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Old 09.09.2011, 14:59
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Where to deposit the Second pillar?

Hello everybody!

I was working for the Swatch group and quit because I will study at EPFL 100%. Therefore I do not have any other institution of "prevoyance professionel" where the second pillar can go. I am requested to open an account in a bank or assurance company.
Do you have any suggestions?
As far as I understand, the difference is the interest they give for the money. Though I do not find any information online about interests for the second pillar for banks or assurance company. Or maybe I am not understanding...
Is it only about the interest? If so, I imagine that my only way of knowing would be asking face to face in each bank or assurnace company, no?

I am very disoriented about this issue and any info will help. Thanks
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Old 09.09.2011, 15:10
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Re: Where to deposit the Second pillar?

You could ask the Migros Bank, they are very generous and socially orientated. If all else fails you can open an account at Credit Suisse or UBS.
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Old 09.09.2011, 15:43
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Re: Where to deposit the Second pillar?

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You could ask the Migros Bank, they are very generous and socially orientated. If all else fails you can open an account at Credit Suisse or UBS.
Are you sure, I thought it had to be a pension foundation like Swiss Life.
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Old 09.09.2011, 15:44
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Re: Where to deposit the Second pillar?

Many banks have these accounts, frozen until you retire.
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Old 09.09.2011, 15:48
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Re: Where to deposit the Second pillar?

It's called a vested benefits account. It's an account into which you can pay money, receive interest, but cannot withdraw from, except to put into a pension fund or a similar account with someone else. You can use as pledge, or take early withdrawal for a mortgage.
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Old 09.09.2011, 15:59
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Re: Where to deposit the Second pillar?

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Many banks have these accounts, frozen until you retire.
I've heard that the foundation should be based in a low tax canton like Zug, which charges the lowest tax when you cash in the fund.
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Old 09.09.2011, 16:36
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Re: Where to deposit the Second pillar?

Yes, and check the terms of the account operator - do they allow withdrawals (according to the BVG rules) for home ownership, if so how often and up to what age etc. Although the basic rules are set by BVG/LOB I think the vested benefit account can add restrictions beyond these.
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Old 09.09.2011, 17:05
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Re: Where to deposit the Second pillar?

Thanks for your knowledge! I did not considered choosing a canton with low tax nor paying close attention to the restrictions thinking it was the same everywhere. Good to learn!

Thanks everybody and if someone else has something to add, I will be more than happy to know.
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Old 09.09.2011, 18:01
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Re: Where to deposit the Second pillar?

Check with HR in EPFL. They use Publica as their 2nd Pillar provider (at least till last year). You should be able to transfer your funds there.
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Old 30.10.2011, 22:12
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Re: Where to deposit the Second pillar?

Hi
I have some additional question, when you left the country is possible to transfer this money to another EU pension found, not to be frozen in Swiss bank until pension.
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Old 30.10.2011, 23:48
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Re: Where to deposit the Second pillar?

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Hi
I have some additional question, when you left the country is possible to transfer this money to another EU pension found, not to be frozen in Swiss bank until pension.
Yes that is possible. But the Swiss bank with CHF has given best long term rewards. (Up until now that is! )
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Old 01.11.2011, 20:40
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Re: Where to deposit the Second pillar?

I don't have to much money and personally I'm not interesting to store this money here. I just need to now if is possible to transfer this money, all this, not just only a part.
What I understand is possible to take a part of this money by normal transfer and most of them are keep here until I go to pension.
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Old 01.11.2011, 20:54
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Re: Where to deposit the Second pillar?

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Yes that is possible. But the Swiss bank with CHF has given best long term rewards. (Up until now that is! )
With very restricted investment options, not sure mainly CHF is what I would want.
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Old 01.11.2011, 21:46
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Re: Where to deposit the Second pillar?

I had found out that Swiss Post Finance offered the best returns and terms to park your second pillar funds, The term used here is Libre Passage.
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