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  #281  
Old 13.07.2017, 18:29
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Re: Swiss pensions consolidated summary

I have a question about pensions - what do you do if you are not working? Do you have to buy into a private scheme?

I have a UK pension but will be moving to Switzerland and not working for a few years and I don't want to lose out on my pension.

Any ideas or helpful resources I can check?

Thanks.
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  #282  
Old 13.07.2017, 18:35
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Re: Swiss pensions consolidated summary

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I have a question about pensions - what do you do if you are not working? Do you have to buy into a private scheme?

I have a UK pension but will be moving to Switzerland and not working for a few years and I don't want to lose out on my pension.

Any ideas or helpful resources I can check?

Thanks.
You have to pay for Pillar 1 regardless, you can always pay voluntary contributions to your UK state pension. 35 years of contributions give a full UK OAP.
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  #283  
Old 13.07.2017, 19:45
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Re: Swiss pensions consolidated summary

Everyone has to pay into the Swiss Pillar 1 (equivalent of State pension) whether they work or not. As FMF said you can make voluntary payments into the UK scheme and you could also have a Pillar 3a account here too to put monthly sums into I think. Or, if you're interesting in investing, then FMF has lots of advice on that.
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  #284  
Old 13.07.2017, 19:58
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Re: Swiss pensions consolidated summary

So instead of an employer paying Pillar 1 contributions I just pay them directly? Is there a fixed rate? Who do you make the payment to?

Thanks for the info on the UK contributions; I'll look into that.
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  #285  
Old 13.07.2017, 20:47
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Re: Swiss pensions consolidated summary

No, it's based on your assets if you're not working or your spouse isn't working and paying contributions on your behalf. PDF leaflet with more info here.

https://www.ahv-iv.ch/p/2.03.e

Start with the relevant cantonal compensation office to register and find out how to pay.

https://www.ahv-iv.ch/en/Contacts/Ca...sation-offices
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  #286  
Old 19.08.2017, 23:18
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Re: Swiss pensions consolidated summary

Normally, how do people leaving in EU countries collect their swiss pension?
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  #287  
Old 20.08.2017, 09:01
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Re: Swiss pensions consolidated summary

https://www.ch.ch/en/withdraw-pension-early/

If you don't/can't withdraw it all, the remainder has to be put into a vested benefits account here until you reach Swiss retirement age and then it can be paid out to you in whichever EU country you're living in.
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  #288  
Old 20.08.2017, 11:14
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Re: Swiss pensions consolidated summary

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https://www.ch.ch/en/withdraw-pension-early/

If you don't/can't withdraw it all, the remainder has to be put into a vested benefits account here until you reach Swiss retirement age and then it can be paid out to you in whichever EU country you're living in.
I hear that in theory that was the case, but in practise after 2 years they would let you withdraw it. Could there be any truth to this?
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  #289  
Old 20.08.2017, 11:20
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Re: Swiss pensions consolidated summary

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I hear that in theory that was the case, but in practise after 2 years they would let you withdraw it. Could there be any truth to this?
Leaving to the EU, if the new country does not require compulsory insurance then it can be withdrawn. You need to fill in a form with the Swiss LOB guarantee fund, they will contact the country in question for a definitive answer in the individual case. The minimum period abroad is 90 days.

Forms for different countries available here http://www.verbindungsstelle.ch/xml_...on/d51/f61.cfm

Be aware that final taxation is based on the country you live in at the time of payout, the Swiss withholding tax is possibly irrelevant as it can be reclaimed & then used towards your new liability in your new place of residence. If you have no liability in your new country then the Swiss withholding tax can't be reclaimed.
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  #290  
Old 20.08.2017, 11:31
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Re: Swiss pensions consolidated summary

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If your money is one of those accounts and you have also left CH, you need to check with the bank to see what the rules say about withdrawals.
Not correct, the Bank have no input in the matter, it's the Swiss LOB guarantee fund that decides & authorises withdrawals.
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  #291  
Old 20.08.2017, 11:32
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Re: Swiss pensions consolidated summary

Thanks for the replies. And in EU what is the procedure to collect the first pillar money once one retires?
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  #292  
Old 20.08.2017, 11:43
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Re: Swiss pensions consolidated summary

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Not so. The bank does have a set of regulations. Within these regulations there is a part that needs to be consulted. It is the part pertaining to withdrawals. This would be a possible point of help to anyone with one of these accounts who for whatever reason is considering a withdrawal.
To withdraw money from these accounts the application has to be submitted to the bank.
Having left for an EU country & taken 100% from my fund I have some experience in the matter.

The Bank's answer is always it's not possible & they do not make the decision on compulsory insurance requirement, the LOB guarantee fund does.
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Thanks for the replies. And in EU what is the procedure to collect the first pillar money once one retires?
Apply to the Bank that holds your money.
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  #293  
Old 20.08.2017, 11:48
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Re: Swiss pensions consolidated summary

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Apply to the Bank that holds your money.
I was talking about the 1st pillar.
The first pillar money isn't held by the bank right?
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  #294  
Old 20.08.2017, 12:00
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Re: Swiss pensions consolidated summary

Great thread, thank you. Is it possible to receive a UK state pension and a Swiss state pension?
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  #295  
Old 20.08.2017, 12:08
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Re: Swiss pensions consolidated summary

Thanks a lot guys, it's much more clear now!
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  #296  
Old 20.08.2017, 18:50
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Re: Swiss pensions consolidated summary

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I also have experience in the matter.

The bank does have a set of regulations. Within these regulations there is a part that needs to be consulted. It is the part pertaining to withdrawals. This would be a possible point of help to anyone with one of these accounts who for whatever reason is considering a withdrawal.

To withdraw money from these accounts the application has to be submitted to the bank.
Rules for withdrawal of second pillar governed by law, nothing in the Banks T&C's can override this in any way.
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Great thread, thank you. Is it possible to receive a UK state pension and a Swiss state pension?
Yes you can, I should get a full UK one plus 20 years of a Swiss one.
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  #297  
Old 23.08.2017, 08:46
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Re: Swiss pensions consolidated summary

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Normally, how do people leaving in EU countries collect their swiss pension?
It depends which pillar you are referring to, as generally you will have at least two pensions running in Switzerland.

The first pillar is the state pension.
I don't know if you can withdraw this before time.

The second pillar is your employment pension, where you and your employer have been paying money into over time.
If you are no longer under contract in Switzerland and have left for an EU country and/or are already living in the EU but previously worked here, you may be able to withdraw your second pillar.

Ordinarily, if you were informed correctly or if you did things correctly, you will have transferred your second pillar employment pension into a special bank account (Freizügigkeitskonto) from which only under certain circumstances it is possible to withdraw part/all of the money before you reach pension age.

So if you have one of these accounts which is still open/running in Switzerland, you need to contact that bank and they will advise you on how to proceed. There will be a form to fill in and documentation to provide which you then submit to that bank who will process your application then inform you if you are able to withdraw.

If your money was never transferred to one of these accounts though, you will need to contact (all of) your former employers in Switzerland to ask who their pension company is (if you don't already know it). Once you have that information, contact that pension company, as they currently hold your money.
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  #298  
Old 24.08.2017, 09:45
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Re: Swiss pensions consolidated summary

if a Person coming from EU Country, leave Switzerland for a non EU Country can withdraw all his Pension Money? (Pillar 1 + Pillar 2)


What Kind of proof he has to provide?
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  #299  
Old 24.08.2017, 09:56
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Re: Swiss pensions consolidated summary

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if a Person coming from EU Country, leave Switzerland for a non EU Country can withdraw all his Pension Money? (Pillar 1 + Pillar 2)


What Kind of proof he has to provide?
Where is the money now? In a pension fund or in a bank account (Freizügigkeitskonto)? I am referring to pillar 2.
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  #300  
Old 24.08.2017, 10:21
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Re: Swiss pensions consolidated summary

Money is still in Pension fund. He will leave by end of this year.
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