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  #81  
Old 17.10.2012, 10:21
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Re: Swiss pensions consolidated summary

I recently set up my own company, and transferred my Pillar 2 from my previous employment to a large insurance supplier in Switzerland. I'm not happy with them, and would like to transfer the money to another supplier - is this possible, and what sort of penalties might apply, please?
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  #82  
Old 17.10.2012, 10:32
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Re: Swiss pensions consolidated summary

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I recently set up my own company, and transferred my Pillar 2 from my previous employment to a large insurance supplier in Switzerland. I'm not happy with them, and would like to transfer the money to another supplier - is this possible, and what sort of penalties might apply, please?
I presume the company employs you? If you control the company of course you can change who the provider is. As a company there may be penalties depending on what you agreed to. As a employee, there should not be penalties. BUT, without much info its hard to be precise.
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  #83  
Old 17.10.2012, 14:23
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Re: Swiss pensions consolidated summary

Ask your provider. It'll be based on your contract with them.
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  #84  
Old 17.10.2012, 14:27
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Re: Swiss pensions consolidated summary

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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.
The notary controls the cash transfer. They also only release it when the mortgage if any is repaid and any other claims or pledges. Effectively your pension has a claim on your property resale. The alternative is the mortgage having a claim on your pledged assets/pensions.

In addition they wait for you to complete a Grundstückgewinsteuer declaration with the local tax office to assess any liability there if you sell at a "profit".

Other state enforceable claims may also be assessed such as general taxes, child care, Betreibungen etc.

When you purchased did you sign two sets of documents? 1. With the seller, and one with the bank/pension? This may represent a further claim.
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  #85  
Old 10.02.2013, 23:59
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Re: Swiss pensions consolidated summary

Hello,

I did not get too well the part on 2nd pillar.

1) Is there any fiscal benefits in taking money out of it ? You can only take out money to buy a swiss home right ?

2) Contributions: What is the point of contributing your 2nd pillar from your foreign accounts ? Those contributions are deducted from your salary when it comes to revenue tax ? Do you get attractive/better returns if you contribute more to your 2nd pillar ? I have started working here at 23/24 so I can not do it ?
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  #86  
Old 19.02.2013, 14:52
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Re: Swiss pensions consolidated summary

Lets say person x has been in switzerland and has earned an average of chf 120k per year over 10 years. He has an "average" company pension scheme, which automatically pays in from his salary, and he makes no 3rd pillar savings. How much, very approximately, should he have in his pension pot? Anyhow able to provide a quick back of envelope calculation?
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  #87  
Old 19.02.2013, 15:29
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Re: Swiss pensions consolidated summary

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Lets say person x has been in switzerland and has earned an average of chf 120k per year over 10 years. He has an "average" company pension scheme, which automatically pays in from his salary, and he makes no 3rd pillar savings. How much, very approximately, should he have in his pension pot? Anyhow able to provide a quick back of envelope calculation?
Depends a lot on their age as contribution rates (employee + employer) range quite widely. Plus there is generally an insurance amount in the contributions, which I assume offsets the savings interest.

But ballpark 120-25 AHV=95k*14%*10=125-150kchf, unless the back of my envelope is wonky.
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  #88  
Old 19.02.2013, 15:41
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Re: Swiss pensions consolidated summary

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Lets say person x has been in switzerland and has earned an average of chf 120k per year over 10 years. He has an "average" company pension scheme, which automatically pays in from his salary, and he makes no 3rd pillar savings. How much, very approximately, should he have in his pension pot? Anyhow able to provide a quick back of envelope calculation?
Should? More than person x currently has All kidding aside, why don't you ask your person x's employer about your person x's present contribution? If that is indicative of your person x's average contribution, your answer is roughly ten times your present contribution.
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  #89  
Old 19.02.2013, 17:35
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Re: Swiss pensions consolidated summary

Don't you get a yearly statement? It depends on the risk contribution and investment contribution matching permitted by your plan and employer.

So 100-200k ballpark.
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  #90  
Old 22.02.2013, 16:00
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Re: Swiss pensions consolidated summary

I worked in switzerland for 10 years aprox paid insurance though work i think and now i am retire was just wondering if i can claim back any think ? just wounder how many like me have paid in and got nothing back over the years
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  #91  
Old 22.02.2013, 16:17
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Re: Swiss pensions consolidated summary

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I worked in switzerland for 10 years aprox paid insurance though work i think and now i am retire was just wondering if i can claim back any think ? just wounder how many like me have paid in and got nothing back over the years
You certainly should be able to claim some Swiss state pension.

Maybe even some capital and or pension from your employer depending on when you were here and what arrangements they had in place.

You dont really say when you worked here or where you are from/live now (oh I see in the UK... should be easy enough)

My father, who lives in the UK claimed Swiss pension for when he lived here in the mid 80s, when he retired 5 years ago. At least in the UK there is government service that supports claiming pensions from other EU countries, now including Switzerland.
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  #92  
Old 22.02.2013, 16:25
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Re: Swiss pensions consolidated summary

You should contact the pension service. Here is a link, not quite the precise subject, but clearly this department should be your starting point. https://www.gov.uk/state-pension-if-you-retire-abroad
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  #93  
Old 11.03.2013, 16:56
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Re: Swiss pensions consolidated summary

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Should? More than person x currently has All kidding aside, why don't you ask your person x's employer about your person x's present contribution? If that is indicative of your person x's average contribution, your answer is roughly ten times your present contribution.
I have worked for several companies during my time here and am not always sure of how each company treated it. Plus my earnings have been quite variable.
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  #94  
Old 08.04.2013, 14:40
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Re: Swiss pensions consolidated summary

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Introduction

This post is to summarize key points relating to Swiss pensions for the employed, particularly British expats.

- obligatory contributions

Self employed have somewhat different rules
Do you know how AVS contributions are calculated for the owners / shareholders of GmbH?

Do they need to be "employed" by the company they own and pay themselves a minimum salary in order NOT to have their AVS contributions calculated on the basis of their wealth? What is the minimum salary (per couple) as one spouse can be employed and they can be making sufficient AVS contributions in order to meet the quota for a married couple?

Are there any exceptions for entrepreneurs who are setting up a new business so that they are not considered persons without employment that therefore need to pay on basis of wealth? Usually businesses take a few years to make a profit. Do Swiss have any benefits, tax breaks or incentives for new businesses being set up?

Does AVS contribution amount differ from Canton to Canton?

Does one need to pay where one lives or where GmbH is registered?

Thanks
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  #95  
Old 08.04.2013, 14:46
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Re: Swiss pensions consolidated summary

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Do you know how AVS contributions are calculated for the owners / shareholders of GmbH?

Do they need to be "employed" by the company they own and pay themselves a minimum salary in order NOT to have their AVS contributions calculated on the basis of their wealth? What is the minimum salary (per couple) as one spouse can be employed and they can be making sufficient AVS contributions in order to meet the quota for a married couple?

Are there any exceptions for entrepreneurs who are setting up a new business so that they are not considered persons without employment that therefore need to pay on basis of wealth? Usually businesses take a few years to make a profit. Do Swiss have any benefits, tax breaks or incentives for new businesses being set up?

Does AVS contribution amount differ from Canton to Canton?

Does one need to pay where one lives or where GmbH is registered?

Thanks
AVS is calculated on salary paid by company.
AVS is never calculated on wealth
There is a minimum AVS payment for people who don't work, approx but not exactly 475 a year.
AVS is the same in all cantons
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  #96  
Old 08.04.2013, 14:50
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Re: Swiss pensions consolidated summary

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Do you know how AVS contributions are calculated for the owners / shareholders of GmbH?

Do they need to be "employed" by the company they own and pay themselves a minimum salary in order NOT to have their AVS contributions calculated on the basis of their wealth? What is the minimum salary (per couple) as one spouse can be employed and they can be making sufficient AVS contributions in order to meet the quota for a married couple?

Are there any exceptions for entrepreneurs who are setting up a new business so that they are not considered persons without employment that therefore need to pay on basis of wealth? Usually businesses take a few years to make a profit. Do Swiss have any benefits, tax breaks or incentives for new businesses being set up?

Does AVS contribution amount differ from Canton to Canton?

Does one need to pay where one lives or where GmbH is registered?

Thanks
There is no AVS for shareholders of a business as it is an employment related tax.

I assume you are also active in the company in which case the authorities will expect a salary commensurate with the position in and size of the business to be drawn. So there is a period of grace for owner-managers where you could not pay yourself at all or little but bear in mind you are not insured at all or for very much during that time.

AVS is the same everywhere. It will be paid to the local cantonal AHV authority based on your budgeted declared payroll (quarterly or monthly) and tru-ed up each year.

It sounds like you need to find an accountant that can help you with this stuff and other topics like VAT and tax returns for the company.
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  #97  
Old 08.04.2013, 14:54
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Re: Swiss pensions consolidated summary

In respect of inward investment incentives, certain cantons do offer breaks to companies guaranteeing to create jobs.

These normally take the form of income tax holidays for a period, maybe some modest tax breaks for high earning expats and generally support for finding premises, getting authorisations etc.

Search "promotion economique" or "standortförderung". Normally from 10+ jobs there can be some discussion I believe.
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  #98  
Old 08.04.2013, 16:29
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Re: Swiss pensions consolidated summary

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AVS is calculated on salary paid by company.
AVS is never calculated on wealth
There is a minimum AVS payment for people who don't work, approx but not exactly 475 a year.
Not true! AVS is calculated on wealth when there is no income.
See www.svazurich.ch/pdf/2.03d.pdf
"Als Grundlagen für die Berechnung der Beiträge an die AHV ... dienen das Vermögen ....Bei Verheirateten bemessen sich die Beiträge für jeden Ehegatten, ungeachtet des Güterstands, auf der Hälfte des ehelichen Vermögens"
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Old 08.04.2013, 16:37
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Re: Swiss pensions consolidated summary

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...

AVS is the same everywhere. It will be paid to the local cantonal AHV authority based on your budgeted declared payroll (quarterly or monthly) and tru-ed up each year.

It sounds like you need to find an accountant that can help you with this stuff and other topics like VAT and tax returns for the company.
AVS is the same everywhere. BUT the social security authorities also collect the FAK from the employer.
http://www.svazurich.ch/internet/de/...licht/fak.html
Each canton has its own rates. So an entrepreneur would need to factor that in picking company location.
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  #100  
Old 08.04.2013, 17:09
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Re: Swiss pensions consolidated summary

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Not true! AVS is calculated on wealth when there is no income.
See www.svazurich.ch/pdf/2.03d.pdf
"Als Grundlagen für die Berechnung der Beiträge an die AHV ... dienen das Vermögen ....Bei Verheirateten bemessen sich die Beiträge für jeden Ehegatten, ungeachtet des Güterstands, auf der Hälfte des ehelichen Vermögens"
Interesting.
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