What do I have to bear in mind when I leave comPlan? What happens to my vested benefits? Can I also withdraw my retirement capital in cash? What happens if I emigrate? What happens if I become self-employed? For all those who leave a comPlan-affiliated employer, the most important points to consider when leaving the plan.
So, you’re leaving a comPlan-affiliated employer. In this situation, the law requires that your insurance with us be terminated. Saving for retirement stops the moment you leave. You will continue to be insured by comPlan against the risks of death and disability until you join another pension fund, but for no more than one month from the end of your membership. The law says that the retirement savings you have with us must not be allowed to leave the closed circuit of the occupational pension system (2nd pillar) until you retire. We have to transfer it to another pension fund or to a vested benefits foundation. The law allows retirement capital to be paid out early only under certain exceptional circumstances.
Tell us as soon as possible to which account or which policy we are to transfer your withdrawal benefit.
The law requires that all your vested benefits be transferred to the pension plan of your new employer. If you don’t take up a new employment immediately, or cease to be in gainful employment, you must open a vested benefits account with a bank or conclude a vested benefits policy with an insurance company.
You are responsible for ensuring that we are informed of the contact details and account relationships of the new pension fund or vested benefits foundation. To ensure that your pension provision can be continued without interruption, it is recommended that you inform us of these as soon as possible. By the way, all these terms and conditions also apply if you move to Liechtenstein.
If you have reached the age of 58, you can receive a retirement benefit (lifelong pension or lump sum). If you continue to work or look for a job, you can also claim a termination benefit after the age of 58. We will transfer this to the pension fund of your new employer or to a vested benefits institution.
You can withdraw your retirement capital in cash under exceptional circumstances provided for by the law. You can do it if you leave Switzerland for good, become self-employed as your main occupation for the first time, or have very little retirement capital. When you leave, you will automatically receive a form on which to enter the transfer address. Your spouse or registered partner must also sign this, and their signature must be officially certified. We are not allowed to pay out the retirement capital without this confirmation and the documents to be submitted as listed on the form.
If you’re leaving Switzerland for good, you must also let us have a copy of the definitive confirmation of de-registration from the municipality in Switzerland that you last lived in as well as the official confirmation of residence of the new domicile abroad. If you move to an EU/EFTA member state and are subject to compulsory state insurance there, the agreement on the free movement of persons means we can’t pay you the compulsory portion of the retirement savings in cash. You are then obliged to transfer this balance to a vested benefits account with a bank or to conclude a vested benefits policy with an insurance company. The non-mandatory part of the termination benefit can be paid out in cash if you wish. If you emigrate to a country outside the EU/EFTA, we will transfer the entire vested benefit in cash on request, unless this is prohibited by a treaty between Switzerland and that country.
If you’re leaving Switzerland for good and want to take your withdrawal benefit in cash, submit the definitive confirmation of departure from your last municipality of residence in Switzerland as well as the official confirmation of residence of the new domicile abroad.
You can take your withdrawal benefit in cash if you are becoming self-employed as your main occupation for the first time. You also have to provide us with the decision of the AHV Compensation Fund that you are self-employed as your main occupation. We will contact you if we need further documents. However, withdrawal in cash is permitted only if you are not voluntarily insured as a self-employed person in the occupational pension system.
If you’re becoming self-employed and wish to receive your termination benefit in cash, you must, in addition to the bank transfer details form, submit the final decision of the AHV Compensation Fund that you are self-employed as your main occupation.
We can also pay out your retirement capital in cash if your departure payment is less than the sum of your annual employee contributions.
If you want to know how much the total of your annual contributions is, you can find it on your statement of insurance on comPlan Online.