We are happy to listen to the individual concerns of employees whose employers have entrusted their employee benefits insurance to Tellco Pensinvest. The following are the most important areas in which you as an employee can influence your employee benefits insurance.
Please contact us if you wish to take one of the steps listed here or need additional information. If you do not need more information, you can download the forms you need from our download centre.
Purchases of additional pension benefits can be deducted from taxable income. The amount for which additional benefits can be purchased depends on the gap in the insured’s personal insurance coverage. Your personal pension certificate reflects the maximum amount for which you can purchase additional benefits. This maximum amount is reduced by the amount of your Pillar 3a assets, if any, and any vested benefits that have not (yet) been brought into Tellco Pensinvest.
Under the promotion of home ownership scheme (WEF) you can use your pension fund assets to finance the purchase of owner-occupied residential property or to repay outstanding mortgages. The amount that can be withdrawn in advance is shown in your personal pension certificate. Advance withdrawals may only be made every five years. Under certain circumstances the promotion of home ownership scheme can also be used to optimise your tax situation.
If an insured person dies before retirement and no surviving spouse’s, surviving partner’s or orphan’s pensions fall due, all or part of the accrued retirement assets are paid out. The insured person can write to Tellco Pensinvest and freely determine the amounts to be paid out to the beneficiaries in a beneficiary group.
De facto partners (cohabiting partners) are treated the same as spouses at Tellco Pensinvest. If the de facto partner wants to assert a claim to benefits, proof must be provided that he or she lived with the deceased insured in a domestic partnership for an uninterrupted period of five years before the insured’s death or that he or she supports joint children.
If you take up self-employment in Switzerland as your principal occupation and are no longer subject to the mandatory employee benefits insurance, you can request the cash payment of your vested benefits. The same applies if your vested benefits amount to less than one annual employee contribution.
Under certain circumstances you can also request the cash payment of your vested benefits if you leave Switzerland permanently to relocate to an EU/EFTA country or if you are a cross-border commuter domiciled in an EU/EFTA country and you stop working in Switzerland permanently.
Whether it is better to draw the vested benefits as a pension or a lump sum depends on various factors and differs from individual to individual. Apart from personal circumstances, individual needs and future expectations, the insured’s asset, family and tax situation also plays a role. At Tellco Pensinvest you can also withdraw just part of your capital in the form of a lump sum and receive the remainder as regular pension payments.
Lump-sum payments from a Swiss pension fund must always be taxed in Switzerland. The payment is always taxed at the recipient’s place of residence, but if he or she lives in a foreign country when the payment is made, the tax is levied at the pension fund’s registered office. This is a big advantage for Tellco Pensinvest, as the Canton of Schwyz has the lowest withholding tax rate by far in Switzerland.
The Tellco Vested Benefits Foundation provides services to employees who change employers before a claim to pension benefits arises but have not yet joined a new pension fund as well as individuals who have excess vested benefits when they join a new pension fund and would like to actively invest these funds in securities. If an account solution is selected, the account earns interest at a market rate that is higher than the interest earned with a savings account. Insured can also choose their own investment strategy, including a choice of mixed funds, single funds and ETFs.
Are you interested? You can find out more about the Tellco Vested Benefits Foundation and open an account here.