Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation
Reply
 
Thread Tools Display Modes
  #61  
Old 18.04.2011, 22:11
saharanz's Avatar
Senior Member
 
Join Date: Apr 2007
Location: Winterthur
Posts: 409
Groaned at 0 Times in 0 Posts
Thanked 258 Times in 138 Posts
saharanz has an excellent reputationsaharanz has an excellent reputationsaharanz has an excellent reputationsaharanz has an excellent reputation
Re: Swiss pensions consolidated summary

I have a question about getting pension back for a UK citizen who is moving to a non-EU country (New Zealand) directly from Switzerland. Is it likely that we will get it back?
Reply With Quote
  #62  
Old 03.06.2011, 19:40
Longbyt's Avatar
Forum Legend
 
Join Date: Apr 2008
Location: ZH
Posts: 8,132
Groaned at 64 Times in 60 Posts
Thanked 12,980 Times in 4,732 Posts
Longbyt has a reputation beyond reputeLongbyt has a reputation beyond reputeLongbyt has a reputation beyond reputeLongbyt has a reputation beyond reputeLongbyt has a reputation beyond reputeLongbyt has a reputation beyond repute
Re: Swiss pensions consolidated summary

For other questions on the subject, here's another link. Open the PDF on the right
Overview of Social Security in Switzerland.

(probably in here already somewhere but I didn't see it)
Reply With Quote
  #63  
Old 28.07.2011, 14:53
Member
 
Join Date: Aug 2007
Location: Nyon
Posts: 192
Groaned at 3 Times in 1 Post
Thanked 27 Times in 20 Posts
Lizard_day is considered knowledgeableLizard_day is considered knowledgeableLizard_day is considered knowledgeable
Re: Swiss pensions consolidated summary

This posting is excellent well done!
I have a question concerning using your "LPP" and buying property:

I already used my LPP to purchase a flat. Now I wanted to sell and move or wait to move. I was told by my notary that I should check as the LPP is "reimbursed to them". I am worried as I thought the monies from the sale apart from the notary fees etc etc. would then be yours?.

Is it true you cant cash in on your LPP after the sale of the apartment and they take it back....

Thanks
Reply With Quote
  #64  
Old 28.07.2011, 16:18
jaudi's Avatar
Forum Veteran
 
Join Date: Sep 2007
Location: zurich
Posts: 520
Groaned at 4 Times in 4 Posts
Thanked 445 Times in 208 Posts
jaudi has an excellent reputationjaudi has an excellent reputationjaudi has an excellent reputationjaudi has an excellent reputation
Re: Swiss pensions consolidated summary

I'm not familiar with the term LPP, but if you mean you cashed in your pillar 2 pension to pay some of the capital of the property, then I believe this is supposed to be paid back into the pension in the event you sell your property. I was not aware that this was enforced via the notary, but maybe it is.
Reply With Quote
  #65  
Old 28.07.2011, 16:35
Member
 
Join Date: Aug 2007
Location: Nyon
Posts: 192
Groaned at 3 Times in 1 Post
Thanked 27 Times in 20 Posts
Lizard_day is considered knowledgeableLizard_day is considered knowledgeableLizard_day is considered knowledgeable
Re: Swiss pensions consolidated summary

Thanks yep I, it is LPP or vested benefits or 2eme pillar. I thought once you had it it was yours.... mmmm.

I was considering selling and then buying maybe a few years down the road... and using the cash now to rent for a while or just to use. I suppose that isnt an option to have the money back in your account and using it .. I suppose the notary has to notify them. In the sale document the notary had to agree to release the LPP but you are right why should the notary be the one to inform them to pay it back... I guess it is automatic.

Thanks!
Reply With Quote
  #66  
Old 19.08.2011, 12:29
29eleven's Avatar
Member
 
Join Date: Jul 2008
Location: Zürich
Posts: 161
Groaned at 0 Times in 0 Posts
Thanked 10 Times in 8 Posts
29eleven has no particular reputation at present
Re: Swiss pensions consolidated summary

Great info about 2nd & 3rd pillar withdrawals, but what happens to all the money contributed to the 1st pillar upon retirement or when one leaves the country (for a EU or non-EU country?)

Curious.
Reply With Quote
  #67  
Old 19.08.2011, 12:36
jaudi's Avatar
Forum Veteran
 
Join Date: Sep 2007
Location: zurich
Posts: 520
Groaned at 4 Times in 4 Posts
Thanked 445 Times in 208 Posts
jaudi has an excellent reputationjaudi has an excellent reputationjaudi has an excellent reputationjaudi has an excellent reputation
Re: Swiss pensions consolidated summary

I believe that for EU citizens it remains in switzerland and you eventually receive a state pension from switzerland - it cannot be transferred out. For non-EU I believe there are ways to apply to have it refunded, at least in some cases if not all.
Reply With Quote
  #68  
Old 19.08.2011, 13:02
29eleven's Avatar
Member
 
Join Date: Jul 2008
Location: Zürich
Posts: 161
Groaned at 0 Times in 0 Posts
Thanked 10 Times in 8 Posts
29eleven has no particular reputation at present
Re: Swiss pensions consolidated summary

Thanks!

Anyone in the process of applying and can share on this? Would be good to know about this.

Quote:
View Post
I believe that for EU citizens it remains in switzerland and you eventually receive a state pension from switzerland - it cannot be transferred out. For non-EU I believe there are ways to apply to have it refunded, at least in some cases if not all.
Reply With Quote
  #69  
Old 04.01.2012, 16:55
dannyt986's Avatar
Forum Veteran
 
Join Date: May 2005
Location: Wollerau, Schwyz
Posts: 1,814
Groaned at 25 Times in 18 Posts
Thanked 710 Times in 477 Posts
dannyt986 has a reputation beyond reputedannyt986 has a reputation beyond reputedannyt986 has a reputation beyond reputedannyt986 has a reputation beyond repute
Re: Swiss pensions consolidated summary

Thanks to everyone who contributed since this original post and taught me something too...

This links are interesting and pickup on some of the discussion.

i) It seems it is only the COMPULSORY part of the second pillar savings that cannot be withdrawn in cash. Most employers pay benefits considerably more than the legal minimum particularly if you earn more or have a management plan.

See http://www.verbindungsstelle.ch/xml_...on/d51/f61.cfm

When I wrote original the post, it seemed to be common understanding that release was not possible outside of Switzerland or frontier regions, even though the relevant law http://www.admin.ch/ch/d/sr/8/831.411.de.pdf doesnt say that. But it does indeed seem this is now possible regardless of where your principal residence is; however it must be for your principal residence. For german speakers google "wohneigentum-foerderung ins ausland .ch" for a number of links on the topic.

Daniel
Reply With Quote
  #70  
Old 04.01.2012, 17:27
Nanda's Avatar
Forum Veteran
 
Join Date: May 2005
Location: Zurich
Posts: 818
Groaned at 2 Times in 1 Post
Thanked 175 Times in 118 Posts
Nanda has earned the respect of manyNanda has earned the respect of manyNanda has earned the respect of many
Re: Swiss pensions consolidated summary

I'd heard from someone that for a married couple reaching the pensionable age - one of the 1st pillar pensions (usually the wife's) is lost.

Is this true?

And sorry to keep with the negative theme but if something were to happen to you, your 2nd pillar will be lost. You can't will it to anyone else except your spouse.

Just what I heard informally. My german isn't good enough for me to check this up and a lot of people don't seem to know the details.

Thanks,
Nanda.
Reply With Quote
  #71  
Old 18.01.2012, 22:35
mbalbo's Avatar
Junior Member
 
Join Date: Feb 2010
Location: Zurich
Posts: 35
Groaned at 0 Times in 0 Posts
Thanked 3 Times in 3 Posts
mbalbo has no particular reputation at present
Re: Swiss pensions consolidated summary

Hello!

First of all, I've to say "thank you" for this post and and also all the other ones explaining how the pension system works, I've spent the last 3 days reading this, why? Because, for some personal issues, I've decided to leave CH in 3/4 months.

I arrived here on april/2010, but till 09/2010 I worked as a contractor (paid per day by the company as an external consultant), and since 10/2010 I got a full time position as a normal employee. Since this date the company also is paying the pension scheme (If I didn't misunderstood, 2nd pillar, right?)

So my questions are:

- I'm working here as a EU resident, but actually I'm from southamerica. So, can I still withdraw my pillar 1 and pillar 2 even if for the authorities I am from EU?

- From the second pillar, I think I can only withdraw 50% of what I have in my entitlement of vested benefits, the rest remains with the employer?

- As far as I understood, this process has to be handled via HR? How long could it take? Or shall I contact HR for the pillar 2 and the gemeinde for the pillar 1?

Thanks a lot for your help
M
Reply With Quote
  #72  
Old 19.01.2012, 10:32
dannyt986's Avatar
Forum Veteran
 
Join Date: May 2005
Location: Wollerau, Schwyz
Posts: 1,814
Groaned at 25 Times in 18 Posts
Thanked 710 Times in 477 Posts
dannyt986 has a reputation beyond reputedannyt986 has a reputation beyond reputedannyt986 has a reputation beyond reputedannyt986 has a reputation beyond repute
Re: Swiss pensions consolidated summary

Quote:
View Post
So my questions are:

- I'm working here as a EU resident, but actually I'm from southamerica. So, can I still withdraw my pillar 1 and pillar 2 even if for the authorities I am from EU?

- From the second pillar, I think I can only withdraw 50% of what I have in my entitlement of vested benefits, the rest remains with the employer?

- As far as I understood, this process has to be handled via HR? How long could it take? Or shall I contact HR for the pillar 2 and the gemeinde for the pillar 1?

Thanks a lot for your help
M
As I understand, but without fact checking:

- You have been here more than a year so you are outside the short contribution period of less than one year

- It's not your nationality, residence or domicile that counts but where you are moving to that determines if you can withdraw

- You cant get the first pillar back, but you may be entitled to some small pension from CH when you retire

- The second pillar has two components a minimum state amount that you can only get back if you move outside EU/EFTA and, probably, a supplementary amount you can get back in any event

- Your HR department is a good first step but unless they are used to this, good luck. Gemeinde is I suspect the wrong place for sure.
Reply With Quote
  #73  
Old 14.04.2012, 21:41
Member
 
Join Date: May 2009
Location: Zurich
Posts: 244
Groaned at 1 Time in 1 Post
Thanked 103 Times in 57 Posts
pabcbc is considered knowledgeablepabcbc is considered knowledgeablepabcbc is considered knowledgeable
Re: Swiss pensions consolidated summary

Hello, quick question since I am moving out soon to EU country. I work for UBS so they will move my pension accruals to their foundation in Basel, probably easier for me just to let them do this, I don't intend to withdraw anything anytime soon.

Pls confirm (anybody) that when I do retire (if) I will still be able to more from UBS foundation into another foundation (in SZ or wherever is cheaper in 20 years' time) prior to transferring to my retirement country ? I probably can ask them but if anybody has the answer, thanks in advance
Reply With Quote
  #74  
Old 15.04.2012, 17:25
Cambo351's Avatar
Member
 
Join Date: Aug 2009
Location: Sydney, Australia
Posts: 106
Groaned at 0 Times in 0 Posts
Thanked 100 Times in 44 Posts
Cambo351 has earned some respectCambo351 has earned some respect
Re: Swiss pensions consolidated summary

Just found this document on the website http://www.bsv.admin.ch/themen/ueber...x.html?lang=en

Seems to explain everything....

72253_BBL_Brosch_e.pdf
Reply With Quote
  #75  
Old 02.07.2012, 19:59
Senior Member
 
Join Date: Jun 2007
Location: Zurich
Posts: 263
Groaned at 70 Times in 33 Posts
Thanked 192 Times in 116 Posts
mishimishi is considered unworthymishimishi is considered unworthymishimishi is considered unworthy
Re: Swiss pensions consolidated summary

I am having problems getting my LPP funds from Zurich Kantonal Bank. I officially left Switzerland but was waiting for this money to go back to Canada. The Berater at the ZKB tols me to use my Swiss phone number and address in my form and now zhe ZKB refuses to give me my money until I have proof of Canadian residency but I cannot get there without the money. Help please!
Reply With Quote
  #76  
Old 02.07.2012, 20:02
dannyt986's Avatar
Forum Veteran
 
Join Date: May 2005
Location: Wollerau, Schwyz
Posts: 1,814
Groaned at 25 Times in 18 Posts
Thanked 710 Times in 477 Posts
dannyt986 has a reputation beyond reputedannyt986 has a reputation beyond reputedannyt986 has a reputation beyond reputedannyt986 has a reputation beyond repute
Re: Swiss pensions consolidated summary

Quote:
View Post
I am having problems getting my LPP funds from Zurich Kantonal Bank. I officially left Switzerland but was waiting for this money to go back to Canada. The Berater at the ZKB tols me to use my Swiss phone number and address in my form and now zhe ZKB refuses to give me my money until I have proof of Canadian residency but I cannot get there without the money. Help please!
Are you in Canada or not? I'm not surprised they are a bit cautious (although it doesnt like they are descriminating against you).

Daniel
Reply With Quote
  #77  
Old 02.07.2012, 20:08
dannyt986's Avatar
Forum Veteran
 
Join Date: May 2005
Location: Wollerau, Schwyz
Posts: 1,814
Groaned at 25 Times in 18 Posts
Thanked 710 Times in 477 Posts
dannyt986 has a reputation beyond reputedannyt986 has a reputation beyond reputedannyt986 has a reputation beyond reputedannyt986 has a reputation beyond repute
Re: Swiss pensions consolidated summary

Quote:
View Post
Great info about 2nd & 3rd pillar withdrawals, but what happens to all the money contributed to the 1st pillar upon retirement or when one leaves the country (for a EU or non-EU country?)

Curious.
You may well be able to claim a partial Swiss state pension. My father lived in Switzerland for about 5 years in the late 80's and now has a Swiss pension, ditto one from Germany, France, the UK and US where he worked too.
Reply With Quote
  #78  
Old 02.07.2012, 20:44
Senior Member
 
Join Date: Jun 2007
Location: Zurich
Posts: 263
Groaned at 70 Times in 33 Posts
Thanked 192 Times in 116 Posts
mishimishi is considered unworthymishimishi is considered unworthymishimishi is considered unworthy
Re: Swiss pensions consolidated summary

Quote:
View Post
Are you in Canada or not? I'm not surprised they are a bit cautious (although it doesnt like they are descriminating against you).

Daniel
No, but would like to go but don't have the funds. Last time I did this, it was through the LPP itself and it was easy. That was three years ago. This time, the ZKB is making it very difficult although I pffered to give them a Canadian telephone number and address but their employee said that wasn't necessary
Reply With Quote
  #79  
Old 31.07.2012, 17:19
cricketer's Avatar
Forum Veteran
 
Join Date: Mar 2007
Location: near zurich
Posts: 1,198
Groaned at 29 Times in 22 Posts
Thanked 1,051 Times in 427 Posts
cricketer has a reputation beyond reputecricketer has a reputation beyond reputecricketer has a reputation beyond reputecricketer has a reputation beyond reputecricketer has a reputation beyond repute
Re: Swiss pensions consolidated summary

As one gets older this topic becomes more important!!
I have a typical 2nd pillar occupational scheme. Each month I pay about 12.5% of my gross salary together with an equal amount from the company into a typical pension/insurance arrangement with one of the big providers.
I have been looking at the costs charged to me ie money deducted from above before it gets into the pot. In total this runs into 5 figures!!!
After more investigation it is clear that about half of this amount is insurance premiums (death/disability etc). The remainder must go in costs and I have asked the provider to clarify and explain.
The point is it amounts to about 20% of that which goes into the pension pot. This seems very high to me.
So I wondered how this 20% compares to you folks in the same situation??
Reply With Quote
  #80  
Old 27.08.2012, 20:00
Newbie
 
Join Date: Aug 2011
Location: Chavornay, Vaud
Posts: 6
Groaned at 0 Times in 0 Posts
Thanked 1 Time in 1 Post
Zalustra has no particular reputation at present
Re: Swiss pensions consolidated summary

The quoted Credit Suisse link in the OP no longer worked for me, but I found this link which has some useful information:

https://www.credit-suisse.com/ch/pri...eule/index.jsp
Reply With Quote
Reply

Tags
avs, bvg, contributions, leaving switzerland, lpp, pillars, sticky thread, swiss pension, tax saving, vested benefits




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Summary of Cycling Events in Zurich dakman Sports / Fitness / Beauty / Wellness 22 23.03.2016 13:20
Swiss & UK pensions - confused & need help Flower Finance/banking/taxation 10 28.01.2015 09:34
What pensions become GVAbound Finance/banking/taxation 6 07.12.2008 00:23
Consolidated "Unicef/Craig" thread craig_nelson Employment 23 19.04.2007 15:36
Email summary of postings Diem Forum support 0 24.12.2005 09:14


All times are GMT +2. The time now is 23:23.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0