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Old 18.01.2017, 13:09
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Retiring when 60

Hi,
been wondering if one decides to stop working at age of 60 (man), would he be entitled to reduced pension from day 1, or nothing till 65 and then reduced pension (for those 5 years not worked)? If yes, how would health care work? Same as now? (I pay here and have world coverage till limit of 2x price in Suisse, but not sure if that's only for illness, and doesn't include dental work)

I don't plan retiring in most expensive country in the world, so taking a slight hit on pension at 60 wouldn't matter as much as spending remaining 5 best years of my life as I want, health permitting.

I am paying 3rd pillar too, and probably won't withdraw it in lump sum (ie for property buy), rather having tiny monthly payments.

Tried googling and searching here, but didn't find any detailed info.
Thank you in advance
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Old 18.01.2017, 13:11
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Re: Retiring when 60

why don't you ask the pension fund?
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Old 18.01.2017, 13:11
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Re: Retiring when 60

My pension fund (pillar II) allows me to retire as from 58, with a huge deduction obviously. AFAIK pillar I/AHV will only be paid at the official retiring age?


Edit:


Statutory retirement age

In Switzerland, the statutory retirement age is 65 for men and 64 for women.


Early retirement

With regard to the 1st pillar, you may withdraw your AHV pension 1 or 2 years ahead of time. This will, however, reduce your pension throughout retirement by 6.8% (for 1 year) or by 13.6% (for 2 years). The terms and conditions for early retirement are described in the brochure on flexible retirement below (available in German, French or Italian).

With regard to the 2nd pillar, you have the option to retire early only if your pension fund’s regulations expressly provide for early retirement and under the conditions set by the pension. The minimum age for early retirement is set at 58. In this case, you will only receive your occupational pension (2nd pillar) until you reach the statutory retirement age. To bridge the gap until you receive your AHV pension, check with your pension fund to see if it provides a supplementary pension, known as the ‘AHV bridge’. Employers sometimes offer this supplementary pension; if not, it is up to the employee to take out this pension on his/her own.

Early retirement reduces AHV and 2nd pillar pensions throughout retirement.
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Old 18.01.2017, 13:34
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Re: Retiring when 60

Thank you, the reason why I ask is that in yearly pension statements from pension provider they mention retirement amounts (lump sum and monthly payments) from 60 till 65. Wasn't sure if it was just some theoretical numbers or system supports it, with some necessary financial punishment. Of course this might change if I change work and new employer's pension company will have different rules.

Another alternative would be working on 80% (or rather 60%) along my fiancee (and hopeful wife) which is few years younger.

I just can't see myself motivated to work 5 days a week in 60. I like my work (hate corporate env though), but my passions are and will be elsewhere
 




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