Taking pension out of Switzerland

[natalgrafan]

I'd like give information that I got from the Authority.

Since those two pension are handled by different organization and

processes we can't simply say one rule for every case.

1. 1st Pillar ( AHV )

In this case, your nationality is the main factor,

a. If there is a social security agreement your country and Switzerland,

your 1st Pillar will be transferred your destination contry.

b. If there is no social security agreement your country and Switzerland,

you can ask refund ( both your contribution and employer's ).

Reimbursement is only possible if you:

- have paid OASI/DI contributions for at least one full year;

- leave Switzerland permanently. Your spouse and children under 25 years of age

also have to leave the country9;

- are not already receiving an OASI/DI pension.

2. 2nd Pillar (retirement pension)

Under EU law, a refund of contributions is not permitted if the person concerned is still required to have insurance cover in another Member State of the EU or EFTA. The liability for compulsory pension, disability and survivors' benefit insurance is determined by the law of the particular country. In this context, a person’s nationality is not essential. What is important is the country the person is going to move to.

- If a person leaves for a member state of the European Union (or EFTA), cash payment is only possible if the person does not need to have compulsory pension, disability and survivors’ insurance in the country he/she moves.

· - A person that moves to a country that does not belong to the EU/EFTA can claim the refund of his/her contributions without any further restrictions.

Example ) Korean ( lived CH ) -> UK -> back to Korea That means, if you move to Korea several years later, cash payment of your Swiss savings capital will then be possible. You can then contact directly the establishment that is keeping your vested benefit account (which will probably be a Swiss bank). The answer to the question if a refund of British savings capital will be possible or not depends on the British law and has to be answered by the competent British authorities.

Here are contacts :

1st Pillar : [[email protected]](mailto:[email protected])

2nd Pillar : [[email protected]](mailto:[email protected])

[kalexamolette]

you should call AHV organization in Geneva and they will tell you exactly how to take them out and it would be better off to invest by yourself than leaving it behind since there are holes in the pension fund depend on which canton you are living and by the age of retirement pension will not be able to pay the amount you deserve.

[ambrexxeni]

I don't know about other countries but when my British husband (then fiance) immigrated to Canada he had to provide proof of his de-registration from Switzerland and proof that he was in Canada and then all of his pension funds were released into his bank account for him to transfer to wherever he wished. It was an incredibly simple and painless process.

I believe they took off a minimal tax amount from one form of pension before they released it.

[julls]

From a practical point of view - how can you cash anything that hasn't been paid yet?

I mean I'll have to leave as soon as my contract expires, but I assume I'll receive my final settlement just before that. So how can I cash before? Is it possible at all?!

[Kyrosaruler]

Hi All

Done a bit of digging the archives but don't see an answer to my question - can anyone point me to it ?

I worked for 9.5 years in Switzerland. Have recently moved to UK, de-registered and left for good. My pension balance is currently in a UBS vested benefit account.

Can I transfer the balance to a UK pension scheme or do I need to wait until retirement age to access it ?

Many thanks

Keith.

[Bristiagold]

This seems an informative link (one of the first ten or so posts on this thread):

Swiss pensions consolidated summary

Introduction This post (which I hope a mod may consider making sticky) is to summarize key points relating to Swiss pensions for the employed, particularly British expats. Topics covered: - basic concepts, including the “three pillars” of the Swiss pension system - the second pillar, ie the employers pension scheme - obligatory and non obligatory contributions - using your pension before retirement - transferring your UK pension(s) to your second pillar - leaving Switzerland, taking your pen…

But from memory reading this and others is the answer is yes it’s possible but it’s difficult - although it’s tempting with the franc so strong (/pound so low)

[patbc]

Hello,

This thread has been so helpful, thank you to everyone.

I just have one question that I don't seem to find an answer for:

my 2eme pillier company, Baloise, asks at present 3% to extract the monies, but is there any company that charges less that anyone knows about?

and/or

is there a way to avoid having to pay this amount when taking the monies out ?

many many thanks, Linda

[marcleo_sg]

Are you talking about the 2nd pillar ?