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Old 03.01.2011, 14:46
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Using Kanton Schwyz to reduce pension withholding tax


I'm leaving Switzerland in a few months and will be transferring my second pillar pension pot back home. I'm in Zurich, what I've been told by some knowledgeable people is that if I first transfer the money to a blocked account in Kanton Schwyz, then transfer it to Canada I'll save a decent amount on the withholding tax that the Swiss will charge.

If I go here it does confirm that the withholding tax is 8.3% in Zurich, and only 4.8% in Schwyz. It also looks like Pensionkasse pro can set up such a short term account (here).

In general though I'm not sure if I want to wait an extra say 3 - 6 months to move the money out through Schwyz even to save the tax. Does anyone have any first or second hand experience with this method? Were there hiccups when moving the funds through two steps? I can only assume that the Pensionskasse pro would want to charge a modest fee to make up for the taxes I'd be saving, is it still worth it then?

Thanks for any feedback!
We actually don't keep track of that record... You need to call the European fecal standards and measuremments office in Zürich, their number is listed on thier website
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