What happens to my pension savings when I leave my job?

Your saved capital is secure

A change of job, the step into self-employment or a professional break – we understand that such changes raise questions about your pension provision. Rest assured: your accumulated savings from your occupational pension (OPA), also known as a pension fund or pillar 2, will not be lost when you leave. These assets are officially called vested benefits. The law clearly regulates how your capital is protected and secured for your future.

Your next steps: A brief overview

1. When changing jobs: Initiate the transfer of your assets to the new pension fund.
2. Without a new job: Open a vested benefits account or a vested benefits policy to park your assets safely.
3. In special cases: Check whether a lump-sum payment is an option for you (e.g. if you are leaving Switzerland permanently or becoming self-employed).

The standard procedure: Transfer to the new pension fund

If you start a new job, the usual procedure is to transfer your vested benefits to your new employer’s pension institution. This allows you to continue your retirement savings seamlessly.

For a smooth transfer, we need the payment details of your new pension fund. The easiest way to provide us with this information is by using one of the following forms:
Transfer of vested benefits when changing jobs PRO (PDF)
Transfer of vested benefits when changing jobs PULSE (PDF)

What happens if you do not have a new job?

If you do not join a new pension fund immediately – whether due to unemployment, further training, a baby break or starting your own business – your assets will be “parked” with a special institution. There are two options for this:

• Vested benefits account: A banking solution where your capital is securely invested and earns interest.
• Vested benefits policy: An insurance solution that often includes additional insurance benefits such as death or disability cover.

Special cases: When is a lump-sum payment possible?

A direct payout of the entire balance in cash is only possible in a few exceptional cases that are clearly defined by law:

• You are leaving Switzerland for good: If you move to a country outside the EU/EFTA, you can withdraw all your assets. If you move to an EU/EFTA country, you can usually only withdraw the non-mandatory portion, as you will be compulsorily insured against the risks of old age, death and disability in your new country.
• You are taking up self-employment: If you become self-employed and are no longer subject to the mandatory occupational pension scheme, you can apply for a payout.
• The termination benefit is very small: If your assets are less than one of your annual contributions, a payout is also possible.

How to proceed

To apply for a payout, please complete the form “Application for cash payment / transfer" and send it to us by post.

Do you have any questions about your specific situation? We are here for you and will be happy to assist you.
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