At 50 it's worth starting to think about the second half of your life – and not just in relation to retirement provision.
What will the second half of life be like?
To have your foot on the gas non-stop until the age of 65 and then retire overnight is something that Thomann considers extremely unhealthy. He wonders why the working model in Switzerland is still so rigid. After all, he believes that flexwork models are to everyone's benefit: Companies benefit from the transfer of knowledge and employees from a gradual withdrawal from working life. Thomann is grateful that "Nagli" introduced flexible working models early on, with great success.
We don't have any hierarchies or bosses – it works perfectly.
Success without any hierarchical levels
Head of Production, Milan Matic, adds: "The atmosphere in the team is great: We are all pulling together and everyone is their own boss – this creates a good feeling and makes me very proud". Matic has worked at Schweizerische Nagelfabrik for 25 years and wants to continue to do so until his retirement. When he is 50 he wants to take things a bit easier and reduce his working hours to spend more time on his beloved racing bikes. How will he manage it? He doesn't know yet. But Matic is following the guidance of his colleague Thomann and seeking advice early.
Six "bosses": Does it work?
"There are differences of opinion everywhere. But our aim is to resolve conflicts amicably," explains Thomann. The most important decisions are discussed in staff meetings: Talks normally last until everyone is in agreement. Apart from on one occasion this has worked every time.
Our corporate philosophy is certainly pioneering. We believe in people before profit.
A view to the future
The factory's future is particularly dependent on the people who work there. For this reason, succession planning is ascribed a high level of significance. A good mix and the perfect age structure are essential: The youngest employee is 33, while the oldest is 66 years old.
Facts about Schweizerische Nagelfabrik
From what age does it make sense to have a retirement strategy?
As an entrepreneur, how can you optimize your occupational retirement provision?
Our tip: Take advantage of the opportunities offered by the first and second pillar.
- Type of payment: As the head of a company, you can determine your income yourself and decide which portion is paid out as a salary and which as dividends. Dividends bring tax benefits. However, if your salary is low, your AHV pension and pension fund credit balance will also turn out lower. Buying into the pension fund – a popular way to save taxes – is only possible to a limited extent if dividends are paid out. The optimal ratio between salary payment and the distribution of dividends is best determined by a fiduciary or tax advisor.
- Good pension plan: Insure yourself and your management staff with your pension fund beyond the mandatory coverage. This is possible for annual salaries of up to 860,400 Swiss francs. This enables you to build up additional pension assets and reduce your tax burden. It is best to plan your super-mandatory retirement provision for a period of at least ten years.
- Pension fund purchases: If you buy into a pension fund voluntarily, you will improve your retirement benefits and can benefit from tax breaks. The specification of the purchase amount is subject to a holistic assessment and can best be determined with the help of a financial or insurance advisor.