the AVS loops on positive results, the AI ​​in the red

The old-age and survivors’ insurance (AVS) generated a distribution result of 880 million francs last year. The increase for 2020 (+579 million) is thus confirmed, said compenswiss, the body managing the AVS/AI/APG compensation funds, on Thursday. This result, which does not include investments, had previously been negative since 2014.

The positive development is explained by the additional 2 billion francs from the tax reform and the financing of the AVS (RFFA) accepted by the people in May 2019. The contributions of insured persons and employers to the insurance have increased by 5%.


In billions of francs, the additional income of the AVS from the RFFA.

The operating result of the AVS ultimately amounted to 2.6 billion in 2021 against 1.9 billion the previous year. The investments of the AVS Compensation Fund brought in 1.6 billion francs. A positive result achieved in the context of a strong national and international economic recovery, notes compenswiss.

Insufficient performance

Disability insurance, on the other hand, experienced a different situation. It closes again with an operating loss. The latter, which amounts to 207 million francs, is however lower than in 2020 (-267 million). The distribution result is also in the red at -366 million francs. The return on investments, of 159 million, did not compensate for the loss.

On the APG side, the distribution result improved, with a profit of 165 million (134 million in 2020). Operating income amounted to 231 million, boosted by a good performance of financial investments of 66 million francs.

At the end of last year, the cumulative wealth of the AVS/AI/APG compensation funds was 40.9 billion francs against 38.6 billion in 2020. The share of the AVS stood at 35.9 billion, that of the AI ​​at 3.6 billion and that of the APG scheme at 1.4 billion.

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