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Old 05.04.2021, 10:44
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Double Pension question

Hi all,

I'm 57 and have lived here for 32 years, even shocking to write that somehow, doesn't time fly..

So, one starts (finally..) thinking about retirement - far too late of course, but there you go - better late than never... Of course I have my Swiss 1st and 2nd pillar pension to look forward to (split through divorce in 2012). My 1st pillar is about 3 years short of being 100%, which means a shortfall of about 300.- a month from the full amount.

Because of this, I started looking at my UK state pension, where it seems I have 12 qualifying years. Strangely, I can buy (class3, possibly cheaper class 2..) up to 24 years of voluntary contributions, back to 2006 and up until I retire here (and 2 years later, at 67, in the UK).

The increased pension"return" I would get on buying these 24 years is massively more than investing that same amount of money into my 2nd pillar pension (I have asked.. 10K investment this year would increase my 2nd pillar pension by 600.- a year ) , ridiculously so actually, so I'm wondering where the catch is...?!

Can I really receive my Swiss pensions here (state and private 2nd pillar) in addition to a UK state pension?

A friend mentioned reciprocal agreements between the UK and CH, and i'm wondering if there is a "catch" here, that one cannot receive both, only one state pension in one place?

Does anybody have any experience/knowledge about this?

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