When one has a break between jobs is the money that one paid into the Pension Fund then put in a vested pension account ( Freizügikeitkonto ) until one starts the next job. When one starts the next job is this money automatically transferred to the new Pension Fund from the Freizügikeitskonto ? Or does one have to arrange this?
When you start a new job you yourself need to apply with the old pension fund for that to be transfered, not done automatically. Don ́t know what happens if you have a gap in between jobs and if that is similar
So if one does not do that the money is then put in this Freizügikeitskonto? Do they ask first before they put the money in such an account. Seems they did it to me many years ago and its been sitting there ever since ( was unknown to me what this account was )
They now want to pay this money out to me-with reaching 70 years of age.
I have 3 Freizugigkeit kontos, but have now moved them to the same bank. (Some now invested in managed funds which is better than the next to zero interest that these accounts attract)
When you do contract /freelance work, the pension firm usually offers the lowest deal (including BVG insurance) just to cover the minimum legal requirement for the agency. Never got asked to merge mine, so I just let them lie.
You are probably better off just withdrawing it all and paying about 8% tax - but make sure that you do it all at once. There is some rule that states that you can only do this once every 5 years. Not sure if it age related.
The Freizügigkeitskonto can stay open even when you start a new job. You are not obliged to transfer anything anywhere. The new employer can't know if you have one or indeed if you have more than one. There's nothing automatic about the transfer. The old employer can't also know where you are working next, particularly if there is a gap.
Then could I now pay this money into my Pension Funds or is it too late with 70 years of age and on the pension?
You should see what your pension fund says about it maybe. Are you 70? Are you already drawing a pension?
Not sure. This question will arise for me too. I have a small pension, but also a small job from which pension contribution deductions are made. I have no idea what will happen when I finish the job as then the employer will want to pay the money out, so I guess I will open a Freizügigkeitskonto.
Just get it out cash. Then invest it anyway you want.
Main problem with these accounts are that if you die, the system takes most of the money away. Your wife will get the basic widows pension, but not all the money in the account.
I am just waiting for judge to rule on a BVG insurance issue and then I will clear out all my accounts (nearly 60 and 100% IV)
Surely if you are on 100% IV then the pension fund(s) is(are) being used to pay that pension?
Been dragging on through lawyers and courts for 2 years. Which insurance pays? In the meantime, the pensions in the Freuzugigkeit kontos are proving a liability. They are counted as a Vermogen and cut 1000chf a month off Erganzungleistung payments.
That's obscene. Those accounts are meant to be tax free and not counted as part of Vermögen. So EL counts them whilst tax office doesn't?!
I have a rechtschutzanwalt and she told me that this is normal for the EL. Pro Infirmis told me to leave my pension in the Freizugigkeit kontos until I get a judgement - otherwise the EL will claim back their money from this.
The Swiss have everything neatly worked out so that not much money escapes.
All of the pension money is in Freizügigkeitskontos or some money is still with a pension fund as well?
And different pension funds are arguing who is 'leistungspflichtig' and are refusing to pay your invalidity pension, do I understand correctly?
You open a Freizügigkeitskonto at a bank of your choice and tell the old "Pensionskasse" where to transfer it to.
When you start a new job, you get the information of your new "Pensionskasse" and tell your bank to transfer it there.
You must transfer it into the new one.
TIS, you do all the work.
But this part is not compulsory. And not all employers/jobs have a Pensionskasse.
Basically it is a problem about when the actual date of the "problems" started. It involves 2 insurance companies and the Stiftung Auffangeinrichtung BVG. My rights lawyer has presented the case to the court and now I must wait months for a judgement.
I am just not sure if whoever has to pay the insurance will require all the money from my Freizugigkeit kontos. From my side, I would prefer to take this and go and spend a few years in a cheap place. The IV and EL does not give much of a life.
Good thing is that any judgement gets backdated to 2014
You have to transfer that:
Treten die Versicherten in eine neue Vorsorgeeinrichtung ein, so müssen die Freizügigkeitseinrichtungen das Vorsorgekapital für die Erhaltung des Vorsorgeschutzes der neuen Vorsorgeeinrichtung überweisen. Die Versicherten melden:
a. der Freizügigkeitseinrichtung den Eintritt in die neue Vorsorgeeinrichtung;
b. der neuen Vorsorgeeinrichtung die bisherige Freizügigkeitseinrichtung
sowie die Form des Vorsorgeschutzes.
FZG
Although I have not read anywhere what happens if you do not.
Some sort of Pensionskasse needs to exist if you have employees who are participating in Säule 2 due to the amount earned.