2nd Pillar Pension Transfer

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2nd Pillar Pension Transfers

RECENTLY CHANGE JOBS OR LEFT SWITZERLAND? DO YOU KNOW YOUR OPTIONS REGARDING Your 2nd PILLAR?

There are broadly 2 options – leave the money here, or take it with you. If you leave it here you must transfer your pension from your company to a Vested Benefits account. If you want to take the money when you leave Switzerland, the tax you pay on exit will depend on which canton the pension is in, not the canton you live in.
If you do nothing, your pension money will be moved to a government fund called the Substitute Occupational Benefit Institution (SOBI) with lower than average growth. Around 6.3 billion francs currently lie unclaimed in the Substitute Occupational Benefit Institution (SOBI).

We specialise in helping people select and manage the right Vested Benefits account, or take their 2nd Pillar money in the most tax efficient way – the difference on CHF 500,000 is around CHF 5,000-15,000 in tax savings.

CHANGING JOBS

There are also 2 options – move the money to a Vested Benefits account, or move it to your new company pension. If you move it to a Vested Benefits account, you could benefit from lower tax on exit, more control over the investment, and higher growth.

We specialise in helping people select and manage the right Vested Benefits account (with typically 2-3% higher growth), or take their 2nd Pillar money in the most tax efficient way – the difference on CHF 500,000 is around CHF 5,000-15,000 in tax savings.


Source: McLean, M (2014, Jan 3), Pension Billions Lie Unclaimed in Swiss Fund, The Local, www.thelocal.ch