FAQ

Smolio calculates your possible pension to the best of its knowledge and belief based on the information in the pension calculator. We make a number of assumptions and simplifications, as we are unable to reflect all the intricacies of old-age and survivors’ insurance (AHV) and the numerous pension fund regulations. Even with AHV and the pension fund, your pension amount is only final when you receive your pension statement, as your income may change continuously until then. We therefore ask for your understanding that we cannot guarantee the calculated values. The more information you give us, the more accurately we can calculate your pension.

In the AHV
we take into account a childcare credit of 16 years for the first child and 2 additional years for each additional child, we do not take into account any childcare credits, we deduct years of absence from a full contribution period, we assume that your current salary has always been this high since you started working and will remain this high until you retire (“constant salary level”) and that this is also the case for both (spouses), we apply the so-called “golden rule” and assume that salaries, prices and interest on retirement assets develop in the same way.
In the pension fund (BVG)
If we assume a full contribution period from the age of 25, the respective compulsory contributions for the corresponding age category and insured salary / coordination deduction in accordance with the BVG, we will apply interest on all contributions already made and future contributions up to retirement at the currently applicable BVG interest rate of 1.0%, which leads to excessively low BVG retirement assets, particularly for older insured persons.

Smolio calculates how much income you (or you as a couple) will have in your first year of retirement (or the first year of retirement of one of the two partners) from the first, second and third pillars. We first compare this income with a requirement of 80% or the requirement you have set. This can result in a surplus or shortfall, which is shown as a gap or cushion. In the case of couples, there may be a change between a cushion and a gap over time. Please study the results chart in the pension cockpit. It shows you your income flows and gap/ cushion on an annual basis; if you move the mouse over the individual bars, it will show you the detailed values.

Smolio is based on the tried-and-tested rule of thumb that you need around 80% of your last gross income in retirement. If you have less than 60% of the median income of the population as a whole, you slip below the at-risk-of-poverty threshold and are at risk of social exclusion. The median income is the income at which there are as many people with a higher income as with a lower income. If you take the median income, you are therefore in the middle of a group: there would be just as many people with more and just as many people with less income than your median income. This is why Smolio sets the minimum requirement at the Federal Statistical Office’s at-risk-of-poverty threshold of CHF 30,000 for a single-person household or CHF 45,000 for a household with two adults; this corresponds to 60% of the Swiss median income.

Smolio assumes the “golden rule”: wages, inflation and pensions develop in the same way. If we were to make assumptions about inflation, we would also have to make assumptions about the development of the AHV pension classes and future interest on retirement assets. As forecasts are inherently flawed, we have omitted the fictitious accuracy resulting from forecasts for the sake of simplicity.

Smolio is an independent Swiss startup of young entrepreneurs with experience in user experience design, software development, psychology and capital markets. The questions from us and our friends and colleagues, as well as the need to manage our private finances ourselves, have brought us together and motivated us to share our experience with you through Smolio.

Smolio is independent of banks and insurance companies and is financed by the founders with a long-term vision. For us, the focus is initially on customer centricity and developing the offering rather than monetizing it. We are convinced that offers that create value for customers lead to demand and thus also to a willingness to pay. Basic functions will always be free of charge, but we will make certain functions available for a fee in the future. We are also monetizing our collaboration with independent asset managers. However, Smolio will remain independent. We do not broker any financial products. This means that we are there 100% for our customers and do not receive any commission for brokering financial products.

Smolio does not pass on any personal data to third parties unless you expressly agree to this (e.g. if you request advice from an asset manager). We use your portfolio data for our statistics in order to further develop Smolio for our users.

If you decide to leave Smolio, all your personal data will be deleted immediately and irrevocably.

Your data is transmitted to Smolio in encrypted form. Smolio stores your data on servers in Switzerland.

Smolio provides tips that we believe apply to people in a similar situation to you. We help you so that you can decide for yourself whether you want to optimize your finances accordingly. The tips are based on publicly available information and experience. Smolio offers financial coaching. If you need individual financial advice, you can contact an independent wealth manager via Smolio for advice.

You decide on your finances and carry out actions and transactions yourself. Smolio accepts no liability for this.

Our independent asset managers can provide advisory services on your behalf, for example by reviewing your investment considerations and investment proposals and advising you. Their opinion should help you to select the right investment for you. Any forecasts given are estimates based on experience and current developments. They do not necessarily come true. Smolio accepts no liability.