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<!-- #BeginEditable "jour_1" --><!-- #EndEditable -->                                         </font> </div>                                     </td>                                   </tr>                                 </table>                               </td>                             </tr>                             <tr valign="top">                               <td height="10"><img src="/bilan/inter/black_point.gif" width="433" height="1" align="top"></td>                             </tr>                             <tr valign="top">                               <td><!-- #BeginEditable "news_1" -->  							  <table width="100%" border="0" cellspacing="0" cellpadding="0"> 								<tr>  								  <td valign="top" colspan="2"> <img src="/bilan/dossier/img/piler2_ouverture.gif" width="430" height="142"></td> 								</tr> 							  </table> 							  <p align="justify"><font color="#CC171B" size="2" face="Arial, Helvetica, sans-serif">On croyait le deuxi&egrave;me pilier helv&eacute;tique solide comme le roc. Trois ann&eacute;es de d&eacute;prime boursi&egrave;re carabin&eacute;e ont provoqu&eacute; de profondes l&eacute;zardes. Du coup, le doute, voire l&#8217;inqui&eacute;tude se sont infiltr&eacute;s dans l&#8217;esprit des employ&eacute;s, bien s&ucirc;r, mais aussi des patrons. La crise actuelle est-elle une secousse limit&eacute;e ou un tremblement de terre d&#8217;amplitude inconnue? Les r&eacute;ponses de Bilan.</font></p> 							  <p align="left"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"><strong>Dossier</strong>  								<a href="mailto:jrf@edipresse.ch">Jean-Rapha&euml;l  								Fontannaz</a><br> 								<b>Dessins</b> Pierre Wazem</font><hr width="100%" size="1" noshade> 								<p align="justify"><font color="#000000" size="2" face="Arial, Helvetica, sans-serif"> 								<img src="/bilan/dossier/img/dessin_ouverture_sat.jpg" width="243" height="197" border="1" align="left"><img src="/bilan/inter/d.gif" alt="d" width="20" height="31" align="left">epuis sa cr&eacute;ation et son instauration obligatoire, le syst&egrave;me de retraites helv&eacute;tique a fait la fiert&eacute; du pays: une construction massive, loin des &eacute;chafaudages brinquebalants &agrave; l&#8217;am&eacute;ricaine ou des ensembles collectivistes &agrave; la fran&ccedil;aise. Pourtant, pour la premi&egrave;re fois, le mod&egrave;le d&eacute;fini par la Loi f&eacute;d&eacute;rale sur la pr&eacute;voyance professionnelle (LPP) conna&icirc;t la crise. Et elle est brutale.<br> 								&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Le coup de semonce n&#8217;en est que plus rude. Pendant des ann&eacute;es, les salari&eacute;s suisses ont v&eacute;cu avec la confiance intuitive partag&eacute;e que leurs vieux jours &eacute;taient assur&eacute;s et bien assur&eacute;s. Qui, au terme d&#8217;un entretien d&#8217;engagement, n&#8217;a pas entendu son futur directeur des ressources humaines marteler, d&#8217;un ton patelin mais ferme: &laquo;Et, en plus, vous pourrez b&eacute;n&eacute;ficier de notre excellente caisse de pension!&raquo; Le coup d&#8217;estoc final du camelot devenait l&#8217;argument d&eacute;cisif de l&#8217;employeur. <br> 								&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apr&egrave;s le lobby intense des assurances pour obtenir du Conseil f&eacute;d&eacute;ral la baisse du taux minimum d&#8217;int&eacute;r&ecirc;t sur les avoirs de vieillesse (de 4% &agrave; 3,25%), apr&egrave;s les annonces h&eacute;t&eacute;roclites d&#8217;institutions en sous-couverture, actifs et rentiers, patrons et employ&eacute;s peuvent l&eacute;gitimement se demander: &laquo;Mais que vaut aujourd&#8217;hui ma caisse de pension?&raquo; Le probl&egrave;me n&#8217;est d&#8217;ailleurs pas seulement helv&eacute;tique: sur le plan mondial, le consultant Watson Wyatt a chiffr&eacute; &agrave; 3375 milliards de francs le trou qui s&#8217;est creus&eacute; en 2002 dans le bilan des institutions de pr&eacute;voyance (IP). Soit un cinqui&egrave;me de leurs avoirs. En Suisse, ce d&eacute;couvert est &eacute;valu&eacute;, tr&egrave;s approximativement, entre 20 et 40 milliards de francs.<br> 								&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Doit-on simplement s&#8217;inqui&eacute;ter? Ou faut-il plut&ocirc;t paniquer? Bilan essaie d&#8217;apporter un peu de lumi&egrave;re dans la complexit&eacute; du syst&egrave;me &agrave; l&#8217;heure o&ugrave; les Chambres f&eacute;d&eacute;rales d&eacute;battent de sa premi&egrave;re r&eacute;vision.<img src="http://www.virtua.ch/tools/stats/phptracker.php?pg=dossier_2eme_pilier_ouverture&extention=.gif" border=0 width="10" height="10"></font></p> 								<table width="100%" border="0" cellspacing="0" cellpadding="0" align="center">                                 		<tr>                                 				<td align="left">&nbsp;</td>                                 				<td align="right"><a href="/bilan/dossier/avril_03_pilier-2_9_criteres.html"><img src="/bilan/inter/next.gif" width="109" height="19" border="0"></a></td>                    				  </tr>                                 		</table> 						      </div> 							  <!-- #EndEditable --></td>                             </tr>                           </table>                           <br> 						<p>&nbsp;</p>                         </td>                       </tr>                     </table>                   </td>                 </tr>               </table>             </td>           </tr>         </table>       </td>     </tr>     <tr valign="top">       <td>         <table width="604" border="0" cellspacing="0" cellpadding="0" align="left">           <tr>             <td width="0">&nbsp;</td>             <td width="604" valign="top"><font face="Arial, Helvetica, sans-serif" size="1"><b>               <a href="http://www.edicom.ch">Edicom</a>               - <a href="http://www.edipresse.com">Edipresse               Publications s.a. </a></b></font></td>           </tr>         </table>       </td>     </tr>   </table> <script language="JavaScript"> <!-- document.write ('<layer SRC="http://ad.doubleclick.net/adl/bilan1.ch/solde;sz=468x60;ord=' + ordval + '?" visibility="hidden" width=468 height=60 onload="moveToAbsolute(layer2.pageX,layer2.pageY);clip.height=60;clip.width=468;visibility=\'show\';"></layer>'); document.write ('<layer SRC="http://ad.doubleclick.net/adl/bilan1.ch/solde;sz=120x60;ord=' + ordval + '?" visibility="hidden" width=120 height=60 onload="moveToAbsolute(layer1.pageX,layer1.pageY);clip.height=60;clip.width=120;visibility=\'show\';"></layer>'); //--> </script>    </body> <!-- #EndTemplate --></html> 
