Hi all,
Sorry for the amount of posts today. I've read a couple of threads about cashing in pensions but can't find one for returning to the UK. I spoke to my pension fund and they said I have to apply to the zentralstelle who will then contact the British government to see if it's OK to pay my pension contributions to me in cash.

Has anyone done this? It looks like a long process which I'd rather not begin if it's going to end in 40% tax to Mr Cameron. I want to invest the cash amount in property. It's about 16k francs according to the statement I've just received.

Any help greatly appreciated.

If you become 100% self employed whilst still in CH you can take it as cash.
In theory you can use it for a house purchase in the UK, I am not sure how that might be taxed in the UK as it's unusual in UK tax terms.

maybe it would be best to realise it as cash here in switzerland and then bring back as cash rather than cashing in to the UK.

Hmm sounds like a plan. However I'm currently working part time as a teacher so self employed may not be an option. I suppose I could ask if they'd pay me in cash then promise that I'd leave shortly after.

I just spoke to the zentralstelle again on the phone. They say there's a form to fill in if I am leaving the country but they need to contact the British government.

Just become 100% self employed, then fill in the form, get cash & leave CH. It probably takes a month.

I will probably do the same thing, seems the best way.

Yeah seems that may well be the way to go. I am currently PT teaching which is topped up by the Chomage so I suppose I'd have to resign my job after they make a payment. Live on one month's salary and hope the money came through quickly.

It used to be the case that you could cash in your Swiss pension contributions and take home a wad with you. But I'm pretty sure that for the last few years you've only been able to transfer it to another pension fund. (Within the EEA).

Yeah to be quite honest I'm not that confident. Seems too good to be true. Perhaps when I am 65 I may end up glad that I was unable to access it at the time


Edit Seems there's more threads on this and it's complicated. I googled it and found the threads through that way. I am trying to access the second pillar. However the second pillar has two parts and I want to access both if possible. To try keep it as simple as possible there only seems to be two possible ways I may be able to. One be self employed or two, use it to buy my house in the UK. Will post if I get anywhere with it.

Finding more about the self employed route. Check out the top of page 7 on this document.

http://www.igpinfo.com/igpinfo/publi...witzerland.pdf



but seems you need a C permit to get it when I only have a B

(see bottom of this document) http://www.vaud.ch/en/our-services/e...lf-employment/

You need a C if from a third country (Non-EU/EEA). If you are EU/EEA an L or B permit suffices provided it has EG/EU on it.

Well after spending a few more weeks on this pension access issue I have decided on the following. Both my pension companies assure me that if I buy a house in the UK then they will release my pension (provided it's my primary residence, which it will be). Therefore I have enough of a deposit with this and my savings to buy quite a nice house in old Blighty and return to be with family

Last hurdle is to find a teaching job in the UK so I can get a mortgage. Will probably use the supply route to find my way home. When I've bought a house I'll post to show it can hopefully be done

Hmm update again. Turns out that now I am about to ask for it, my new pension company is unsure if they can release my second pillar to buy a house in the UK. They are looking into it. They say I can only access my second pillar WHILST I am working in CH. So therefore it's hard to justify that my primary residence would be in the UK. I'm now looking at trying to transfer my pension back to Zurich who still assure me that they can release it.

So just a word of warning. Be sure to clear well in advance with your pension company that they'll release funds AFTER you've left the country to buy a primary residence outside CH. If not then find a pension company who will.

Will continue to update peeps on my battle.