Thank you
Can anyone share which bank/institutions offers the best conditions for vested benefits account to deposit the second pillar money - with higher interest rates and lowest costs?
Via and Finoension regularly recommended on here.
FTFY
VIAC and FinPension
Thank you. What about SwissLife? They have these offer: https://ch.swisslife-am.com/content/…/de/f/dm15.pdf
No clue about that product, but:
- With other two mentioned providers you have near total freedom of portfolio composition
- SwissLife rings the "linked with life insurance" bell (not saying this product is) - definitely be aware to stay away from any combined products (e.g. plenty of people burned by getting lured into 3a + life insurance combos)
I am looking for a vested benefit account or fund to park my 2nd pillar money for some time while I will not be working (no combined products with life insurance). I am quite confused about the differences between offers from the banks and other organizations, such as SwissLife or other mentioned above. Thank you
General question about vested benefits account. If you leave your job and transfer to finpension.....do you HAVE to roll over the account to your new job once you come there?
Yes. No idea though what happens if you don‘t.
When I started my new job the pension fund asked for it and the one from my old company also wrote to me.
Your company pension fund likely has a rule in it that you must transfer it.
Also no idea what happens if you don't. I know people who have not.
It will not impact your immediate emergency benefits but will impact your pension payout - would say if you are taking lump sum then no impact.
But again no idea what happens if you do not do it.
Thanks to @kris & @ch2013 ! - finpension may be just what I was looking for in my earlier post and I have asked them if the are open for business to non-residents...
@kiwiguy08 - Regarding your question about 'roll over'...
I believe that you are certainly expected to but as others have stated, there may be no immediate consequences if you don't.
It may be the case that your 2nd pillar provider is required to have visibility of all of your 2nd pillar assets so that they can accurately state what you 'mandatory' benefits are vs. any 'supplementary' benefits if you know what I mean by that?
I now find myself with two vested benefits accounts: One from a foundation which clearly shows the split and a separate vested benefits account with my bank which does not.
On the topic of having to roll your pension into your new employer fund - i think there may be some important detail to that. My understanding is that you must transfer enough to be sufficiently insured with the new employer (I guess that will depend on your new insured salary, age etc.) - however if you have for example a large extra-mandatory (non-BVG) element from previous employers that may not need to be transferred. I have no direct references, but it is the impression i got when reading some stuff a while back - would be great if anyone is able to confirm. Whether you need to already split this when leaving your current employer (pension can be transferred to 2 independent free-standing accounts, does not have to be kept in a single one) is also not clear.