Leaving Switzerland permanently
You can have your leaving benefits paid out to you in cash if you are leaving Switzerland permanently.
For proof, you will have to submit confirmation of your deregistration from your local municipality. Your benefits will be taxed at source if you are no longer a resident of Switzerland by the date of the payment or if at that stage your Swiss residency status is unclear.
To have your benefits paid out to you in cash, you will need your spouse's consent as indicated by your spouse's signature on the form "Swiss Re Pension Fund – leaving Swiss Re”. Your spouse's signature must be certified by a notary public or, having identified themselves by means of an official identity document, your spouse may sign the form in the presence of a Pension Fund Swiss Re employee.
To have your benefits paid out to you in cash if you are not married, you are required to submit proof of your unmarried status.
Any buy-ins made less than three years before you leave the Pension Fund cannot be paid out in cash and will be transferred to a vested-benefits account instead. Any cash payout made during the three-year vesting period will have tax implications for you, as buy-ins made less than three years before your exit will be subsequently taxed as income.
If you do not wish a cash payment, you can maintain your pension coverage by having your leaving benefits transferred to
- A vested benefits account with a bank (UBS vested benefits account or a bank of your choice)
- A vested benefits policy with a life insurer in Switzerland
- The Substitute Occupational Benefits Institution (Stiftung Auffangvorrichtung BVG)
Please send us your filled and signed form "Leaving the Pension Fund" as well as the form "Application for cas payment of leaving benefits upon exit" latest 4 weeks before you leave the company.