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Old 01.12.2012, 15:57
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2nd Pillar- Rules to reclaim it

Hi,

I want to to sell my current apartment and buy a new house. I want to know if I can reclaim the 2nd pillar for buying the house before i sell my apartment, as I need the cash
For my current appartment I did not use the 2nd pillar

Thanks

Juan
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Old 01.12.2012, 18:50
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Re: 2nd Pillar- Rules to reclaim it

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Hi,

I want to to sell my current apartment and buy a new house. I want to know if I can reclaim the 2nd pillar for buying the house before i sell my apartment, as I need the cash
For my current appartment I did not use the 2nd pillar

Thanks

Juan
A "2nd Pillar" is the pension fund you build up with your employer.
You can use this to finance the purchase of your main home. You can also use it to reduce your current mortgage (I assume that you have a mortgage on your current apartment). There are of course rules, and usually you cannot simply get a get a cash payment from your pension fund. If you want to get your hands on cash, you may be able to increase your current mortgage if you are not already at the lending limit. If you sell a property which has been partly financed from a pension fund, you may find that you are obliged to return the money to the pension fund. There is also the option of simply pledging the money in your pension fund as security on Mortgage instead of actually extracting the money from the pension fund. May be this helps.
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