minimum interest rate since 1985
| Period | Minimum interest rate | Change |
|---|---|---|
| 2024-2026 | 1.25 % | Slight recovery after interest rate turnaround |
| 2017-2023 | 1.00 % | Historic low, 7 years |
| 2016 | 1.25 % | Negative interest rate phase SNB |
| 2014-2015 | 1.75 % | Slight increase |
| 2012-2013 | 1.50 % | Low interest rate environment |
| 2009-2011 | 2.00 % | Financial crisis |
| 2008 | 2.75 % | Short rise before the financial crisis |
| 2005-2007 | 2.50 % | Slight recovery |
| 2004 | 2.25 % | All-time low, reaction to stock market crash |
| 2003 | 3.25 % | First reduction after dotcom crisis |
| 1985-2002 | 4.00 % | Baseline, 18 years unchanged |
The minimum interest rate has fallen from 4.00 % (1985) to 1.00 % (2017-2023). A decrease of 75 %. In concrete terms, this means that anyone with CHF 100,000 in their pension fund in 1990 was guaranteed CHF 4,000 in interest per year. In 2020, it was CHF 1,000 for the same balance.
The rate has been at 1.25 % since 2024. A slight recovery after the SNB's interest rate turnaround, but a far cry from historical levels.
What that means for you: Don't rely on the BVG minimum. Check your pension certificate to see what your specific fund has effectively paid in interest - over the last three to five years. If you're well above 1.25 %, you're in luck. If you are stuck at the minimum, you should take the 3rd pillar seriously.
Conversion rate since 1985
| Period | Conversion rate (age 65) | Pension per CHF 100,000 |
|---|---|---|
| 2014-2026 | 6.80 % | CHF 6'800 |
| 2011-2013 | 6.85 % | CHF 6'850 |
| 2010 | 6.90 % | CHF 6'900 |
| 2009 | 6.95 % | CHF 6'950 |
| 2008 | 7.00 % | CHF 7'000 |
| 2007 | 7.05 % | CHF 7'050 |
| 2006 | 7.10 % | CHF 7'100 |
| 2005 | 7.15 % | CHF 7'150 |
| 1985-2004 | 7.20 % | CHF 7'200 |
The conversion rate was gradually reduced from 7.20 % to 6.80 % between 2005 and 2014. This was part of the 1st BVG revision. For every CHF 100,000 in assets, this means CHF 400 less pension per year, for life.
The BVG reform 2024 would have lowered the conversion rate to 6.00 %. The people said no on 22 September 2024. The rate remains at 6.80 %.
Important: The conversion rate of 6.80 % only applies to the BVG mandatory portion. Many pension funds apply lower rates to the non-mandatory portion, sometimes below 5.00 %. Your effective conversion rate can therefore be significantly lower.
The 1st BVG revision 2005
The 1st BVG revision came into force in 2005. It fundamentally changed the system in two areas.
New calculation formulae. The entry threshold and coordination deduction were identical from 1985 to 2004 (each = maximum single AHV pension). New formulae apply from 2005: Entry threshold = 3/4 of the maximum AHV pension, coordination deduction = 7/8 of the maximum AHV pension.
This had two effects: The entry threshold fell from CHF 25,320 (2004) to CHF 19,350 (2005). More part-time workers and low-income earners were insured under the BVG. At the same time, the maximum insured salary rose from CHF 50,640 to CHF 54,825.
Gradual reduction of the conversion rate. From 7.20 % (2004) to 6.80 % (2014), in steps of 0.05 percentage points per year. The reason: increasing life expectancy made the old rate no longer actuarially viable.
Frequently asked questions about the BVG corner values
The BVG minimum interest rate is the guaranteed minimum interest rate that your pension fund must grant on your mandatory retirement assets. The Federal Council sets it annually, based on the yield on Confederation bonds and other investments. In 2026 it will be 1.25 %.
The Coordination deduction is deducted from your gross salary before the BVG contributions are calculated. It coordinates the 1st pillar (AHV) with the 2nd pillar (BVG) so that the same part of your salary is not insured twice. In 2026 it amounts to CHF 26,460.
Three factors: The minimum interest rate has fallen by 75 % since 1985 (less compound interest on your assets). The conversion rate has been reduced from 7.20 % to 6.80 % (less pension per franc of assets). And many funds apply even lower conversion rates in the extra-mandatory area.
No. 6.80 % is the statutory minimum rate and only applies to the mandatory portion of the BVG assets. Your fund can apply a lower rate to the non-mandatory portion. Check your pension certificate to see your effective conversion rate.
Anyone who earns less than CHF 22,680 per year from one employer is not insured under the BVG. If you work for several employers and earn more than the threshold in total, you can voluntarily register with the BVG Substitute Occupational Benefit Institution insure.
The salary thresholds are generally adjusted every two years when the AHV pensions increase. The minimum interest rate is set annually by the Federal Council, each autumn for the following year. The conversion rate can only be changed by legislative amendment (and thus by referendum).
Practically nothing for the core values. The salary thresholds (entry threshold, coordination deduction, upper limit) have applied since 1 January 2025 and will remain unchanged in 2026. The minimum interest rate has been 1.25 % since 2024 and the minimum conversion rate has been 6.80 % since 2014. The next possible adjustment of the salary thresholds will take place on 1 January 2027 at the earliest.
No. The 2024 BVG reform would have lowered the conversion rate from 6.80 % to 6.00 %. The people voted no on 22 September 2024 with 67 %. The rate remains at 6.80 %.
Yes, via a voluntary purchase into the pension fund. You can use this to make up for missing contribution years or salary increases. The maximum possible purchase amount is shown on your pension certificate. Purchases are generally tax-deductible.
If you change jobs, your retirement assets will be transferred to a vested benefits account or to the new pension fund. No money is lost. When switching, check whether the new fund offers better or worse conditions than the BVG minimum.
Methodology and sources
Each figure checked against an official source
Transparency as a quality feature - where values have been reconstructed, it says so. You can check every data point.
Document «Important key figures in the area of occupational pensions», 2025/2026 edition, Marie-Claude Sommer, MAS Mathematics Division, FSIO Bern. 21 pages, complete time series 1985-2026 - the only officially citable source for BVG key figures in Switzerland.
Conversion rate 2005-2010 (7.15 % to 6.90 %) derived from Art. 62c BVV2 - 0.05 percentage points per year. Legally binding, therefore reliable, but formally not a direct FSIO source. Values 2011-2014 again directly from FSIO.
BSV key figures 2013/2014 (historical comparison), ASGA Pension Fund Fact Sheet 2025/2026 and Bernese Pension Fund key figures 2026.
Women's conversion rates before 2005 (different retirement ages). Since 2005, the same statutory rate has applied to everyone at age 65 - transitional values are historical and not relevant for current decisions.
Source links
What you can do now
Three concrete steps that make sense for almost every employee:
- Get out your pension certificate and check it. Most people give it a cursory glance once a year. This time: What was the effective interest rate on your assets in the last three years? What is your effective conversion rate (mandatory vs. non-mandatory)? What is your projected pension at 65?
- Calculate the gap, don't estimate it. Take the amount of the projected pension and compare it with your current expenses. If you need 80 % of your last salary to live on (rule of thumb), you will quickly see whether your AHV and pension fund are enough.
- Take the 3rd pillar seriously. If you only rely on BVG, you are missing out on one of the best tax optimisations in Switzerland. Pillar 3a is fully tax-deductible up to CHF 7,258 per year (2026, employees with a pension fund). Self-employed persons without a pension fund can pay in up to 20 % of their net earned income, up to a maximum of CHF 36,288.
- CHF 7,258 per year, 30 years, 5 % Yield (securities-3a)
- around CHF 482,000
- The same amount earns interest at the BVG minimum 1.25 %
- around CHF 265,000
- Difference
- over CHF 217,000
And that's before the annual tax savings of around CHF 1,500 to 2,500 per deposit are factored in. More on this in the Pillar 3a comparison.
If you want to do the maths properly, without a sales pitch in mind: the FinanceTimetable is our own tool for this. No commission, no products - just the numbers.
Conclusion
The BVG benchmark values for 2026 are stable on paper - but the historic decline is massive and affects every employee in Switzerland. Entry threshold, coordination deduction and marginal amounts remain unchanged in 2026 at the level of 2025. Minimum interest rate 1.25 %, conversion rate 6.80 %. No surprises. But a look back shows: The minimum interest rate has fallen by % 75 since 1985, the conversion rate by around % 6.
For whom is this page important? For all employees in Switzerland who want to understand why their pension fund pension is lower than that of their parents. Especially for part-time workers, who do disproportionately badly due to the fixed coordination deduction.
The most important reason why this counts: The compound interest effect also works downwards. Anyone who pays interest at 1.25 % instead of 4.00 % for 40 years will end up with a third of their retirement assets - for the same amount paid in. This is not a theoretical problem. This is the reality of the next generation of pensioners.
The clean exception: If you are insured in a non-mandatory pension fund that pays generous interest and allows voluntary buy-ins, you may be in a much better position than the BVG minimum would suggest. Check your regulations. Not all funds are the same.
Your next step: Pull out your pension certificate. Look at what actually applies - not what the law prescribes as the minimum. If you are unsure whether your pension provision is sufficient, calculate the gap with the FinanceTimetable or talk to an independent person you trust.
No investment advice. For questions about your individual pension provision, we recommend a discussion with an independent specialist or the FinanceTimetable.