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Liechtenstein’s Pension System: Liechtenstein
Author:
Rodgers B Chawani
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Series:
Selected Issues Papers
Volume/Issue:
Volume 2025: Issue 048
Language:
English
Publication Date:
28 Apr 2025
DOI:
https://doi.org/10.5089/9798229011198.018
ISBN:
9798229011198
ISSN:
2958-7875
Pages:
12
Keywords:
Washington D.C. International Monetary Fund; occupational pension pension scheme; policy adjustment; population aging; AHV contributor; Pension spending; Pensions; Retirement; Aging; Insurance; Global
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IMF Selected Issues Papers are prepared by IMF staff as background documentation for periodic consultations with member countries. It is based on the information available at the time it was completed.
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The paper analyzes Liechtenstein's three-pillar pension system, assessing its structure, funding mechanisms, sustainability and adequacy challenges. Liechtenstein's pension system operates on a three-pillar framework comprising public pensions (AHV-IV-FAK), mandatory occupational schemes, and voluntary insurance. With reserves exceeding 150 percent of GDP, the system ranks third globally in accumulated savings. Despite robust financial health and built-in intervention mechanisms, demographic projections indicate Pillar I assets will decline below statutory minimums by 2043. The research concludes that population aging and increased life expectancy will necessitate policy adjustments such as raising retirement ages or increasing contribution rates to ensure the system's long-term viability.
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Cover Selected Issues Papers
Selected Issues Papers
Publisher:
International Monetary Fund