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Old 06.12.2012, 18:30
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Moving back to the UK and withdrawing pension

Hi all,

Ive googled but cannot find a straight answer, hopefully someone here can tell me. Im due to leave Switzerland permanently at the end of this month for the UK, after spending 2 years working here. Ive made the AVS and LPP (pillar 1 and 2)contribution, but no pillar 3 payments. Can I have the AVS and/or the LPP payments refunded as cash? My employer isnt helping me much in terms of telling me what to do and what Ive read is confusing me no end. Thanks
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Old 06.12.2012, 18:46
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Re: Moving back to the UK and withdrawing pension

Not a pension expert but from the first time I resided in CH (back again now) I was told that EU citizens can no longer extract the pension pot unless at retirement age.

You will need someone to confirm this
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Old 06.12.2012, 19:06
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Re: Moving back to the UK and withdrawing pension

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Not a pension expert but from the first time I resided in CH (back again now) I was told that EU citizens can no longer extract the pension pot unless at retirement age.

You will need someone to confirm this
Isn't there some clause that allows the money to be taken out for purchase of a house?
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Old 06.12.2012, 19:13
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Re: Moving back to the UK and withdrawing pension

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Isn't there some clause that allows the money to be taken out for purchase of a house?
only for purchase of primary residence or you can withdraw it if you are self-employed. however you can transfer the pot to another employer pension fund in UK if you so wish; not personal ones.
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Old 06.12.2012, 21:04
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Re: Moving back to the UK and withdrawing pension

You can withdraw pillar 2 (possibly with some restrictions) for main residence purchase / mortgage paydown, but not pillar 1. That remains locked in the swiss system until retirement, at which time you will be paid from it.AFAIK.
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Old 06.12.2012, 21:46
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Re: Moving back to the UK and withdrawing pension

so does the withdrawel of pillar 2 still count if you move back to uk and want to use the money to buy a house there?
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Old 06.12.2012, 21:58
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Re: Moving back to the UK and withdrawing pension

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Hi all,

Ive googled but cannot find a straight answer, hopefully someone here can tell me. Im due to leave Switzerland permanently at the end of this month for the UK, after spending 2 years working here. Ive made the AVS and LPP (pillar 1 and 2)contribution, but no pillar 3 payments. Can I have the AVS and/or the LPP payments refunded as cash? My employer isnt helping me much in terms of telling me what to do and what Ive read is confusing me no end. Thanks

Seek and ye shall find.....
http://www.bsv.admin.ch/themen/ueber...x.html?lang=en
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Old 06.12.2012, 22:05
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Re: Mkoving back to the UK and withdrawing pension

Is your 2nd pillar with Zurich Kantonal Bank? If so, move it to any other bank or to the LPP itself. You can expect a 6 month wait before you get your 2nd pillar back.
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Old 06.12.2012, 22:45
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Re: Moving back to the UK and withdrawing pension

The link entered by the last poster, is not valid if moving to an eu country.

Here is the right doc

http://www.ahv-iv.info/andere/00134/..._JjKbNoKSn6A--
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Old 06.12.2012, 23:51
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Re: Moving back to the UK and withdrawing pension

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The link entered by the last poster, is not valid if moving to an eu country.

Here is the right doc

http://www.ahv-iv.info/andere/00134/..._JjKbNoKSn6A--
Apologies, my mistake.
Still a good read though. Especially good for insomnia.
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Old 07.12.2012, 00:11
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Re: Moving back to the UK and withdrawing pension

my understanding is:-

AVS (Swiss old age state pension) stays in the Swiss system. You get a Swiss "old age" pension at retirement age , currently 65 for males

Pillar 2 - you can take cash if:-

1. You leave Switzerland permanently and retire (no gainful employment). We are talking EU/EFTA here.
If you are not of retirement age and continue working in an EU/EFTA country you must transfer the funds to a new scheme or leave it where it is ie. you must be in an employed scheme.
2. You stay in Switzerland and become self-employed.
3. Buy a house in Switzerland gives you access to some cash.

Last edited by cricketer; 07.12.2012 at 00:17. Reason: bolloxed the buttons
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Old 07.12.2012, 08:58
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Re: Moving back to the UK and withdrawing pension

Extract from link above:

Can a person use his or her vested benefits to fund home owner- ship in an EU or EFTA member state?

Yes, if the requisite conditions are met.
Individuals who are insured and resident in an EU or EFTA member state may request the use of their occupational benefit plan assets to finance a home for their own or their fami- ly’s use.

END

By vested benefits, do they mean the whole pillar 2 pension or just a part of it?
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Old 07.12.2012, 10:29
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Re: Moving back to the UK and withdrawing pension

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Isn't there some clause that allows the money to be taken out for purchase of a house?
Yes there is but I was keeping it simple. He wants the cash, this is not possible.

So it's no..
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Old 07.12.2012, 11:29
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Re: Moving back to the UK and withdrawing pension

Thanks everyone, especially Macessex79 - that PDF is very useful
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Old 07.12.2012, 12:10
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Re: Moving back to the UK and withdrawing pension

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Yes there is but I was keeping it simple. He wants the cash, this is not possible.

So it's no..
Take money, buy house, sell house, put cash in pocket.
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Old 05.08.2019, 01:44
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Re: Moving back to the UK and withdrawing pension

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Take money, buy house, sell house, put cash in pocket.
I'm looking at the UBS Vested Benefits Foundation paperwork right now and that is explicitly blocked. It seems one must repay your OWN money ! back to Switzerland if the house is sold. To get the cash out there is a requirement that the Land Registry records the obligation to give money to UBS directly in the record for the house !

This seems messed up.
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