When your employment with an affiliated company comes to an end, you have to leave the Pension Fund.
Your leaving benefits comprise:
- The retirement savings capital from the Pension Plan
- The savings capital available in the ER account
- The savings capital in the Capital Plan or the value of the fund units, whichever is higher.
The vested benefit can be applied as follows:
- transferred to the new employer's pension fund;
- transferred to a vested benefits foundation at a bank;
- transferred to an insurer under a vested benefits policy.
An insured can request cash payment of the leaving benefit if
- the insured is permanently leaving Switzerland (subject to international regulations);
- the insured becomes self-employed as their main employment and is no longer subject to the requirement to be a member of an occupational pension plan;
- the leaving benefit amounts to less than one annual contribution by the insured person.
If, despite sending a reminder letter, the Pension Fund Swiss Re does not receive information on the transfer of vested benefits, the leaving benefit will automatically be transferred to the FSOPP Substitute Occupational Benefit Institution (www.aeis.ch) after a period of six months.
If you dissolve your employment after the age of 58, but before age 65, then you have the following two options:
a) Early retirement
- You receive a retirement pension for life.
- You can request to have your retirement savings capital.
- You can also choose any mix of retirement and lump-sum benefits.
b) Leaving the Pension Fund
- You can request to have your vested benefits transferred to your new pension fund or to a vested benefits account with a bank. To have your retirement savings capital transferred as vested benefits, you must either remain gainfully employed or else register as unemployed with your regional employment centre (RAV).
Insured’s aged 58 and above who are leaving the Pension Fund must enter on their “leaving form", whether they wish to draw a retirement pension or whether they want to have their leaving benefits paid out as a lump sum in accordance with the following points.