Employees are admitted to the Pension Fund when they start work with an affiliated company, but at the earliest:
on January 1 of the year following the insured's 17th birthday for the risks of disability and death, and
on January 1 of the year following the insured's 24th birthday for retirement benefits
If an insured’s annual salary falls below the entry threshold as defined in Art. 2.2 of the Pension Fund Rules, or should the employment relationship with the company end for a reason other than retirement on age grounds, disability or death, the insured must withdraw from the Pension Fund. The withdrawing insured is entitled to vested benefits as defined in Art. 14 of the Rules.
Transfer of Vested Benefits
When you start a new job, you will be accepted into your new employer's occupational pension scheme. If you were insured under an occupational pension scheme with your previous employer, you will generally be entitled to withdraw your vested benefits, i.e. the pension capital that you have saved with that scheme.
When you start work with a Schindler Group company, your old pension institution must transfer the vested benefits to which you are entitled to the Schindler Pension Fund.
If you hold further pension capital with other vested benefits institutions (including the Substitute Occupational Benefit Institution), this capital must also be transferred to the Schindler Pension Fund in accordance with Art. 4 para. 2a of the Federal Act on the Vesting of Occupational Old Age, Survivors' and Invalidity Benefits (FZG).
The payment slip must bear your name and Swiss social security (AHV) number, as well as the name of your new employer. The form, stating the bank account details, must then be forwarded to your previous employer or to the vested benefits institution. You can download the relevant form from the navigation column to the right.
When the vested benefits are received by the Schindler Pension Fund, they will be credited to your retirement capital and you will also be sent an updated benefits statement.