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  #301  
Old 24.08.2017, 10:29
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Re: Swiss pensions consolidated summary

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Money is still in Pension fund. He will leave by end of this year.
They will require proof that you have been living in the new country (probably for 6 months + 1 day) , proof of registration with tax authorities if no other form of residents documentation from new country. There may well be tax consequences in the new country when you get your Swiss pension.
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Old 24.08.2017, 10:37
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Re: Swiss pensions consolidated summary

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Money is still in Pension fund. He will leave by end of this year.
It could be worth transferring the money into a special bank account in the meantime. Thereafter it may be easier to withdraw the money once departed.
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  #303  
Old 24.08.2017, 11:08
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Re: Swiss pensions consolidated summary

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It could be worth transferring the money into a special bank account in the meantime. Thereafter it may be easier to withdraw the money once departed.
There is no choice in the matter as it's a legal requirement to do so
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  #304  
Old 24.08.2017, 11:30
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Re: Swiss pensions consolidated summary

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It could be worth transferring the money into a special bank account in the meantime. Thereafter it may be easier to withdraw the money once departed.


but requirement will be same? live outside for 6 months + 1 day, submit proof of documents and then Transfer Money to bank account of Country living in. right?


if I understood correctly if he go back to his home country (EU) then he must wait until he reaches to his retirement Age. can he withdraw certain % at the time of leaving? Problem with him is that he is in need of money badly. neither he can wait for 6 months nor his retirement Age.


any suggestion? solution?
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Old 24.08.2017, 11:35
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Re: Swiss pensions consolidated summary

It was my understanding that the entire amount (Pillar 2) can be withdrawn in cash after deregistering from Switzerland.
There is another thread somewhere on this site about this.

The bank will require the confirmation of you leaving Switzerland which you receive when you deregister.
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  #306  
Old 24.08.2017, 11:37
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Re: Swiss pensions consolidated summary

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but requirement will be same? live outside for 6 months + 1 day, submit proof of documents and then Transfer Money to bank account of Country living in. right?


if I understood correctly if he go back to his home country (EU) then he must wait until he reaches to his retirement Age. can he withdraw certain % at the time of leaving? Problem with him is that he is in need of money badly. neither he can wait for 6 months nor his retirement Age.


any suggestion? solution?

Yes

Possibly, it depends on the insurance requirements & your employment status in the new country. I took 100% of my Pillar 2 aged 52 leaving for an EU country so it's possible despite the fact I was told it was impossible by my pension provider in CH.

I made a thread on the subject, if you search you can find it.
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  #307  
Old 28.08.2017, 10:42
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Re: Swiss pensions consolidated summary

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I made a thread on the subject, if you search you can find it.
https://www.englishforum.ch/finance-...s-pension.html
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  #308  
Old 29.08.2017, 09:54
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Re: Swiss pensions consolidated summary

Hello guys,

Thanks a lot for the summary, specially the opening post which was very useful

I have a question on the 2nd pillar and what would happen in the unlikely event of bankruptcy. The PF from the company where I work is managed in-house and it invests in company shares, real estate and other assets.

1) Is the money that I have contributed guaranteed in case of bankruptcy (similar to the CHF 100k for the bank accounts) or only a part of it? Can I actually lose that money if they mess up on the investment strategy?

2) Let's say the company decides to close down the Swiss branch and outsource everything abroad. If the fund has to be liquidated in a 'rush', I assume there will be some losses...The x% that they guarantee every year (2% in our case), is that also applicable?

Sorry if the questions are rather basic, but I'm thinking on buying in the company PF and I wanted to be sure that the money is 'safe'.

Thanks a lot guys
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  #309  
Old 29.08.2017, 11:14
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Re: Swiss pensions consolidated summary

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Hello guys,

Thanks a lot for the summary, specially the opening post which was very useful

I have a question on the 2nd pillar and what would happen in the unlikely event of bankruptcy. The PF from the company where I work is managed in-house and it invests in company shares, real estate and other assets.

1) Is the money that I have contributed guaranteed in case of bankruptcy (similar to the CHF 100k for the bank accounts) or only a part of it? Can I actually lose that money if they mess up on the investment strategy?

2) Let's say the company decides to close down the Swiss branch and outsource everything abroad. If the fund has to be liquidated in a 'rush', I assume there will be some losses...The x% that they guarantee every year (2% in our case), is that also applicable?

Sorry if the questions are rather basic, but I'm thinking on buying in the company PF and I wanted to be sure that the money is 'safe'.

Thanks a lot guys
1) sort of, but not against poor investment decisions.
2) they can't liquidate the fund, the money does not belong to the company, it belongs to future & present pensioners.
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  #310  
Old 01.09.2017, 20:52
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Re: Swiss pensions consolidated summary

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There is no choice in the matter as it's a legal requirement to do so
Plenty of people leave it with the pension fund though. Some people forget about it, some people don't even know it's there. Does an account get opened for these people in these cases or does it remain with the fund?
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  #311  
Old 03.09.2017, 16:41
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Re: Swiss pensions consolidated summary

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Plenty of people leave it with the pension fund though. Some people forget about it, some people don't even know it's there. Does an account get opened for these people in these cases or does it remain with the fund?
The company is not allowed to retain it in it's own fund for more than 6 months after leaving, it will get moved into a personal one
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  #312  
Old 03.09.2017, 16:55
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Re: Swiss pensions consolidated summary

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Plenty of people leave it with the pension fund though. Some people forget about it, some people don't even know it's there. Does an account get opened for these people in these cases or does it remain with the fund?
First it will be sepearted from the normal pension fund and converted into an account. Means you will no longer participate in any potential extra gains. Latest after two years without any instructions the funds will be moved to a separte, named account with the central collection pot from the Stifung Auffangeinrichtung BVG http://www.chaeis.net/
Any one can request information if they may have funds in their name, and then get it transferd to an other pillar two compatible account, fund etc.

https://www.srf.ch/sendungen/kassens...schen-sie-nach
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  #313  
Old 03.09.2017, 20:36
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Re: Swiss pensions consolidated summary

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named account with the central collection pot from the Stifung Auffangeinrichtung BVG http://www.chaeis.net/
Any one can request information if they may have funds in their name, and then get it transferd to an other pillar two compatible account, fund etc.

https://www.srf.ch/sendungen/kassens...schen-sie-nach
Thank you. And I did exactly this and actually found something, and after minimal paperwork was able to withdraw in cash.
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Old 12.09.2017, 23:23
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Re: Swiss pensions consolidated summary

Hi, thanks for this thread. I have read all pages. After reading about AHV I applied for my statement. I have only done seasonal work in Switzerland. I'm pretty sure that only compulsory payments were taken from my wage as I didn't volunteer any money! I worked here from '96 to '99 which is why I am so vague about it :P Are the amounts on the statement my earnings rather than contributions towards a pension? How do I find out if I have any money that I can access to pledge towards a mortgage? My husband has worked here longer than me (he is Swiss) but because he has mostly lived in Australia he does not know how this works either. Thanks in advance.
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Old 12.09.2017, 23:25
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Re: Swiss pensions consolidated summary

also, if I had any second pillar contributions would I know about it? thanks
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Old 13.09.2017, 09:10
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Re: Swiss pensions consolidated summary

I have checked my husband's recent payslips and he does have BVG-Beitrag coming out for his last job. Where would it go? How do we track down the account? I thought that was what I was doing when I requested the AHV documents, but it seems like it is not that easy. ON his current payslip he has Berufliche Vorsorge, could that be BVG as it is the same percentage as the last job's payslip that called it BVG? Thank so much
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Old 13.09.2017, 09:19
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Re: Swiss pensions consolidated summary

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I have checked my husband's recent payslips and he does have BVG-Beitrag coming out for his last job. Where would it go? How do we track down the account? I thought that was what I was doing when I requested the AHV documents, but it seems like it is not that easy. ON his current payslip he has Berufliche Vorsorge, could that be BVG as it is the same percentage as the last job's payslip that called it BVG? Thank so much
The employer should have given him the pension contract as part of the stuff when he joined; and he should get an annual statement from the pension company.

He should ask his employer.

When you move companies, normally the BHV balance is transferred from the old provider to the new one; this is also normally part of the process - you get a form from the old provider and one from the new one so they can arrange this.
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Old 13.09.2017, 09:32
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Re: Swiss pensions consolidated summary

Thanks newtoswitz! My husband can be a little bad with remembering details, but the last new job only started in June so I can only assume that a few different accounts have been started as I would hope he would remember filling in a form to transfer this money. He has only ever done short term contracts, I wonder if some accounts have gotten misplaced along the way. Thanks for your response
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Old 13.09.2017, 10:02
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Re: Swiss pensions consolidated summary

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Thanks newtoswitz! My husband can be a little bad with remembering details, but the last new job only started in June so I can only assume that a few different accounts have been started as I would hope he would remember filling in a form to transfer this money. He has only ever done short term contracts, I wonder if some accounts have gotten misplaced along the way. Thanks for your response
There is no requirement to pay a second pillar on contract less than 3 months.
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Old 13.09.2017, 10:13
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Re: Swiss pensions consolidated summary

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There is no requirement to pay a second pillar on contract less than 3 months.
But there's definitely a requirement for the company to pay it into a BVG account if they take it out of his salary, which seems to be the case if it's on the payslip.
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