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Old 27.04.2020, 19:36
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Pension solutions for expats

Hi,

I'm new to this so apologies for duplicating any information. I've taken time to read through relevant posts but would appreciate feedback on my situation which I'm sure can't be unique.

I am 45 and wish to set up a pension. I moved to Switzerland 5 years ago due to my partner's job. It was meant to be temporary so I didn't worry about pension planning, we're still here! I have a part-time job without an employer pension.

I'm aware that any pension/investment should be long term for maximum gains, ideally 25 years. I have 20. The problem is finding a solution that I can start now and continue when I leave in approx. 5 years. I've looked at 3rd pillars with banks - flexible in terms of payments but only possible while resident here. Products from insurance companies allow you to continue payment and switch between 3a/3b depending on employment status which sounds great, but you sign up for a long term contract and the costs are higher.

I've done lots of research, looked at third pillars with banks and insurance companies and its difficult to know the best thing to do long term when you're uncertain of timescales and plans???

Is it better to go for the long term contract that i can continue once i leave Switzerland. A pension pot with 20 years to accumulate. So the focus is on growth over a long period?

Or will the high costs compromise returns and its better to go for a 5 year investment pot with a bank here and start again on return to the UK. It will only be for 15 years but maybe the better returns and lower costs make up for the shorter period? So 15 years UK SIPP vs 20 years Swiss insurance/pension?

I really want to invest now for the long term but not sure it's possible with a pension?? Anyone else had this scenario?
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