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Old 26.04.2020, 18:36
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need info about 2.Säule after death, as a single payment

hello, I would like to have some informations, when my father passed away, his last employer where he worked for less than 10 years, had as 2.Säule the package from Swiss Life: "BVG-Sammelstiftung Swiss Life".

We got the payment for his 2. Säule as a single payment, but the amount was higher than expected, as I just assumed we would get what they deducted for BVG each month, multiplied by 2 (I assumed his employer was matching 100%). So with deduction of 350chf per month, for 7 years of work, I was expecting around 60k CHF, but instead the sum was almost 4 times that, close to 250k CHF.

As this happened over 2 years ago and I didnt know about the amount, but my mother was the beneficiary, and she just asked to double check the amount, and they confirmed twice that everything is correct (she also got this in writing). But she never cared about the reasons, I do, so I wanted to know if someone can explain me how this "BVG-Sammelstiftung Swiss Life" package works!
I don't know much about insurances or pensions to understand what I found on google, so maybe someone can help me out!
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Old 26.04.2020, 19:06
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Re: need info about 2.Säule after death, as a single payment

Pillar 2 does not only offer a monthly pensions once you retire but is also a life insurance in case of early death or disability.

That your mother got so much indicates that they were married and he still employed at the time of death.

From the CHF 350 ( 2x) paid each month a part was used for the life insurance.

Last edited by aSwissInTheUS; 27.04.2020 at 09:40. Reason: Added missing only, as pointed out by doropfiz
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Old 26.04.2020, 19:37
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Re: need info about 2.Säule after death, as a single payment

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Pillar 2 does not offer a monthly pensions once you retire but is also a life insurance in case of early death or disability.

That your mother got so much indicates that they were married and he still employed at the time of death.

From the CHF 350 ( 2x) paid each month a part was used for the life insurance.
Yes exactly, they were still married, and yes, he passed away suddenly due cancer, he was still far away from pension!

So you are confirming me that the reason of that big amount was due to a life insurance from Swiss Life's Package? Where can I find more informations about this?

thank you very much
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Old 26.04.2020, 20:56
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Re: need info about 2.Säule after death, as a single payment

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Pillar 2 does not offer a monthly pensions once you retire but is also a life insurance in case of early death or disability.
Pillar 2 (the pension plan of an employer, in terms of the BVG, and perhaps exceeding the BVG) may, indeed, offer a monthly pension.

I think you may have omitted a word here: "only". Might you have meant this?
Pillar 2 does not only offer a monthly pensions once you retire but is also a life insurance in case of early death or disability.

Or have I fundamentally misunderstood something, all along?
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Old 26.04.2020, 21:02
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Re: need info about 2.Säule after death, as a single payment

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....his last employer where he worked for less than 10 years, had as 2.Säule the package from Swiss Life: "BVG-Sammelstiftung Swiss Life"....
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YWhere can I find more informations about this?
You, or better your mother, can write to Swiss Life and ask for a copy of the Rules (Reglement) governing the way in which your father was insured: the "BVG-Sammelstiftung Swiss Life" and can ask if there were other rules.

Also, the pension plan should have issued, each year, a statement of insurance coverage, called a Leistungsausweis or Versicherungsausweis or something along those lines, indicating how much would be paid out in the case of each insured event. This might be with your father's salary statements or tax form. Or else, perhaps, your mother could write and ask for a copy of the last one issued prior to your father's death.

If you have that, you'll be able to see the relevant vocubulary, and thereby refer to those parts of the rules.
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Old 27.04.2020, 07:32
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Re: need info about 2.Säule after death, as a single payment

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Pillar 2 (the pension plan of an employer, in terms of the BVG, and perhaps exceeding the BVG) may, indeed, offer a monthly pension.

I think you may have omitted a word here: "only". Might you have meant this?
Pillar 2 does not only offer a monthly pensions once you retire but is also a life insurance in case of early death or disability.

Or have I fundamentally misunderstood something, all along?
Basically correct. Depending on the scheme there might be 3 options on retirement - final salary pension (still exist but rarer than hens' teeth these days) or a choice (wholly or partially) between withdrawing as cash or taking an annuity. Or a mix between 2 and 3.

To the OP, possibly the company contribution is more than your fathers. But mainly it is possible your father has made additional payments into the fund, partially to increase his pension fund but mainly (given the not overly impressive performance of many pension funds) to save tax.

I very much doubt the fund will distribute more than they have to.
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Old 27.04.2020, 09:31
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Re: need info about 2.Säule after death, as a single payment

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I think you may have omitted a word here: "only". Might you have meant this?
Pillar 2 does not only offer a monthly pensions once you retire but is also a life insurance in case of early death or disability.

Or have I fundamentally misunderstood something, all along?
You fundamentally corrected my omission and mistake. Thank you.

Note to mayself: Proofread pefore posting.
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Old 27.04.2020, 09:31
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Quote:
Basically correct. Depending on the scheme there might be 3 options on retirement - final salary pension (still exist but rarer than hens' teeth these days) or a choice (wholly or partially) between withdrawing as cash or taking an annuity. Or a mix between 2 and 3.

To the OP, possibly the company contribution is more than your fathers. But mainly it is possible your father has made additional payments into the fund, partially to increase his pension fund but mainly (given the not overly impressive performance of many pension funds) to save tax.

I very much doubt the fund will distribute more than they have to.
So my father didn't make additional payments, and I doubt the compay contributed much more than 100%.

I'm pretty sure after reading more and after the input of other users, that this happened as another user suggested:

"From the CHF 350 ( 2x) paid each month a part was used for the life insurance."

after reading more on Swiss Life's website about the package:
"BVG-Sammelstiftung Swiss Life", they state that in that package the following is included:

"Die Risiken Tod,
Invalidität und Langlebigkeit werden vollständig durch
Swiss Life gedeckt."

so I assume this must be it, in that package also a case of death was covered!

Todesfallkapital

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You fundamentally corrected my omission and mistake. Thank you.

Note to mayself: Proofread pefore posting.
Hello, thank you for your initial answer, I didn't even think there was a possibility of having a life insurance included in a 2.Säule fund!! But after what you said, I did more research and it seems that that package from Swiss Life indeed covers also the case of death!
And as you said, I guess the amount was that big because my father was still employed and still nowhere near pension!

Last edited by 3Wishes; 27.04.2020 at 11:11. Reason: merging consecutive replies
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Old 27.04.2020, 09:34
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Re: need info about 2.Säule after death, as a single payment

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I very much doubt the fund will distribute more than they have to.
As said, pillar 2 has a life insurance part.
How much does it cost? Check your yearly statement for Risikobeitrag/Cotisation de risque/Contributo di rischio/Risk contributions

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Hello, thank you for your initial answer, I didn't even think there was a possibility of having a life insurance included in a 2.Säule fund!! But after what you said, I did more research and it seems that that package from Swiss Life indeed covers also the case of death!
This is mandated by law. So not just Swiss Life Pillar 2
For legal details see starting from Art. 18 BVG https://www.admin.ch/opc/de/classifi...index.html#a18
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Old 27.04.2020, 10:00
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Re: need info about 2.Säule after death, as a single payment

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This is mandated by law. So not just Swiss Life Pillar 2
For legal details see starting from Art. 18 BVG https://www.admin.ch/opc/de/classifi...index.html#a18
Ok I didn't know this, but now a new doubt comes to mind.

At the time of his death, he was employed in 2 different places.
The work % was around 50/50, and in both employements he was working there for 7-8 years.

One of them was this one with the Swiss Life package,
but the other one, he was a simple worker with Manor AG, and in their case, not only they didnt offer a single payment option, but instead a fixed monthly amount, but the "final" amount was more or less in line with what we were
expecting. So why in this case there wasn't also a "life insurance" policy?

I just assumed it depends on the 2.Säule package the company had, and I assumed Manor didnt have life insurance in their package
 




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