Old age and survivors’ insurance (OASI)

OASI provides old-age benefits (retirement pension) or benefits to dependents (widows’ and orphans’ pensions). The benefits depend on the amount of previous income and the amount of time for which contributions were made. OASI insurance is mandatory for everyone who lives or works in Switzerland. The insurance is based on the pay-as-you-go system: people who are working today fund the pensions of today’s retirees. All men and women who work in Switzerland are required to contribute, with the employer paying half of the contribution and the employee the other half.