How much flows into retirement capital each year depends on age. The BVG deliberately staggers the mandatory retirement credits. But not every percentage that sounds plausible actually belongs.
There are four levels in the mandatory scheme, and they are set by law. From 25 to 34 years of age, the retirement credit is 7 percent of the coordinated salary. From 35 to 44 it rises to 10 percent, from 45 to 54 to 15 percent, and from 55 until retirement to 18 percent. The logic behind this: the closer retirement comes, the more is saved, partly because income is usually higher at this stage of life. Over an entire working life, this adds up to a considerable retirement balance.
What is striking is what is missing from this series. 7, 15 and 18 percent are all valid rates. A rate of 21 percent, by contrast, does not appear in the mandatory scheme; the statutory retirement credit never climbs that high. So anyone looking among 7, 15, 18 and 21 percent for the credit that does not exist arrives at 21 percent.