Go Back   English Forum Switzerland > Help & tips > Leaving Switzerland  
Reply
 
Thread Tools Display Modes
  #1  
Old 10.03.2019, 16:02
Newbie
 
Join Date: Jan 2011
Location: Zurich
Posts: 5
Groaned at 0 Times in 0 Posts
Thanked 2 Times in 2 Posts
tsoper11 has made some interesting contributions
My wife and I are leaving Switzerland after 8 years

We are moving to London and will report our expetience...we have about 3 weeks to go!
Reply With Quote
This user would like to thank tsoper11 for this useful post:
  #2  
Old 10.03.2019, 17:10
Medea Fleecestealer's Avatar
Forum Legend
 
Join Date: Jul 2011
Location: Misery, but not the SoT one
Posts: 20,120
Groaned at 349 Times in 264 Posts
Thanked 14,635 Times in 8,406 Posts
Medea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond reputeMedea Fleecestealer has a reputation beyond repute
Re: My wife and I are leaving Switzerland after 8 years

Good luck with the move, hope it all goes smoothly for you.
Reply With Quote
  #3  
Old 04.04.2019, 20:35
Member
 
Join Date: Dec 2015
Location: Zurich
Posts: 137
Groaned at 2 Times in 2 Posts
Thanked 45 Times in 35 Posts
Dr Mick has earned some respectDr Mick has earned some respect
Re: My wife and I are leaving Switzerland after 8 years

Quote:
View Post
We are moving to London and will report our expetience...we have about 3 weeks to go!
How did that go?
Reply With Quote
  #4  
Old 05.04.2019, 08:50
Horatio Gonzales's Avatar
Senior Member
 
Join Date: Feb 2014
Location: Luzern
Posts: 452
Groaned at 4 Times in 4 Posts
Thanked 136 Times in 79 Posts
Horatio Gonzales has earned some respectHoratio Gonzales has earned some respect
Re: My wife and I are leaving Switzerland after 8 years

Get informed on your Swiss pension status as a priority if not already done so.

Transferring, cashing out, Vested benefits account or other...

Cashing out timing can be important in deciding which country(ies) have rights to tax you on it. Spend a few quid on professional advice in your own self interest. Best of luck with the brave move.
Reply With Quote
This user would like to thank Horatio Gonzales for this useful post:
  #5  
Old 06.04.2019, 16:05
Newbie
 
Join Date: Mar 2018
Location: Zürich
Posts: 8
Groaned at 1 Time in 1 Post
Thanked 0 Times in 0 Posts
Marcel C has become a little unpopularMarcel C has become a little unpopular
Re: My wife and I are leaving Switzerland after 8 years

Hi, did you think in saving taxes regarding your Swiss pension fund assets? When leaving Switzerland, you can withdraw your pension fund assets an pillar 3a.

Kind regards
Marcel Chevrolet

Last edited by 3Wishes; 06.04.2019 at 18:51. Reason: removed ad component
Reply With Quote
  #6  
Old 01.05.2019, 20:51
Newbie
 
Join Date: Mar 2019
Location: uerikon
Posts: 3
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
Scotlander has no particular reputation at present
Re: My wife and I are leaving Switzerland after 8 years

Can anyone advise how long it usually takes for 2nd and 3rd pillar pension payments to be paid out after leaving CH? 3rd pillar is with Credit Suisse. Many thanks.
Reply With Quote
  #7  
Old 02.05.2019, 10:54
Newbie
 
Join Date: Mar 2018
Location: Zürich
Posts: 8
Groaned at 1 Time in 1 Post
Thanked 0 Times in 0 Posts
Marcel C has become a little unpopularMarcel C has become a little unpopular
Re: My wife and I are leaving Switzerland after 8 years

Hi Scotlander,
Your pension fund- and pillar3a-assets can be withdrawn after you have finished your job and after you have deregistrated.
Usually, the transfer takes max 30 days.
But some restrictions apply:
1) No restrictions for pillar 3a


2. Pension fund assets:

2a)When leaving outside the EU: no restrictions
2b) When leaving to the EU:



the mandatory part (LPP) can be taken out only:
-when turning 60 or
-when unsing it for private homeownership, eg. when you buy a house

or apt. or reduce an existing mortgage.

The funds will not be paid out to you, but to the mortgage giving bank.
2b) The "over-mandatory amount is
Reply With Quote
  #8  
Old 02.05.2019, 11:00
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 17,724
Groaned at 282 Times in 231 Posts
Thanked 15,097 Times in 8,405 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: My wife and I are leaving Switzerland after 8 years

Quote:
View Post
Hi Scotlander,
Your pension fund- and pillar3a-assets can be withdrawn after you have finished your job and after you have deregistrated.
Usually, the transfer takes max 30 days.
But some restrictions apply:
1) No restrictions for pillar 3a


2. Pension fund assets:

2a)When leaving outside the EU: no restrictions
2b) When leaving to the EU:



the mandatory part (LPP) can be taken out only:
-when turning 60 or
-when unsing it for private homeownership, eg. when you buy a house

or apt. or reduce an existing mortgage.

The funds will not be paid out to you, but to the mortgage giving bank.
2b) The "over-mandatory amount is
Pillar 2 can be taken if full when moving to an EU country if the person does not need to be insured in their new country. I got a full payout aged 52 when I went to live in Malta. It's a shame people & insurance companies always give out incorrect info, the rules are very clear. There is even a special dept. in Bern to deal with this
Quote:
View Post
Can anyone advise how long it usually takes for 2nd and 3rd pillar pension payments to be paid out after leaving CH? 3rd pillar is with Credit Suisse. Many thanks.
That depends on where you are moving to, for Pillar 2 you will often have to have been resident for over 6 months in your new country of residence. After the actual paperwork is completed in full about 1 week for the money to hit your account.
Reply With Quote
The following 3 users would like to thank fatmanfilms for this useful post:
  #9  
Old 02.05.2019, 11:08
Newbie
 
Join Date: Mar 2018
Location: Zürich
Posts: 8
Groaned at 1 Time in 1 Post
Thanked 0 Times in 0 Posts
Marcel C has become a little unpopularMarcel C has become a little unpopular
Re: My wife and I are leaving Switzerland after 8 years

[QUOTE=Marcel C;3065327]Hi Scotlander,
Your pension fund- and pillar3a-assets can be withdrawn after you have finished your job and after you have deregistrated.
Usually, the transfer takes max 30 days.
But some restrictions apply:
1) No restrictions for pillar 3a


2. Pension fund assets:

2a)When leaving outside the EU: no restrictions
2b) When leaving to the EU:



the mandatory part (LPP) can be taken out only:
-when turning 60 or
-when unsing it for private homeownership, eg. when you buy a house
or apt. or reduce an existing mortgage.

The funds will not be paid out to you, but to the mortgage giving bank.
2b) The "over-mandatory amount is available immediately.


You should however consider the tax advantages when transfering your funds to a canton with lower tax rates.


Kind regards Marcel Chevrolet
Reply With Quote
  #10  
Old 02.05.2019, 12:07
Member
 
Join Date: Apr 2008
Location: Zug
Posts: 114
Groaned at 0 Times in 0 Posts
Thanked 26 Times in 22 Posts
dibbydoo has no particular reputation at present
Re: My wife and I are leaving Switzerland after 8 years

Quote:
View Post
Pillar 2 can be taken if full when moving to an EU country if the person does not need to be insured in their new country. I got a full payout aged 52 when I went to live in Malta. It's a shame people & insurance companies always give out incorrect info, the rules are very clear. There is even a special dept. in Bern to deal with this


That depends on where you are moving to, for Pillar 2 you will often have to have been resident for over 6 months in your new country of residence. After the actual paperwork is completed in full about 1 week for the money to hit your account.
Do you have an updated link to the form on the LOB site? I presume this is especially for anyone returning to the UK and not intending to work pre retirement?
Reply With Quote
  #11  
Old 02.05.2019, 12:46
Forum Legend
 
Join Date: Mar 2013
Location: Formerly in Neuchatel
Posts: 2,697
Groaned at 218 Times in 147 Posts
Thanked 4,708 Times in 1,821 Posts
porsch1909 has a reputation beyond reputeporsch1909 has a reputation beyond reputeporsch1909 has a reputation beyond reputeporsch1909 has a reputation beyond reputeporsch1909 has a reputation beyond reputeporsch1909 has a reputation beyond repute
Re: My wife and I are leaving Switzerland after 8 years

Quote:
View Post
Do you have an updated link to the form on the LOB site? I presume this is especially for anyone returning to the UK and not intending to work pre retirement?
If you're paying national insurance contributions you won't get the mandatory portion back.

You can get the non-mandatory bit back.
Reply With Quote
  #12  
Old 02.05.2019, 13:13
Member
 
Join Date: Apr 2008
Location: Zug
Posts: 114
Groaned at 0 Times in 0 Posts
Thanked 26 Times in 22 Posts
dibbydoo has no particular reputation at present
Re: My wife and I are leaving Switzerland after 8 years

We don't expect to be working and will already have the full NI contributions so no more to be paid. So does that mean we can get all our Pillar 2?
Reply With Quote
  #13  
Old 02.05.2019, 13:38
Forum Legend
 
Join Date: Mar 2013
Location: Formerly in Neuchatel
Posts: 2,697
Groaned at 218 Times in 147 Posts
Thanked 4,708 Times in 1,821 Posts
porsch1909 has a reputation beyond reputeporsch1909 has a reputation beyond reputeporsch1909 has a reputation beyond reputeporsch1909 has a reputation beyond reputeporsch1909 has a reputation beyond reputeporsch1909 has a reputation beyond repute
Re: My wife and I are leaving Switzerland after 8 years

Quote:
View Post
We don't expect to be working and will already have the full NI contributions so no more to be paid. So does that mean we can get all our Pillar 2?
Sounds like it. You'd have to apply through the Swiss LOB fund. When I did this HMRC sent me a letter asking for my NI number (as if they didn't have it anyway?) to confirm my national insurance status.

I was then rejected. I got the non-mandatory part fairly easily though. As with all things Swiss there was a mountain of paperwork and they needed originals for some things.
Reply With Quote
  #14  
Old 02.05.2019, 14:06
Newbie
 
Join Date: Mar 2018
Location: Zürich
Posts: 8
Groaned at 1 Time in 1 Post
Thanked 0 Times in 0 Posts
Marcel C has become a little unpopularMarcel C has become a little unpopular
Re: My wife and I are leaving Switzerland after 8 years

you can receive the non-mandatory part rather quick. The mandatory part (LPP) is availably only if you buy a house - apartment or for paying back an existing mortgage.
But yes, much paperwork required.
Marcel Chevrolet

Last edited by 3Wishes; 03.05.2019 at 14:15. Reason: removed ad component
Reply With Quote
This user groans at Marcel C for this post:
  #15  
Old 02.05.2019, 14:36
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 17,724
Groaned at 282 Times in 231 Posts
Thanked 15,097 Times in 8,405 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: My wife and I are leaving Switzerland after 8 years

[QUOTE=Marcel C;3065330]
Quote:
View Post
Hi Scotlander,
Your pension fund- and pillar3a-assets can be withdrawn after you have finished your job and after you have deregistrated.
Usually, the transfer takes max 30 days.
But some restrictions apply:
1) No restrictions for pillar 3a


2. Pension fund assets:

2a)When leaving outside the EU: no restrictions
2b) When leaving to the EU:



the mandatory part (LPP) can be taken out only:
-when turning 60 or
-when unsing it for private homeownership, eg. when you buy a house
or apt. or reduce an existing mortgage.

The funds will not be paid out to you, but to the mortgage giving bank.
2b) The "over-mandatory amount is available immediately.


You should however consider the tax advantages when transfering your funds to a canton with lower tax rates.


Kind regards Marcel Chevrolet
For the second time you are WRONG, you should use Google rather than pretend you know.

'A person who leaves Switzerland permanently after 31 May 2007 to settle in an EU or EFTA country and who seeks cash payment of his credit balance under an occupational benefit scheme must prove that he is not required to have compulsory pension disability and survivors benefit insurance in the country concerned.'
http://www.verbindungsstelle.ch/xml_...on/d51/f62.cfm

It's a shame you are in Independent Financial Advisor based in Zurich who does not actually know the rules on this, however 2 other insurance companies told me the same bull shit.

It was actually very easy to get my money, I even started a thread about it.
https://www.englishforum.ch/finance-...s-pension.html
Reply With Quote
The following 3 users would like to thank fatmanfilms for this useful post:
  #16  
Old 02.05.2019, 14:41
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 17,724
Groaned at 282 Times in 231 Posts
Thanked 15,097 Times in 8,405 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: My wife and I are leaving Switzerland after 8 years

Quote:
View Post
We don't expect to be working and will already have the full NI contributions so no more to be paid. So does that mean we can get all our Pillar 2?
Yes you should be able to get the money in full. The 'workplace pension' is fairly new legislation, previously anyone could get a refund.
Nothing to stop you getting a job in the UK after the funds are released. Not sure about self employment as in CH the self employed do not need to be insured only employed
Reply With Quote
This user would like to thank fatmanfilms for this useful post:
  #17  
Old 03.05.2019, 15:46
Newbie
 
Join Date: Mar 2018
Location: Zürich
Posts: 8
Groaned at 1 Time in 1 Post
Thanked 0 Times in 0 Posts
Marcel C has become a little unpopularMarcel C has become a little unpopular
Re: My wife and I are leaving Switzerland after 8 years

I know the rules very well: Here's the quote:

http://www.verbindungsstelle.ch/docu...ng_EN_2012.pdf

under point 3:

Benefits concernedThat part of the vested benefit which is derived from a compulsory occupational benefit scheme is concerned. The component of the vested benefit which exceeds the statutory minimum benefit amounts (non-compulsory part) is not affected. Retirement benefits on reaching the ordinary pensionable age or the age of early retirement (insofar as the regulation provides this possibility), as well as disability and death benefits, are likewise not concerned. As a peculiarity of Swiss benefit law, early drawing in favour of owner-occupied home ownership continues to be possible within the range of the compulsory occupational benefit even if the residential property is located in the new EU or EFTA country of residence.

It's the law...
Reply With Quote
  #18  
Old 03.05.2019, 17:32
Forum Legend
 
Join Date: Mar 2013
Location: Formerly in Neuchatel
Posts: 2,697
Groaned at 218 Times in 147 Posts
Thanked 4,708 Times in 1,821 Posts
porsch1909 has a reputation beyond reputeporsch1909 has a reputation beyond reputeporsch1909 has a reputation beyond reputeporsch1909 has a reputation beyond reputeporsch1909 has a reputation beyond reputeporsch1909 has a reputation beyond repute
Re: My wife and I are leaving Switzerland after 8 years

Quote:
View Post
Yes you should be able to get the money in full. The 'workplace pension' is fairly new legislation, previously anyone could get a refund.
Nothing to stop you getting a job in the UK after the funds are released. Not sure about self employment as in CH the self employed do not need to be insured only employed
I know we have discussed this before but when I was declined it was due to my National Insurance status. Nothing to do with my workplace pension.

I actually found the paperwork concerning it the other day. In the bin now.

Quote:
View Post
I know the rules very well: Here's the quote:

http://www.verbindungsstelle.ch/docu...ng_EN_2012.pdf

under point 3:

Benefits concernedThat part of the vested benefit which is derived from a compulsory occupational benefit scheme is concerned. The component of the vested benefit which exceeds the statutory minimum benefit amounts (non-compulsory part) is not affected. Retirement benefits on reaching the ordinary pensionable age or the age of early retirement (insofar as the regulation provides this possibility), as well as disability and death benefits, are likewise not concerned. As a peculiarity of Swiss benefit law, early drawing in favour of owner-occupied home ownership continues to be possible within the range of the compulsory occupational benefit even if the residential property is located in the new EU or EFTA country of residence.

It's the law...
The instances when you can take it out aren't wrong. But they aren't the only ones. You can take it out when going to an EU EFTA country outwith those situations.

Also it needs to be 20k minimum to be used towards a house.
Reply With Quote
  #19  
Old 03.05.2019, 18:10
aSwissInTheUS's Avatar
Forum Legend
 
Join Date: Nov 2007
Location: Zurich area
Posts: 9,942
Groaned at 78 Times in 69 Posts
Thanked 15,022 Times in 6,676 Posts
aSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond repute
Re: My wife and I are leaving Switzerland after 8 years

Quote:
View Post
I know the rules very well: Here's the quote:

http://www.verbindungsstelle.ch/docu...ng_EN_2012.pdf

under point 3:
[...]
It's the law...

and further in the same document under point 4

"If a person with former occupational benefit insurance has left Switzerland
definitely after 31 May 2007 and asks for his vested benefit to be paid out in
cash, the competent pension scheme must check, in addition to the other
conditions for cash payment (definitive departure from Switzerland, written
consent of the spouse etc.), whether the insured person is moving to an EU
or EFTA country, and if so, if he must continue to have compulsory
retirement,
disability and survivor’s benefit insurance (under a state benefit
scheme) in that country. "

and point 5

"If there is no State social insurance obligation, the pension scheme may
pay out the entire occupational benefit savings capital in cash
. In this
connection the administrative provisions of the particular pension scheme
must be noted."

Finally, UK National Insurance is voluntarily if you are not employed nor self-employed.
https://www.gov.uk/national-insuranc...urance-classes
__________________
“That’s the second biggest monkey head I’ve ever seen!”
Reply With Quote
This user would like to thank aSwissInTheUS for this useful post:
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
My parents are leaving Switzerland and i want to stay on the rented house Imbonzo Housing in general 9 11.10.2017 21:51
Left Switzerland - Debt notice 4 years after leaving sparksleo Leaving Switzerland 28 08.07.2016 08:31
Obtaining departure notice two years after leaving Switzerland alefsin Leaving Switzerland 10 01.10.2012 16:23
How I can live in switzerland after finishing my phd and what are my chances ? Tupac Permits/visas/government 9 14.07.2012 15:42
Leaving Switzerland after almost 2 years ivanthegreat Daily life 24 17.09.2011 11:57


All times are GMT +2. The time now is 03:58.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0