does anyone have experience of the Fz konto at Postfinance.ch?

Thanks!

I just moved my pension fund balance due to redundancy to the Post Finance.

Simple and quick. 2% fixed int offered. Option to invest 25% or 45% in equity funds, which I have chosen to forgo for the moment, but will look into if the market corrects significantly.

excellent dino - have you split your Fz or is it one pot? Can you switch to equity funds without penalty?

I did not split my Fz.. frankly at the time I made the move, I was not aware either of this possibility or of the benefits of splitting.

Anyone know if I can split now, or can that only be done at the time of opening the Fz?

I was told that moving into and out of equity funds is quick and free ("as long as you don't want to switch every week", my adviser told me in a very stern Deutsch accent). However, he also told me that the funds were no-cost, which I did not frankly believe, and later found that statement to be untrue. (the expense ratio is about 0.8% - see here)

Split only possible when pension plan pays out to Fz. Existing Fz cannot be split. Otherwise, people would go on splitting endlessly!

PF is a good Fz choice. I can confirm Dino's input.

Note however, that PF outsources Fz to the "Rendita Trust". That is a CS subsidiary. Hence, the PF fz does not benefit from unlimited CH state guarantee.

hello, I'm late to this thread - but didn't want to start a new thread elsewhere in EF, as my query is about my Swiss spouse's Freizuegigkeitskonto.

Basically she has worked in Switzerland in various jobs and then relocated to UK (EU country) some 8 years ago before moving onto an non-EU country (Australia). She can't remember where her pension contributions have ended up. After reading this EF thread and a few others on the EF.CH boards, would I be correct in ascertaining that she has only to ask her last Swiss employer for the company / fund name of her Freizuegigkeitskonto account? No need to approach all of her Swiss employers?

Down under in Australia, it is quite easy for people to trace their "lost" pension contributions (we call it superannuation here) - purely by entering their tax file numbers and a few other details at http://unclaimedsuper.com.au/. Is there a similar website or organisation in Switzerland that long-departed employers can trace their lost AHV & BVG (pillars 1 & 2) contributions as well as their employers' contributions?

She just wants to re-establish her Swiss pension contributions' paperwork and then leave it until she reaches her pension age whether down under or back in Switzerland.

Danke! A

Oops, I stand corrected (that Aussie website - no tax identification details needed, just name & birth date).
Nevertheless I'm still keen to find out as I did try freizuegigkeitskonto as a CH website URL search only to end up at a private company's website, so that's no use to us.

Pillar-1
State pension. You Contact any Swiss AHV office. They are all networked.

Pillar-2
A person can have more than one Freizugifkeitskonto. Officially permitted is 2 but this is not coordinated among the Banks. Each Bank protects the secrecy of its customers and accounts. If the employee does not open a FZ account and inform the employer, then the employer sends the vested benefits to the Auffangeinrichtung BVG http://www.aeis.ch/index.php?id=ueberuns&L=4

Non existent data security! All you need is someone's birth date and discover their Australian pension?

Goldtop,

many thanks for your replies - my wife is now ready to track down her AHV & BVG monies to get her contact details updated.

As for that lost-super website, well yes "not that great data security". However you don't find anything IF the "holder" has kept their details updated after leaving last AU job. It is there for people who lost their pension contributions and even so, you can't just take the money - it tells you where the monies are now and how to lodge formal paperwork (with ID proof). Very useful when you got a forgetful elderly relative (not my spouse!) and trying to organise their overdue AU pension payments...

Danke once again, A

I am leaving the country for a few years and I am thinking to go Postfinance.
The rate of 1.75% is one of the best I found, and they don't seem to have any extra expenses:
Any reason not to choose them?


They also offer the option to combine this vested account with pension funds but that would be too complicated for me.

Dear experts

I am starting a new job now. Do I have to transfer my pensions to the new employer or can I transfer it to the bank. Also does it look strange if I not transfer it to the new employer? At what point does the employer need to know my former pension name and what option I choose?

Thanks,
Sahasrara

It depends on your new employer, but most employment contracts require that you transfer previous contributes to the new fund. Unless you are joining a company with a really bad pension fund, I'm sure that there is much advantage to keeping it in a blocked account...

You are obliged to transfer your pension to the new employer - by law.

Can you give me a reference for that?

I **think** you will only be obliged to transfer the obligatory contributions. Any contributions in excess of that made by your employer or yourself can be kept in a Freizugikeitskonto.

This information is based on advice I had from Migros to transfer my funds IN as two separate payments as it made it possible to get the obligatorische part back out without distrubing the nicht-obligatorische funds.

Bundesgesetz über die Freizügigkeit in der beruflichen Alters—, Hinterlassenen- und Invalidenvorsorge (Freizügigkeitsgesetz, FZG)
Art. 3 Abs. 1 Übertragung an die neue Vorsorgeeinrichtung: Treten Versicherte in eine neue Vorsorgeeinrichtung ein, so hat die frühere Vorsorgeeinrichtung die Austrittsleistung an die neue zu überweisen.

I have not found the official English translation, sorry.

Hello All,
I am Non EU. Last year I have changed my Job in Switzerland.
There was a gap in joining my new company and thereby my old company has opened a Freizuegigkeitskonto( 1) for me to transfer my Pension funds.

Last year only I received a letter from Freizuegigkeitskonto company which opened Freizuegigkeitskonto(1) for me stating about the amount they received from my Pension company(X).

I was quiet shocked to see the less amount they transferred to Freizuegigkeitskonto(1) in comparison to what me and my company has paid every month from my salary.

I contacted my company HR about it and found that based upon certain age the Pension amount get deducted with some percentage thats why I received less money in Freizuegigkeitskonto(1).

My new company has Pension account with other company(2) and they have transferred my money from Freizuegigkeitskonto (1)to new Pension account(2)

Now my contract with new company is getting over and again I believe I have to get my funds transferred from Pension company(2) to Freizuegigkeitskonto .

My Questions are :

1.) Did my old Freizuegigkeitskonto(1) gets closed automatically once funds got transferred to new Pension Company(2)?

2.) I have not received any statement of deductions from Previous Pension Company (1), Shall I ask for the same and can i use it for my Tax declarations?

3.) Will my New Pension Company(2) will again deduct some amount while transferring to Freizuegigkeitskonto?? If Yes will it be based on the total amount in Pension fund( Old Pension Money(X) + new additions from new employment( myself and employer)) or only from additional part from new employment??

4.) Do I need to open a new Freizuegigkeitskonto myself or can it be redirected to old Freizuegigkeitskonto(1)?

5.) Interest we receive in Pension fund & Freizuegigkeitskonto is Taxable??
I mean should I declare it while filling my Tax returns?

Thanks so much for your expert guidance.
Best Regards.

The explanation from your former employer doesnt quite make sense, assuming the pension fund was a defined contribution type scheme. What you save is what you save and there should be no deduction for age. However, not all of your contributions go into saving, as employers often make you contribute to the insurance components of the fund such as death in service benefits. You should have received regular statements from your employer showing the total amounts

1. Yes.
2. Your annually salary statement already shows your deductions in the total "Netto Lohn II" so you dont need the statement for the mentioned reason.
3. No, see above.
4. New account. Either you open your own and instruct the former employer to make the transfer, or after six months the employer opens one on your behalf. Normally (but not always) employers pay more interest on the savings than a bank will.
5. No, you can basically ignore 2nd pillar pension fund in your tax return

Dan