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Old 20.08.2013, 17:15
HS983 HS983 is offline
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Re: Bye-bye all BVG retirement payments? :(

"Due to the bilateral agreements of EU with Switzerland we have this defined in the Swiss law. USA or other Non-EU countries have other procedures.
If you leave Novartis permanently, your vested benefits will fall due for payment. If you are leaving Switzerland permanently and moving to an EU Member State, you must complete Form B and return it to us with the necessary enclosures mentioned in the form. The non-compulsory part of your vested benefits may be paid out in cash when you leave. The compulsory part of your vested benefits (BVG part) must be transferred to a vested benefits account with a bank or a vested benefits policy with an insurance company (by law). The compulsory part of the money cannot be transferred on your private bank in Switzerland."
An interesting read. It's not that I'm aggresively trying to protest this arrangement, but simply trying to understand why it is this way and making absolutely sure I'm not able to get this money back for the UK. That's all.
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