Before the introduction of the OASI
Until the 20th century, care for the incapacitated and elderly was largely the responsibility of family members, charitable organisations and the church. In addition, there was a rudimentary and often restrictive public welfare for the poor.
1925: Constitutional basis for the OASI
The constitutional basis for the OASI was created in 1925.
1940: Income Compensation Insurance for Militia Soldiers
The Federal Council created the Income Compensation Insurance for soldiers – today’s loss of earnings compensation scheme – which became a model for the OASI in terms of organisation and financing.
1948: Creation of the OASI and the OASI social security fund
The Federal Act on Old-Age and Survivors’ Insurance was approved by the people on 6 July 1947 and came into force on 1 January 1948. At the same time, the OASI social security fund was established.
1953: Creation of the LEC social security fund
The LEC social security fund was created in 1953 as part of the OASI social security fund.
1960: Creation of the InvI and the InvI social security fund
The Federal Act on Invalidity Insurance was adopted in 1959 after an extraordinarily short preparation period. The InvI was introduced in 1960, and at the same time, the InvI social security fund was created as part of the OASI social security fund.
1996: Ordinance on the Administration of the OASI/InvI/LEC Social Security Funds
On 2 December 1996, the Federal Council adopted the Ordinance on the Administration of the Social Security Funds for Old-Age and Survivors’ Insurance, Invalidity Insurance and Income Compensation. The Ordinance governed the joint administration of the three independent social security funds for the OASI, InvI and LEC.
2011: Split into three legally independent funds for OASI, InvI and LEC
With the entry into force of the Federal Act of 13 June 2008 on the reorganization of the InvI in 2011, the OASI, InvI and LEC social security funds have become legally independent social security funds under joint administration.
2019: Creation of the institution compenswiss
The Federal Act on the Institution for the Administration of the Swiss Federal Social Security Funds AHV, IV and EO (Social Security Funds Act) of 16 June 2017 gave rise to compenswiss, an independent public law institution of the Confederation. At the same time, the three social security funds OASI, InvI and LEC lost their legal personality. The assets and liabilities of the three funds were automatically transferred to the new institution on 1 January 2019.