Are there other options? Can it be transferred into some sort of a locked-in swiss pension account ( 2. or 3. Saeule) without losing anything? Or do we leave it all here until retirement age , convert it to a RIF (can we even do that from abroad) and then take a pension from it? In that case does it get taxed at less than 25%?
Anyone know?
That means that you can leave the money in CAN until you retire or I have been told once you have moved (and it is clear you have "left" CAN), you can withdraw the money with a 25% penalty. Once in CH, it is just cash and part of your "fortune" for tax purposes.
To be sure, do a bit of Google on pension plan transfers CH and CAN with the word agreement. The law might have changed recently.
Couldn't find that facebook group maybe it is hidden?
We have hired a tax advisor versed in overseas dealings that our bank recommended to figure out our best options. I read something that if you take out a monthly pension instead of the lump sum out of the rrsps you only pay 15% withholding tax. If this is true than that is the route we will take, and just leave all the money here for now. Then we have to figure out what kind of accounts to use for that purpose in both countries so we don't have to pay huge amounts in bank charges for wire transfers. Hopefully the tax advisor can give us some clearer options.
The also suggest to invest your max before you leave.
When I moved 5yrs ago I was advised to leave both my RRSP and my LIRA in Canada and They have both been sitting there since. When you move and register as a non resident the bank will have you fill out some forms but otherwise no action.
I would also suggest getting a tax advisor for your last Canadian and your first swiss tax return. It made thing did much easier that year and is worth the fees. I have done my own taxes every year since.