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Old 25.02.2020, 15:12
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Pension withdrawal - UK

I left CH 3 years ago, I have 36k in a vested benefit account (stiftung auffangeinrichtung) made up only of basic mandatory payments.
As for as I can see there is no way to move from CH to the UK.
New interest rates at 0.01% means that 36k will get destroyed by inflation.
I am 20 years from retirement.

Is there ANYTHING better I can do, or do I just watch it wither away?
Any suggestion that Brexit will break the withdrawal deadlock?

Thanks in advance for replies - Steve
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Old 25.02.2020, 17:14
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Re: Pension withdrawal - UK

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I left CH 3 years ago, I have 36k in a vested benefit account (stiftung auffangeinrichtung) made up only of basic mandatory payments.
As for as I can see there is no way to move from CH to the UK.
New interest rates at 0.01% means that 36k will get destroyed by inflation.
I am 20 years from retirement.

Is there ANYTHING better I can do, or do I just watch it wither away?
Any suggestion that Brexit will break the withdrawal deadlock?

Thanks in advance for replies - Steve
If you were self employed in the UK or unemployed I believe you are NOT required to be insured so could take the cash in full.
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Old 25.02.2020, 17:30
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Re: Pension withdrawal - UK

The Association of Swiss Abroad (ASO) has a webpage on this topic. In addition to fatmanfilms input regarding self-employment in an EU country, there are several other possibilities to withdraw Pillar II capital:

https://www.aso.ch/en/consultation/l...of-the-capital
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Old 26.02.2020, 15:17
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Re: Pension withdrawal - UK

You can move the money from the Stitung Auffangeinrichtung to a private vested benefit account which allows you to invest into funds.
https://web.aeis.ch/EN/pages/208/Tra...s%20foundation
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Old 26.02.2020, 17:45
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Re: Pension withdrawal - UK

Quote:
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I left CH 3 years ago, I have 36k in a vested benefit account (stiftung auffangeinrichtung) made up only of basic mandatory payments.
As for as I can see there is no way to move from CH to the UK.
New interest rates at 0.01% means that 36k will get destroyed by inflation.
I am 20 years from retirement.

Is there ANYTHING better I can do, or do I just watch it wither away?
Any suggestion that Brexit will break the withdrawal deadlock?

Thanks in advance for replies - Steve
Contact your Swiss bank. There are some options, I believe. There is some route where, IIRC, you can have it paid out to a mortgage provider, or as part of a home purchase. I forget the details but I know our Swiss bank was very helpful with the whys and wherefores. I believe it is subject to UK tax though.
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