I am not very good with money (I understand very little beyond what's in my wallet) but I feel like at 33 I need to start thinking about my future so I was looking at various pension/investment plans.
A little background: I am a Swiss citizen and I have paid the minimal mandatory AVS contributions ever since I was 18 (around 400CHF/year IIRC). When I was 26 I started working and for 3 years I paid full AVS on my salary. At 29 I have left the country for Belgium, where I work and pay all my pension, and my employer provides me with an extra pension plan.
I have some savings in CHF, my Freizugigskeitskonto at UBS and some savings in EUR.
My parents live in CH so I have access to a CH address.
As far as I understand, I can't pay into the 3a pillar since I don't work in CH, but I could access the 3b part.
My rough plan would be to remain in the EU for a couple more years, then try an adventure in north america (most probably Canada). After that who knows, but I think it's wise to consolidate all of my pension in Switzerland: AFAIK it shouldn't be a problem between CH, EU and Canada, might be trickier in case I'd work somewhere else.
What would you suggest is a smart way of saving up for the future?
Can someone help me please with more info. I am a Swiss national from Geneva. I am 72 years old and a retired UN adviser living in Singapore at present with my wife. I left Geneva in 1984 and paid all my AVS and taxes from 1965 till 1984. I worked as a UN field expert in Africa and Asia on and off until a few years ago. I was told that my gross salary had 50% deductions (as a form of taxation) and that as a swiss passport holder, these deductions were sent to the Swiss Govt as part and parcel of the Swiss annual contributions to their UN membership. I still have my Swiss nationality and now wish to return and retire in Geneva. I have very little funds in cash. Will I get a monthly pension and how much from the Geneva Govt and help with financial assistance in funding a small appartment as well as medical insurance assistance ? I will be grateful for any advise the forum can give me. Thanks.
You should have been receiving your Swiss pension since you were 65!! Unlike the UK, this does not come automatically, but it needs to be claimed. I don't know if you can back date your payments though. Google the AHV office you paid into and write them...
Yes BUT: you most definitely should pay a agreed voluntary amount into pillar 1 (the basic pension) while abroad, to ensure you get the maximum at 65 (this will probably be 70 when you get there)...
If you had lived and worked here for 40 years you would get about SFr 2'300 retirement pension from the AVS. You are also expected to have income from a company pension and a private pension. (AHV is German name for AVS)
When the combined income falls below about SFr 3,000 per month, (As a Swiss citizen or 'C' permit holder after living here 10 years) you may claim supplementary payments (prestations-complementaires) which bring your income to a minimum of about SFr 3,000 per month in Bern, plus subsidies to your health insurance (about 30%).
Sorry for the superlate reply. As far as I understand since I'm paying in another EU country, the 1st pillar is covered. I shouldn't have gaps in contribution.
I guess the best thing is to talk to my local insurance when I'm back in CH.
I guess I'm wrong. You can't simply consolidate all your years in different countries as a continuous contribution. When it's retirement time (hehe probably 70 as said above) one gets partial pensions from all the different countries one has contributions in, as long as there is at least one full year.
I suppose it can work out in your favor considering how low the basic pension is if you complete 44 years in CH alone, but it's a hassle.