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Old 30.05.2014, 19:26
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How much would someone need to retire in Switzerland?

If somebody was planning to retire to Switzerland from another country, what is the minimum sum of money that they could do this with?

Obviously, someone couldn't just buy a property without any checks of their finances. They wouldn't get a permit without employment but money can get you just about anything.

It doesn't seem to be a problem if you are a multi-millionaire celebrity. Just curious what the lower limit is.
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Old 30.05.2014, 19:32
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Re: How much would someone need to retire in Switzerland?

I don't think there is an official limit. I'd say it really is a question of location, location, location. On a UK pension, it would be very difficult to retire in Geneva or Zurich, due to high rental costs. Depends also on your expectations- would you be happy to live in an older flat, away from those big towns and the lakes? Do you want a posh car? Eat out all the time, buy foreign foods rather than adapt to local products in season, etc, etc.

Remember also that when you are of retirement age from UK (65 and over) you won't need to have health insurance here, as due to bilateral agreements, your tab (with a 300CF franchise and 10% paid by yourself) the UK gvt will be picking up the bills.

Some areas have much lower taxes than others- so if you have a large pension and lots of dosh, aim there. But these areas also have the highest rental costs, etc. So if you are not rich with a massive pension, than it is much better to aim for higher tax areas, like here in the Neuchatel Jura or the Jura- but very low cost for rents and other stuff- and with the proximity of France for shopping and meals out, etc.

Last edited by Odile; 30.05.2014 at 19:43.
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Old 30.05.2014, 19:46
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Re: How much would someone need to retire in Switzerland?

You have a first answer here https://www.ch.ch/en/retirement-or-study-switzerland/

Foreign nationals without gainful employment

Switzerland’s migration policy makes a clear distinction: On the one hand, the Agreement on the Free Movement of Persons makes it much easier for EU and EFTA citizens to enter and stay in Switzerland. However, conditions are more restrictive for third-country nationals.

EU/EFTA nationals
Persons who are not gainfully employed (e.g. retirees and students) may remain in Switzerland if the following conditions are met:

They have adequate financial resources to cover the cost of living in Switzerland so as to ensure that they will not become dependent on welfare benefits, and
They have a health insurance policy that also includes accident coverage.
Students must also show the letter confirming that they have been admitted to a recognised educational institution (confirmation of enrolment).

Stays of up to 90 days within a six-month period do not require authorisation. For longer stays, foreign nationals have to register with the cantonal migration office as a non-employed person. The corresponding EU/EFTA residence permit will remain valid for a period of five years (for students, the permit will remain valid for the duration of education and training or will remain valid for one year and be renewed at one-year intervals). These residence permits will be renewed automatically as long as the abovementioned criteria are still met.



add : now I don't now how will be the impact of the the mass immigration initiative on this kind of thing.


Are you planning something ?
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Old 30.05.2014, 20:03
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Re: How much would someone need to retire in Switzerland?

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Just curious what the lower limit is.
A LOT!!!

Lets assume a base need of a mere 3000 a month for all expenses (500 medical, 1500 rent (if you are lucky), and 1000 for food and bills).

Assume a retirement age of 65 and death around 85. Just roughly speaking...that would require an annuity of about 750,000.

Rough numbers...but certainly in ball park.
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Old 30.05.2014, 20:07
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Re: How much would someone need to retire in Switzerland?

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A LOT!!!

Lets assume a base need of a mere 3000 a month for all expenses (500 medical, 1500 rent (if you are lucky), and 1000 for food and bills).

Assume a retirement age of 65 and death around 85. Just roughly speaking...that would require an annuity of about 750,000.

Rough numbers...but certainly in ball park.
Thats actually not a lot
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Old 30.05.2014, 20:09
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Re: How much would someone need to retire in Switzerland?

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Thats actually not a lot
I know.

The straight face test would more likely accept 1.25 to 1.5 million.
But i might have missed the wording of the original question...of which upon review I must say, I've no idea what the lower limit is.
Perhaps proving that you can live at market value for 30 years is what is required. Hence my quick review of semi-structured annuities.
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Old 30.05.2014, 20:12
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Re: How much would someone need to retire in Switzerland?

Read again- uk retirees do not need medical or accident insurance in CH. And there are areas, as here for instance, where you can get great appartments for a very low rent. He would be able to get a 3 roomed appartment for less than 1000- and a studio or 2 room for even less of course. In a rural area he could even get a veggie plot to grow his own- just depends on his expectations. Of course this won't happen near Geneva or Zurich or on any lake riviera.

Just looked, studio 380, 2 room in small nice low rise block in quiet area, near station, 680. etc.
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Old 30.05.2014, 20:17
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Re: How much would someone need to retire in Switzerland?

Quote:
Read again- uk retirees do not need medical or accident insurance in CH. And there are areas, as here for instance, where you can get great appartments for a very low rent. He would be able to get a 3 roomed appartment for less than 1000- and a studio or 2 room for even less of course. In a rural area he could even get a veggie plot to grow his own- just depends on his expectations. Of course this won't happen near Geneva or Zurich or on any lake riviera.
I wasn't thinking of me by the way, nice as the idea would be

I was just curious if there was a limit or checks before someone moved in
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Old 30.05.2014, 20:25
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Re: How much would someone need to retire in Switzerland?

Ah well, no poin in offering to host you whilst you look around then
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Old 30.05.2014, 20:26
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Re: How much would someone need to retire in Switzerland?

I think it's quite doable on 25k a year, probably less so if you had capital of 250k invested in equities I think you would be very welcome along with a UK OAP which will shortly rise to £150 a week, anyone with higher earnings will get rather more.
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Old 30.05.2014, 21:54
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Re: How much would someone need to retire in Switzerland?

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Ah well, no poin in offering to host you whilst you look around then
Not unless I get a big win on the lottery or something
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Old 30.05.2014, 21:56
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Re: How much would someone need to retire in Switzerland?

Well, not necessarily- re-read my posts, honestly.
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Old 30.05.2014, 22:05
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Re: How much would someone need to retire in Switzerland?

Are Suisse Romand and I the only ones who think that the OP's question is "how much capital does one need to 'buy' one's way into retirement in Switzerland" -- not "what's the minimum annual income required to live in Switzerland"?

I don't know the answer to the former, by the way. As a working resident of Switzerland, I'm not eligible to 'purchase' residency (and pay negligible tax) as a retired F1 driver or rock star can.
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Old 30.05.2014, 22:30
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Re: How much would someone need to retire in Switzerland?

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Are Suisse Romand and I the only ones who think that the OP's question is "how much capital does one need to 'buy' one's way into retirement in Switzerland" -- not "what's the minimum annual income required to live in Switzerland"?
The price of an entry ticket depends on whether one is EU or non-EU (at least for now). For an EU citizen "what's the minimum annual income required to live in Switzerland?" is likely a valid question. For a non-EU citizen the question is indeed "how much capital does one need to 'buy' one's way into retirement in Switzerland?".

(And as an FYI, I know of one non-EU person whose 7 figure bank account was deemed insufficient. But I assume that, like all things in Switzerland, varies by the canton, Gemeinde, phase of the moon.)

But the price of the entry ticket aside...

To retire here, one should figure a worst case scenario - which would likely be (at current prices) 10-15K per person per month for the 'eldercare' years. Hopefully one will be healthy and active for most of one's retirement - but the reality is that there will be some period of great expense.

If one has not lived and paid taxes in Switzerland, one might not be eligible for a place in the Gemeinde Altersheim, so a foreign retiree should budget for private care. And even if one is alloted a place in the Gemeinde home, the rates charged may depend on citizenship or permit type, and number of years residence.

The financial help available to Swiss citizens whose assets have run out might not be available to those who moved here in retirement, as often a condition of the visa is that one can demonstrate that public support will never be needed. (At least for a non-EU person)

But leaving eldercare years aside - how much do you think your life will change after retirement? If anything many people spend more, as they want to travel, to indulge in activities they never had time for before.

Our take on retirement planning - we plan for our current expenses for 20 years, plus 5 years of eldercare expenses. And re-evaluate as the markets wobble.

Then whatever is left goes to charity.
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Old 30.05.2014, 22:42
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Re: How much would someone need to retire in Switzerland?

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Are Suisse Romand and I the only ones who think that the OP's question is "how much capital does one need to 'buy' one's way into retirement in Switzerland" -- not "what's the minimum annual income required to live in Switzerland"?

I don't know the answer to the former, by the way. As a working resident of Switzerland, I'm not eligible to 'purchase' residency (and pay negligible tax) as a retired F1 driver or rock star can.
Yes, I did mean how much to buy your way in.
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Old 30.05.2014, 23:28
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Re: How much would someone need to retire in Switzerland?

Well, at least in Switzerland there is an alternative to unterminable elder care, thank goodness

We intend to be cared for in our own home, much much cheaper than an OAP home- then EXIT when enough is enough.

Although as Swiss citizens, the state leaves you with about 30.000 to pass on to your kids per person, then picks up the tab for your OAP care, but only if Swiss. EXIT is available for all resident here, irrespective of nationality. A great relief and insurance, just in case.
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Old 31.05.2014, 02:41
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Re: How much would someone need to retire in Switzerland?

Swiss citizens with insufficient funds for retirement receive state help up to Fr 3'000 per month.
Also foreigners 'C' permit, living here continuously 10 years. This has to cover medical, rent, food, taxes, transport.

So your friend would probably be asked to show he has this income available. No free capital considered in the calculation

http://www.pro-senectute.ch/ergaenzu...erechnung.html

For 8060 Zurich, an example for a single person,
with two Fr 1'000 pensions = Fr 2'000
apartment rental of Fr 1'000 per month inclusive heating etc
health insurance of Fr 4'729

Annual income in CHF
AHV-/IV- all state pensions (100%) 12'000
Other income (70%)
0 (other income, first 30% not considered)
Weitere Renten
12'000 (All other pensions
Capital 0 (If there is capital, eg a house, it would be added here)
Freibetrag -37'500 (The first Fr 37'500 capital is not considered in the calculation)
Zur Berechnung verwendet
0 (Amount of capital considered in the calculation)

Annual expenses in CHF
Living expenses, 19'210 (Food, electricity, transport, savings, subscription to exit, etc)
Rental (incl. supplemental),
12'000
Health insurance Zurich,
4'729
O
ther income from family etc, 0
Income from capital, 0

Total income
24'000
Total expenses 35'939
Difference
-11'939 paid out per year, /12 (~ Fr 1'000 monthly)

So you can see the minimum income considered necessary is around Fr 3'000 per month.
The maximum amount allowed for rental and health insurance varies with the cantons.

.

Last edited by Sbrinz; 31.05.2014 at 03:09.
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Old 31.05.2014, 19:52
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Re: How much would someone need to retire in Switzerland?

Minimum 5000 CHF a month assuming 2000 for a flat.Leaves you 3000.
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Old 31.05.2014, 19:55
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Re: How much would someone need to retire in Switzerland?

IN ZURICH OR GENEVA NOT IN 'SWITZERLAND' AND NO HEALTH INSURANCE FOR RETIREES FROM UK.

Sorry for shouting, but, really Why give a Zurich example with a rent of 2000??? Here you could rent a mansion for that money. There are other places to live apart from Zurich and Geneva or some riviera or other.

Just looked again- the most expensive I can see around here is a huge 5 room appartment, completely renovated with ultra modern kitchen and bathroom, balcony, overlooking lovely garden and mountains, quite situation but in centre of large village, 1 min from station- 1720 all in. A retired person would not need that much space perhaps?

So start calculations again on 1000 max for a really nice apartment with a couple of spare rooms for guests, or a nice 1 bedroom flat for about 600, or 2 bed for about 700 and NO health insurance.

Last edited by Odile; 31.05.2014 at 20:35.
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Old 31.05.2014, 19:57
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Re: How much would someone need to retire in Switzerland?

You are deluded! Home care is unaffordable for most people.Unless you are a Federer or similar.
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Well, at least in Switzerland there is an alternative to unterminable elder care, thank goodness

We intend to be cared for in our own home, much much cheaper than an OAP home- then EXIT when enough is enough.

Although as Swiss citizens, the state leaves you with about 30.000 to pass on to your kids per person, then picks up the tab for your OAP care, but only if Swiss. EXIT is available for all resident here, irrespective of nationality. A great relief and insurance, just in case.
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