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Old 06.08.2010, 14:19
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Withdrawing pension fund for property in UK

I'm due to leave Switzerland in the coming weeks and understand that I can withdraw the full amount of my pension fund (pillars 1 and 2) for a property.

We actually already own a house in the UK with a mortgage, which is due to be renewed early next year. What I would like to do is to withdraw the pension contributions to pay off part of the mortgage when we remortgage. Does anyone know if this is possible? And how to go about it?

Also, I am planning to deregister in Switzerland at the end of this month. I understand that the level of taxation will be different if I transfer the pension contributions to the UK before or after deregistering. Can someone explain the difference and which will the most beneficial timing for me to do this?

Thanks very much.
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Old 06.08.2010, 15:34
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Re: Withdrawing pension fund for property in UK

You should probably check the Finance section of this forum, as I think this has already been answered.

A few things to note.

I don't think you can "withdraw" the full amount.
I believe this applies to pillars 2 and 3, but not 1.
If you are going to EU, I think it has to stay in the pension.
Also, it must be a primary residence, and not sure if it works for already purchased property.
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