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  #141  
Old 23.07.2019, 12:52
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Re: Leaving to live in the EU & cashing in a Swiss Pension

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thanks for the response - do they tell you why you are denied or just that you are denied?
Due to the fairly recent workplace pension regulations he was subject to compulsory insurance being an employee.
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  #142  
Old 23.07.2019, 20:02
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Re: Leaving to live in the EU & cashing in a Swiss Pension

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thanks for the response - do they tell you why you are denied or just that you are denied?
They said after contacting HMRC that I was subject to compulsory pensions insurance.

They didn't elaborate on that any further.
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  #143  
Old 04.09.2019, 22:40
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Re: Leaving to live in the EU & cashing in a Swiss Pension

Hello all,

First of all a big thank you for all the info present in this post! Really helped me a lot understanding a bit what other people kept saying that was impossible.

So basically I have few questions:

1) Once I announce my oficial leave, should I send the form that is mention in the first post () to my Pension fund or to the LBO fund?

2) Also after sending the file how should it be the procedure? My pension will contact me? From what I understand, if it will be possible to cash-out all the 2nd pillar, I will need to be 6 months without a job in my country to receive it correct?

I am planning to move to Portugal next year. Any experience or known people that sucessfully cashed-out the 2nd pillar when moving over there?

Thank you all!!
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  #144  
Old 24.09.2019, 23:56
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Re: Leaving to live in the EU & cashing in a Swiss Pension

where can I find more information about which state have State social insurance?
and what is defined exactly as State Social insurance?
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  #145  
Old 24.09.2019, 23:57
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Re: Leaving to live in the EU & cashing in a Swiss Pension

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where can I find more information about which state have State social insurance?
and what is defined exactly as State Social insurance?
Apply to the LOB and hope for the best
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  #146  
Old 25.09.2019, 00:31
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Re: Leaving to live in the EU & cashing in a Swiss Pension

Do you mean here, porsch?

http://www.sfbvg.ch/xml_1/internet/E...cation/f68.cfm
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  #147  
Old 25.09.2019, 00:40
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Re: Leaving to live in the EU & cashing in a Swiss Pension

The link in the first post of the thread, is the actual page required http://www.sfbvg.ch/xml_3/internet/E...on/d51/f62.cfm
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  #148  
Old 07.01.2020, 19:44
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Re: Leaving to live in the EU & cashing in a Swiss Pension

Firstly a big thanks to everyone (in particular Fatman) for their contribution on this thread for what is a rather complex issue. Now we have Brexit thrown into the mix seems like there is only more things I’m unsure of!

I left Switzerland for the UK about 8 months ago and contacted the LOB office in due course, I’ve chased them and my claim is currently sitting with HMRC. My current understanding is that I will be fine withdrawing the non-mandatory part of the 2nd pillar but due to changes in the work place pension its unlikely I will be able to withdraw the mandatory part.

If anyone would be as kind to help with the below that would be great. Apologies on the random nature of the questions but so many keep popping into my head I had to jot them down!

• If my understanding of work place changes is correct – was this the auto enrolment legislation? If so, I was under the belief that you could opt out but it was something you had to specifically request. I would have assumed this still make this type of pension contribution not compulsory.
• Tough one to answer but any thoughts welcome – Given the UK is going to leave the EU (and other affiliated groups) would this present an opportunity to withdraw the mandatory part? I imagine there will be a bilateral agreement in time but until this was ratified there may be a window of hope.
• I intend to use this money to buy my first & only property, I know that you are able to use the non-mandatory part in Switzerland for such purposes, does anyone know if this is possible in other countries (not holding much hope here)?
• I’m a bit lost with the various comments of costs of taking any pension out (fund fees, canton taxes). I haven’t touched/requested anything be moved whilst in Switzerland, before or after I left, but was a resident in Zug up to the point of my departure. What are the key costs I need to be aware of and which ones can I control? I’ve read there is a usual fee of 500chf and I think a fixed fee according to the size of the withdrawal?
• If I am unable to withdraw the mandatory part of the 2nd pillar am I right in saying this just sits in a vested benefits account until I hit retirement age? I understand that this is a low fee and feeble return situation? The best I could hope for is that upon retiring this will not have been eroded by inflation!

Again thanks to anyone helpful enough to reply.

Guy
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  #149  
Old 07.01.2020, 20:05
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Re: Leaving to live in the EU & cashing in a Swiss Pension

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• Tough one to answer but any thoughts welcome – Given the UK is going to leave the EU (and other affiliated groups) would this present an opportunity to withdraw the mandatory part? I imagine there will be a bilateral agreement in time but until this was ratified there may be a window of hope.
There is allready a bilateral agreement from 1968
https://www.admin.ch/opc/de/classifi...033/index.html
which AFAIK is not relevant regarding pay out

plus a Social Security agreement in case of a no-deal brexit, valid till end of 2020 which keeps the current status quo, including cash payments
https://www.gov.uk/government/public...tent=immediate

http://www.verbindungsstelle.ch/xml_.../detail211.cfm
http://www.sfbvg.ch/xml_3/internet/d...ion/d3/f17.cfm
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  #150  
Old 19.01.2020, 22:10
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Re: Leaving to live in the EU & cashing in a Swiss Pension

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• Tough one to answer but any thoughts welcome – Given the UK is going to leave the EU (and other affiliated groups) would this present an opportunity to withdraw the mandatory part? I imagine there will be a bilateral agreement in time but until this was ratified there may be a window of hope.
I asked this question to my 2e pilier company a couple of weeks ago and they confirmed that once the UK leaves the EU I will be able to withdraw the sum of my 2e pilier (mandatory and non-mandatory parts) upon leaving.

The bilateral agreement for now foresees taxation at source (withholding tax), in Switzerland.
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  #151  
Old 20.01.2020, 01:03
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Re: Leaving to live in the EU & cashing in a Swiss Pension

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I asked this question to my 2e pilier company a couple of weeks ago and they confirmed that once the UK leaves the EU I will be able to withdraw the sum of my 2e pilier (mandatory and non-mandatory parts) upon leaving.

The bilateral agreement for now foresees taxation at source (withholding tax), in Switzerland.
Good news that. Just need to get my 5000 bits of paperwork in order
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  #152  
Old 20.01.2020, 01:21
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Re: Leaving to live in the EU & cashing in a Swiss Pension

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I asked this question to my 2e pilier company a couple of weeks ago and they confirmed that once the UK leaves the EU I will be able to withdraw the sum of my 2e pilier (mandatory and non-mandatory parts) upon leaving.
That information is in disagreement with what is written on the Swiss government website:
Quote:
Transitional period after Brexit
From exit date until 31.12.2020, the social security coordination under FMOPA will continue to apply between Switzerland and the UK. As the case may be, it shall apply on the basis of the UK-EU withdrawal agreement, under which international agreements with third countries - like Switzerland - shall remain applicable for the UK for a transitional period.; or, if the UK exits the EU without a withdrawal agreement, on the basis of a transitional agreement concluded between Switzerland and the UK, which maintains temporarily the social security coordination as under FMOPA.
https://www.bsv.admin.ch/bsv/en/home...cherungen.html

and the website of the Verbindungsstelle/LOB Guarantee Fund
Quote:
Even in case of an unsorted brexit the restrictive provisions concerning cash payment upon departure remain applicable.
http://www.verbindungsstelle.ch/xml_.../detail211.cfm

It is the LOB Guarantee Fund which gives the green light that the mandatory part of pillar 2 can be paid out by the pension provider or vested benefit provider: http://www.verbindungsstelle.ch/docu...blattUK-en.pdf
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  #153  
Old 20.01.2020, 01:27
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Re: Leaving to live in the EU & cashing in a Swiss Pension

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That information is in disagreement with what is written on the Swiss government website:

https://www.bsv.admin.ch/bsv/en/home...cherungen.html

and the website of the Verbindungsstelle/LOB Guarantee Fund

http://www.verbindungsstelle.ch/xml_.../detail211.cfm

It is the LOB Guarantee Fund which gives the green light that the mandatory part of pillar 2 can be paid out by the pension provider or vested benefit provider: http://www.verbindungsstelle.ch/docu...blattUK-en.pdf
Dashed my hopes and dreams although not surprising LOB got the year wrong
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  #154  
Old 20.01.2020, 07:40
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Re: Leaving to live in the EU & cashing in a Swiss Pension

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That information is in disagreement with what is written on the Swiss government website:

https://www.bsv.admin.ch/bsv/en/home...cherungen.html

and the website of the Verbindungsstelle/LOB Guarantee Fund

http://www.verbindungsstelle.ch/xml_.../detail211.cfm

It is the LOB Guarantee Fund which gives the green light that the mandatory part of pillar 2 can be paid out by the pension provider or vested benefit provider: http://www.verbindungsstelle.ch/docu...blattUK-en.pdf
Good morning. I will send them the articles you quote and see what they say. They confirmed in writing, twice, that payment of the totality would be possible after the transition period but of course they do not have a crystal ball as to any new agreements that may or may not come into effect thereafter.

I'll keep you posted.
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  #155  
Old 20.01.2020, 16:55
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Re: Leaving to live in the EU & cashing in a Swiss Pension

Good Afternoon, I moved back to the UK last year and I opened a Freizugigheitskono with my bank to hold it until retirement age. But with Brexit on the horizon it seems that I should be able to cash in the Pension (outside of EU/EFTA). But so far nothing I have read says this explicitly. Does anyone have a link or know something more ?
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  #156  
Old 20.01.2020, 21:39
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Re: Leaving to live in the EU & cashing in a Swiss Pension

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Good Afternoon, I moved back to the UK last year and I opened a Freizugigheitskono with my bank to hold it until retirement age. But with Brexit on the horizon it seems that I should be able to cash in the Pension (outside of EU/EFTA). But so far nothing I have read says this explicitly. Does anyone have a link or know something more ?
The only thing I read on gov't website is that it's not defined yet. Switzerland is moving to create as less friction as possible though, so I don't think there will be news until it's clear EU/UK can or cannot reach a deal, it will probably take the whole year. I would just check admin.ch for news when things start moving.
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  #157  
Old 21.01.2020, 15:14
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Re: Leaving to live in the EU & cashing in a Swiss Pension

http://www.verbindungsstelle.ch/xml_.../detail211.cfm

Impact of BREXIT on cash payment upon departure

The United Kingdom’s departure date from the EU has been extended to January 31, 2020. Until then the CH-EU Agreement on the Free Movement of Persons (FMOPA) and Regulations (EC) no. 883/2004 and 987/2009 remain applicable between Switzerland and the United Kingdom. In case the EU and the United Kingdom come to an agreement about the withdrawal the FMOPA and the corresponding Regulations will continue to apply during a transitional period. This means that during the transitional period a cash payment of the statutory minimum occupational benefit savings on definite departure from Switzerland to the United Kingdom will only be possible if the person concerned is not subject to compulsory pension, disability and survivors’ benefit insurance in the United Kingdom.

Even in case of an unsorted brexit the restrictive provisions concerning cash payment upon departure remain applicable.
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  #158  
Old 21.01.2020, 15:34
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Re: Leaving to live in the EU & cashing in a Swiss Pension

So at the moment it depends on what is agreed during the transitional period between the UK and EU.
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