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Old 11.03.2021, 09:01
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Re: House purchase while on unemployment...

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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. Im 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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  #22  
Old 11.03.2021, 09:12
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Re: House purchase while on unemployment...

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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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  #23  
Old 11.03.2021, 09:29
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Re: House purchase while on unemployment...

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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. Im 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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  #24  
Old 11.03.2021, 09:36
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Re: House purchase while on unemployment...

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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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  #25  
Old 11.03.2021, 13:22
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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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Old 11.03.2021, 18:18
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Re: House purchase while on unemployment...

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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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  #27  
Old 11.03.2021, 19:58
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Re: House purchase while on unemployment...

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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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  #28  
Old 11.03.2021, 20:36
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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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