Old-Age and Survivors' Insurance (OASI resp. AHV)
Different so-called pillars are covering provision for retirement, disability and death: The 1st pillar is the state prevention known as OASI (AHV in German); the 2nd pillar is the occupational retirement scheme. The 3rd pillar consists in personal savings and is supported by tax-incentives. For more information about the Swiss social system including information for members of states Switzerland has no social security agreements signed with, see the link suggested below (Related links).
The OASI-insurance as basic compulsory insurance should be highlighted in the following paragraph.
The first time an employee takes up employment in Switzerland, a social insurance number is created automatically when the employer submits an application. The employee then receives what is known as an AHV card (old-age and survivors' insurance card). This AHV number must always be specified when changing employers to account for the employee's AHV entitlements. Finally, it is also important for claiming pension benefits.
Mandatory OASI-contributions for non-working Students
Students domiciled in Switzerland are required to pay the compulsory AHV contributions from 1st January of the year in which they reach the age of 21. Students are obliged to pay minimum annual contributions of CHF 480.- (2013). In spring, all student and docotral candiates matriculated at the University of Basel receive a from from the Basel-Stadt Compensation Fund Office to provide financial detauls on the past calender year. Find more context at the very bottom in the info-box.