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Old 27.11.2011, 18:13
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Unemployed - what do do with 2nd pillar?

Now that I'm unemployed it seems that I need to open a bank account to hold my second pillar savings. Has anyone any experience with this or any tips on what I should do? I am still living in Switzerland and hope to find another job here.
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Old 27.11.2011, 20:08
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Re: Unemployed - what do do with 2nd pillar?

I think you have to transfer the fund to a Freizügigkeitskonto which is offered in many banks. So far I heard it is better to transfer into two if you have a large fund as in case of withdrawal you can compensate the higher tax rate on higher amount of money here in Switzerland. (e.g. you will pay more tax on 100k CHF from one account compared to two 50k CHF account).

And in case you decided to leave the country and cash it out, I heard people usually transfer it to a bank with registration in low-tax canton like Schwyz or Zug in order to profit from low witholding tax.

I have never done it before and hope someone here will help you.
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Old 27.11.2011, 20:27
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Re: Unemployed - what do do with 2nd pillar?

I have a similar question in that I am moving back to the US do I need to transfer this 2nd pillar to a retirement account in the US?
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