Advice on pension

Finance, Taxes, Banking, Insurance and Retirement
1
Hi,

Am a Non-EU resident about to start receiving pension in my home country, one with which Switzerland has a social security agreement. Need some advice on how to handle this, whether to transfer, tax implications, etc. Are there any consultants / lawyers who can help me navigate this?

Many thanks in advance,

2
Have you or are you working here? If so then you have to apply for AHV here in Switzerland and they will figure it out with your homeland. Which I assume is Spain?

3
Non-EU.

Working here but not sure for how many more years. So I need to figure out issues with transferring the corpus here and what happens if I leave after a couple of years.

4
Are you leaving before retirement? Or after?

5
Hopefully after retirement, if.

Here for 8 years now, retired in home country, have another 7 years to go before reaching statutory retirement age here, cannot be sure about the employment situation going forward. Also not sure if I will want to or will be able to stay on here after I retire / stop working here. So need someone to explain the pros and cons of transferring the pension fund for someone in my situation.

6
Pillar 1 should be simple.

As to Pillar 2, all depends on if and where you want to take a monthly pension, if you want to have it paid out, where the pension fund is based, what country you want the cash transfered to.

Get some proper advice, ask your bank to give you an idea or ask a Treuhand?

7
Yes, I asked for a consultant / "pension lawyer'.

Didn't know my bank could advise me on this.

8
Pension funds are not usually so easily transferable, especially once you have started receiving any benefits from these. You may, however, get options to take a proportion of the pension as a lump sum. Of course you can specify where those benefits are to be paid.

The entitlement to a foreign state pension depends on arrangements between countries as you have already mentioned.

But I guess you have to find out from the foreign pension fund what options you still have and then, secondly, if you have a choice, consider which is the best.

If you are a Swiss resident and are receiving an old age pension from your home country, then usually that pension is taxed in Switzerland and not in your home country. In any case, it should appear on your Swiss tax form.

9
They can't they are salesmen for the banks products and won't have the depth of knowledge about the procedures in your home country.

10

Here’s a financial advice company with advisors who might know how to make the calculations you need.
https://www.vermoegenszentrum.ch/pensionierung

11
Just make sure to block their number afterwards as they will try calling you often.

12
😂😂😂