Part-time work and financial security

According to the Federal Statistical Office, 60% of women in Switzerland work part-time, as compared with just 18% for men. In addition to paid employment, many women are responsible for childcare, housekeeping and do a large part of unpaid work, such as looking after elderly relatives. Part-time work has other drawbacks too – especially in financial terms.

The main impact of working part-time is that it reduces the benefits paid by the pension fund, and by the old age and survivors’ insurance (AHV). This problem is exacerbated by women’s earlier retirement age and higher life expectancy. Women who work part-time for long periods and who also take career breaks, for example due to maternity leave, face pension gaps. Women who work part-time are therefore disadvantaged in several ways. That’s why it’s worth taking advantage of the opportunities for pension savings via pillar 3a, whether a classic 3a account or selected investment funds that offer higher potential returns. Whichever option is chosen, it is essential for women working part-time to start making provision for their retirement at an early stage. Our retirement calculators can help.