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Old 11.11.2010, 11:30
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If you spend your LPP do you still have AVS benefits?

Hi, I am completely confused with the pension benefits
If you spend the amount accumulated for LPP on a flat does that mean you have spent all your pension money or do you still have benefits with AVS?

Thanks for letting me know. I worked in a company from 2001 - 6 so probably too late to find out as we are now 2010 but I spent the LPP and assumed that that was the only pension they owed me?

Thanks if you can help me on this.
Liz
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Old 11.11.2010, 19:08
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Re: If you spend your LPP do you still have AVS benefits?

They are seperate.
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Old 11.11.2010, 19:13
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Re: If you spend your LPP do you still have AVS benefits?

I didn't know what LPP stood for .. and then came across this:

Quote:

The following is a rough explanation of the Swiss system. The retirement plan consists of three layers: one which is the same for everyone (AVS), one which is related to your professional activity (LPP), and one which is entirely voluntary.

The second layer (called LPP) is financed by a given amount taken from your gross salary, and again is matched by the employer. This money goes into your “private account". The method used to calculate these amounts is very complicated as this payment will evolve with time, as your gross salary changes. However, the general idea is that when you retire you can either take your LPP in regular instalments or as a lump sum. If you choose to take the LPP in regular monthly payments then the LPP amount, plus the AVS instalment, represents a reasonable percentage of your last salary before you retired (approx 80%).
source

2nd pillar or in DE Säule 2
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Old 28.07.2011, 14:41
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Re: If you spend your LPP do you still have AVS benefits?

JRSPET thanks for the explanation, I was at a loss.

Do you know anything about LPP and buying an apartment? I used my LPP in 2008 to buy a place and was considering selling. If you find something else you can just transfer this to the new place but if you dont the notary said they may have to reimburse the LPP their money!

I thought all the money gets transfered to your account when you sell and it is now yours, but I am not sure that it is?

Hope that made sence
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Old 28.07.2011, 15:35
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Re: If you spend your LPP do you still have AVS benefits?

AFAIK, you need to pay the money back into your PensionFund before you can sell the place. That is, if you are still employed. If you are already a pensioner, then I have no idea, sorry.
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Old 28.07.2011, 16:28
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Re: If you spend your LPP do you still have AVS benefits?

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JRSPET thanks for the explanation, I was at a loss.

Do you know anything about LPP and buying an apartment? I used my LPP in 2008 to buy a place and was considering selling. If you find something else you can just transfer this to the new place but if you dont the notary said they may have to reimburse the LPP their money!

I thought all the money gets transfered to your account when you sell and it is now yours, but I am not sure that it is?

Hope that made sence
you need to pay back the LPP when you sell. Then you can go throught the whole process again if you want to buy again. BTW let me know if you want to sell
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Old 29.07.2011, 16:55
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Re: If you spend your LPP do you still have AVS benefits?

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I didn't know what LPP stood for .. and then came across this:



source

2nd pillar or in DE Säule 2
Thanks a lot, Jrspet.

Does this mean LPP = Pillar 2 and AVS = Pillar 1? Pillar 1 and Pillar 2 seems to to be the more familiar terms, or am I missing something?
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