Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #1  
Old 12.02.2017, 07:02
Member
 
Join Date: Sep 2015
Location: VS
Posts: 109
Groaned at 21 Times in 11 Posts
Thanked 69 Times in 44 Posts
alexyalmtl is considered knowledgeablealexyalmtl is considered knowledgeablealexyalmtl is considered knowledgeable
German retirement fund, Canadian in CH

Hello all,

I'm wondering if there is anyone in a similar situation who has thought about these retirement questions.

Brief summary of my situation: Canadian citizen under 35 years, have worked in several countries: Canada (5 years), France (<1 year), Germany (~2 years), and USA (~1 year). Now working in Switzerland (~1 year). No idea where I will retire but a good chance that it will be in Europe and specifically CH.

I understand the 3 pillars in CH but I know little about what I've accumulated in the other countries. I emptied my Canadian RSP. Beyond that, I just know that I've contributed to the public retirement fund in DE and have the possibility of withdrawing a part of that amount.

My big questions at the moment are the following.

1. What should I do to have recognized the years worked?
2. Is it a bad idea to take the balance of my German public retirement fund? (A few thousand euros.) I never plan to return there but they're willing to add it to my Canadian retirement fund... except that I'm clueless about the latter, having left Canada before I had even considered such subjects.

Thanks!
Reply With Quote
  #2  
Old 12.02.2017, 12:58
Senior Member
 
Join Date: Apr 2014
Location: Lausanne
Posts: 263
Groaned at 1 Time in 1 Post
Thanked 490 Times in 179 Posts
Tox_Rat has a reputation beyond reputeTox_Rat has a reputation beyond reputeTox_Rat has a reputation beyond reputeTox_Rat has a reputation beyond repute
Re: German retirement fund, Canadian in CH

Under German law, you may recover your statutory contributions to the state retirement insurance, but not your employer's, if and only if, you have made less than 5 years of contributions, been living outside Germany for 2+ years AND you are not living in a place where you could have been making voluntary contributions. Switzerland is one of these places, so you won't be able to recover your funds before retirement age unless at some point in the future you move somewhere else like the US.

The various states of the EU + Switzerland share information and the funding of your pension. What will happen is that upon retirement in e.g. CH, you will receive your pension from the local authorities, who will formally request that the German authorities reimburse them for their share. At this point location doesn't matter, you could retire to a completely different country and you are still entitled.

I'm in the same boat: I have only a few thousand in contributions over the 3 years I was there. It won't go very far towards my retirement, but at least I don't lose it all completely.
Reply With Quote
  #3  
Old 02.06.2017, 14:21
Member
 
Join Date: Sep 2015
Location: VS
Posts: 109
Groaned at 21 Times in 11 Posts
Thanked 69 Times in 44 Posts
alexyalmtl is considered knowledgeablealexyalmtl is considered knowledgeablealexyalmtl is considered knowledgeable
Re: German retirement fund, Canadian in CH

Hi, sorry to say thank you for your reply so late... but thanks!

I've been in communication with the German pension authority. It seems that they may be willing to pay out despite that I live in CH. I will write more when I know more.
Reply With Quote
  #4  
Old 27.05.2020, 11:27
Member
 
Join Date: Sep 2015
Location: VS
Posts: 109
Groaned at 21 Times in 11 Posts
Thanked 69 Times in 44 Posts
alexyalmtl is considered knowledgeablealexyalmtl is considered knowledgeablealexyalmtl is considered knowledgeable
Re: German retirement fund, Canadian in CH

Just tidying up this thread with information for posterity.


Despite my place of residence being CH, the German Rentenversicherung paid me my contributions.
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Advice for fund investment in CH Sky Blue Finance/banking/taxation 12 22.08.2016 18:49
Travel Documents: Canadian living in CH going to Spain giwantsnow Permits/visas/government 1 13.06.2016 13:26
Rollover Retirement Fund from US to CH? lychee Housing in general 4 02.11.2009 02:08
Retirement in CH with adult child SwissBlis Permits/visas/government 11 09.07.2009 09:18
retirement for US/Canadian Citizens Cashmere Permits/visas/government 8 15.02.2007 20:42


All times are GMT +2. The time now is 17:39.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0