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11.03.2021, 09:01
| Member | | Join Date: May 2012 Location: Valais, Switzerland
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| | Re: House purchase while on unemployment... | Quote: | |  | | | Not true. I took our more than 10% of the purchase price from my pension.
10% is the amount that you need to put in of your own non-pension funds. I‘m not aware of there being an upper amount on how much pension you can use, but the withdrawal tax on a big lump sum will be noticeable. | | | | | Oh, thanks for that tip.. That's good to know..!
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11.03.2021, 09:12
|  | Forum Legend | | Join Date: Dec 2010 Location: Lugano
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| | Re: House purchase while on unemployment... | Quote: | |  | | | 10% is the amount that you need to put in of your own non-pension funds. | | | | | Or more.
3p counts as non-pension funds, BTW.
Tom
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11.03.2021, 09:29
|  | Senior Member | | Join Date: Sep 2007 Location: Zurich
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| | Re: House purchase while on unemployment... | Quote: | |  | | | Not true. I took our more than 10% of the purchase price from my pension.
10% is the amount that you need to put in of your own non-pension funds. I‘m not aware of there being an upper amount on how much pension you can use, but the withdrawal tax on a big lump sum will be noticeable. | | | | | Yes, you can even drain your pension fund to buy a property. Whether it is wise to do so, is another question.
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11.03.2021, 09:36
|  | Forum Legend | | Join Date: Apr 2010 Location: Verbier
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| | Re: House purchase while on unemployment... | Quote: | |  | | | Yes, you can even drain your pension fund to buy a property. Whether it is wise to do so, is another question. | | | | | The return from most Swiss pensions is so poor, there would be very little in it.
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11.03.2021, 13:22
|  | Forum Veteran | | Join Date: Oct 2008 Location: Kanton Schwyz.
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| | Re: House purchase while on unemployment...
The subject was house purchase. I would not recommend buying an apartment in Switzerland, especially if you are a foreigner. It is all too easy to upset someone, your noisy English toaster after 10pm etc. I just see it ending badly, you thinking extortionate block management fees are unreasonable, etc.
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11.03.2021, 18:18
| Forum Legend | | Join Date: Jul 2020 Location: Frick, Aargau
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| | Re: House purchase while on unemployment... | Quote: | |  | | | Yes, you can even drain your pension fund to buy a property. Whether it is wise to do so, is another question. | | | | | And the answer, in my view, is resoundingly a yes. At least if you aren't close to retirement.
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11.03.2021, 19:58
|  | Forum Legend | | Join Date: Oct 2009 Location: Basel
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| | Re: House purchase while on unemployment... | Quote: | |  | | | And the answer, in my view, is resoundingly a yes. At least if you aren't close to retirement. | | | | | Not sure I would agree. The mortgage interest rate is currently <1% so your return on investment by reducing mortgage is very low. On the other hand, you are subject now to higher wealth taxes which can be more than the post-tax interest savings.
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11.03.2021, 20:36
|  | Forum Veteran | | Join Date: Oct 2008 Location: Kanton Schwyz.
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| | Re: House purchase while on unemployment...
Have you got a cat Phil? Has the OP got a cat, dog (that bites people occasionally maybe)? Ask your pet. Should Daddy/Mummy reduce their mortgage by... Pets are generally smarter than their owners...
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