OK, fair enough. I'm surprised but that's good news. I presume that the cash payment included employer contributions? i.e. that you actually got back more than you paid in?

It's a pretty simple google away and on the UBS website even so not sure why you're surprised.

https://www.ubs.com/ch/en/swissbank/...mmigrants.html

I've only had the nonmandatory part so far and applied to LOB for the other part, but I'm not as hopeful as FMF that I will get that.

Fair comment, and I always do my research but I'm keen to get personal experiences on this rather than just what the rules may say, as there are often hidden complexities.

Other forum member leaving for the UK have received cash, which is why I investigated this further
Yes the full amount invested, not the full payments as a huge amount of insurance is required in CH by law. This insurance is not requires in the UK which is why a payout is possible.

This. It was always clear to me that the non compulsory part is transferable. Im surprised at the OPs experience he got 100% of the second pillar vested benefits. You annual pensions certificate is very explicit on the split. Good luck to him if he did.

Yes 100%, despite being told by the pension company (well 2 of them as I had 2 pillar 2's which is unusual but not impossible) it's impossible.

It's down to the question is compulsory insurance required, nothing else.

Thanks for sharing this
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Do you perhaps know if compulsory insurance is required in France? My favourite country for retraite

I suspect not as their is a special form for France on the home page of the link I shared in the first post.

Thanks for this thread. As with most people, I've been told by my employment agency and Swiss Life that I couldn't take the money as cash.

I've sent off the LOB form so waiting for that before proceeding.

I have a few questions:
1. Can the non mandatory part be claimed now or do I have to wait for the LOB decision? My understanding is that the non mandatory part can be paid out now regardless of that.

2. They've asked for a "certified signature by local authority or notary's office". What have people done for this? Just a certified signature on the back of a piece of paper? Swiss Life mentioned a HAYA stamp.

3. My employment agency paid 600chf into my pension each month. However, it seems only about 500chf per month actually went into my pension. The agency claim the missing amount is for Swiss Life's risk charges and fees. Has anybody else had this?

4. Swiss Life said that any money I take out of the pension will be subject to 20% tax. This seems high to me as I paid less than this month to month. Anybody else have dealings with this?

Non mandatory can be taken when you like, watch conditions as there may be a fee to do this possibly 500 chf, same fee for paying out in full.

I gave my pension provider my passport & they made a certified copy, they were happy with the signature in the passport,

Mandatory insurance will be at least 100chf a month, amazed its as low as that.

I paid under 6% tax on @ 180,000, pension was held in GE, I could have paid 1/3 less tax had I moved the fund, but then my company was not being an arse on accepting I was not married at the time. Transferring could waste several months, my investments did better than saving tax & waiting a month.

Just to confirm that I wasn't entitled to my mandatory part of my pillar 2.

I moved to the UK. Got the job-mandatory part with minimal hassle

It does seem that since the UK has introduced the 'workplace pension', for employees that unfortunately correct. It's been a very recent change as I know someone who cashed out under 3 years ago.
If you were unemployed I suspect you could get it.

This was before the workplace pension scheme rules were changed. Also it's mandatory to offer this but not to take a workplace pension.

I have the letter somewhere but IIRC they cited NIC as the reason. It's only about 5k!

Thanks for the response!

With regards to the certified signature, they've (Swiss Life) have actually asked me to do it via a notary.

I need to clarify here: my mandatory payment was 600chf a month which came off my salary. What i mean is that only 500chf actually went into the pension pot. My agency cited Swiss Life's charges and fees as the reason the other 100chf was taken away each month. This seems really high to me and wondered what other people had experienced. In the UK pension companies charge only a few percent each year and not 100chf each month.


They've quoted me that I'd lose about 20% if i take the amount out which again sounds high to me.

I agree. It's only obligatory for employers to offer the pension scheme and don't think it's fully phased in yet to all employers.

Just out of interest what does IIRC stand for?

Sorry i realised what IIRC stood for after pressing send. For some reason I thought it was a body .

Im assuming it was HMRC who replied to the LOB form and cited the NIC contributions?

Then go to a Notary, why ask if you have the answer?

Employer & Employee contributions get credited, the employer must pay a min of 50%. Disability insurance is required by law & waiver of premiums are included, this could cost the insurer 80% of salary until age 65, possibly several million chf, clearly that sort of insurance is not cheap. UK does not require that disability is insured, many older company schemes will cover this, personal ones if you pay . The charges for Swiss pensions are not high.

HMRC sent me a form to complete because of the request from LOB. Then LOB sent me a letter with a final decision.

My question about the notary was to find out if other people had to do this. Going to a notary is hassle and costly and I wanted to know if it was just Swiss Life's way of putting me off trying to get the pension back.

In my pension only the employee contributions have gone to Swiss Life (less the 100chf a month). The AHV contributions are separate and apparently I'll get a small swiss pension when I turn 65 from their government. Seems like you're saying the charges aren't high but the risk fees are? Again i wanted to know if other people had their pension credited with the full amount they'd had taken off their salary or if some had been taken away like with me.

It costs about 20chf to get a signature certified by a notary and takes about five minutes so it's not really much of a hassle.