Pension PlanDeparture

Departure

If you terminate the employment relationship, your participation in the Pension Fund also comes to an end. How the vested benefits are transferred depends on whether or not you join a new pension fund after your change of job.

As a rule, the Pension Fund will transfer your vested benefits to the pension plan of your new employer. It will continue to cover you for the risks of disability and death, but only up to one month after you leave the Pension Fund.

If you do not start a new job, we will transfer your vested benefits either to a blocked vested benefits account with a bank, according to your choice, or to a vested benefits policy with an insurance company. If you join a pension fund again at a later date, you will be obliged under the Vested Benefits Act to transfer all the assets held in vested benefits accounts or policies to the new pension fund.

Withdrawal of Vested Benefits

If you do not join a new pension fund during your period of gainful employment, your vested benefits accumulated to date can be withdrawn at the earliest five years before and at the latest five years after reaching the normal AHV retirement age (currently 64 for women and 65 for men).

Pension capital can be withdrawn in the following cases defined by law before reaching the AHV retirement Age:

  • If you make an advance withdrawal for home ownership purposes
  • If you repay a mortgage on owner-occupied residential property
  • If you become self-employed
  • If you are self-employed and you invest in your business
  • Permanent departure from Switzerland
  • If you draw a full disability pension from the Federal Disability Insurance (IV)
  • Death

In only two cases, vested benefits may be paid out in cash:

  • If you become self-employed
  • Permanent departure from Switzerland

If you are emigrating to an EU/EFTA member state, the cash payment options are restricted.

You can withdraw the extra-mandatory part of your vested benefits in cash; the withdrawal of the mandatory portion is not possible if you are subject to the mandatory state insurance coverage for retirement, disability, and survivors' benefits in an EU/EFTA member state. Please contact the BVG Security Fund for clarification about your insurance obligations.

If you emigrate to a country outside the EU/EFTA, the withdrawal of the whole vested benefits is possible.
 

Departure Process

If you end the employment relationship with the employer or with a subsidiary of Credit Suisse, the Pension Fund shall be informed automatically by the responsible HR department.

You will receive a form 1 1/2 months before your departure from the Pension Fund. You should complete this form and return it to us at the latest by the beginning of the month in which your employment relationship ends. If you still do not send us the information on where to transfer the assets, we will transfer the balance to a vested benefits account with the Auffangeinrichtung BVG (Substitute Occupational Benefit Institution).