available here The Geneva Association How Europeans think about retirement plans
- Europeans use the term "Pillar I" to refer to government-run retirement income programs, what we would refer to as our Social Security retirement income benefits program.
- The term "Pillar II" refers to occupational retirement benefits arrangements, or as in the U.S., traditional defined benefit pension plans or 401(k) plans.
- The term "Pillar III" refers to individual retirement savings arrangements, such as individual annuities purchased away from work.
The report
3 facts about how the Swiss system works
1. Swiss workers earn more to start with. according to 2017 GDP data 2. Swiss workers save a lot more than U.S. workers. 3. Swiss workers, and employers, typically contribute a lot to defined contribution retirement plans.NOT FOR REPRINT
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Allison Bell
Allison Bell, a senior reporter at ThinkAdvisor and BenefitsPRO, previously was an associate editor at National Underwriter Life & Health. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached through X at @Think_Allison.
