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Old 22.02.2016, 20:43
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Vested benefits account

Hi!
I am leaving Switzerland for good and returning to my home country after 18 months.
I have been informed that I need to open a vested benefits account at a Swiss Finance Institute to hold the compulsory part of my vested benefits.
I have my regular account in Post Finnance, but I will probably close it after leaving, so I doubt if opening the new account in Post Finance or look for another bank.
Any advices?
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Old 22.02.2016, 21:02
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Re: Vested benefits account

I don't think it matters if you have another account open here or not.

https://www.ch.ch/en/withdraw-pension-early

https://www.sem.admin.ch/dam/data/se...zialvers-e.pdf

If PostFinance offer a vested benefit account you can open it there or use another bank if you prefer.
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Old 22.02.2016, 22:20
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Re: Vested benefits account

Thanks for the links!
I come from Spain, so this money needs to stay here until I retire there.
I just wanted to know if anyone had any experience in this kind of accounts, if every bank offers more or less the same conditions. But I guess everyone with first-hand experience would have already leave the country and, most probably, the forum as well
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Old 22.02.2016, 23:35
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Re: Vested benefits account

If you've only been here 18 months then the money does not need to stay here; that only applies to people who have been here for more than a certain period (I think 5 years, but maybe more).
Once you get your deregistration confirmation from the Gemeinde you can submit it to your workplace and they will pay a cash lump sum to your account.
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Old 22.02.2016, 23:42
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Re: Vested benefits account

You can open a bank account in Post Finance for the invested benefits, it can be not related to your regular account there. But you need to tell them you are going to close your regular account after you leave. It works for me.
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Old 23.02.2016, 20:06
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Re: Vested benefits account

Thank you all for your answers.

Quote:
View Post
If you've only been here 18 months then the money does not need to stay here; that only applies to people who have been here for more than a certain period (I think 5 years, but maybe more).
Once you get your deregistration confirmation from the Gemeinde you can submit it to your workplace and they will pay a cash lump sum to your account.
Kitcat: Apparently, "Since 1 June 2007, cash payment of the entire vested benefits due to persons leaving Switzerland permanently can only be made if the person concerned is no longer subject to mandatory retirement, surviving dependants’ and disability insurance in an EU member state, Iceland or Norway. If you move to an EU member state, Iceland or Norway, you can only receive cash payment of your vested benefits under the compulsory (BVG/LOB) occupational pension scheme if you can demonstrate that you are not subject to mandatory state retirement, surviving dependants’ and disability insurance in the country concerned. If you are not able to do this, only that part of your vested benefits that exceeds the statutory minimum (non-compulsory component) can be paid out in cash. The remaining benefits must be transferred to an account in your name at a vested benefits institution in Switzerland.".
Therefore, going back to Spain, EU member state, I can cash some of my money, but the other has to stay here until I retire. I'll have a look at Post Finance for the account, then.
Thanks a lot!
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Old 25.02.2016, 15:58
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Re: Vested benefits account

I have no direct experience with this, but I believe the recommendation is to have your funds transferred to a Freizügigkeitskonto in a lower tax Kanton (e.g. Schweiz). For example through http://www.pens-expert.ch/en/pensfree/index.php
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