The end of your employment with your current employer also means that you will have to leave the Schindler Pension Fund. Anyone leaving the Fund before benefits are paid out is entitled to take vested benefits with them.
Schindler Pension Fund
If you are leaving the Schindler Pension Fund and moving to a new pension institution, your vested benefits must be transferred to this new institution. The form that you need to complete is available to download from the navigation column to the right.
I Do Not Have A New Employer
If you are leaving the Schindler Pension Fund and not moving to a new pension institution, you must notify us of the form in which you wish to maintain your pension cover.
You have the following options:
Set up a vested benefits account
Vested benefits accounts are used to save for old age. They can be supplemented with separate risk insurance (insurance against the financial consequences of disability and death). The vested benefits are invested with a vested benefits foundation. The rate of interest that this investment earns may vary. A link to the Schweizer Banken Info is given in the navigation column to the right.
Please note that, depending on your chosen vested benefits foundation, you may be charged fees for opening or closing your account, making an advance withdrawal to buy a home, etc. The vested benefits account is a blocked account, with access to it limited by the law and its corresponding implementing ordinance. In principle, the capital may be withdrawn at the earliest five years before the insured person reaches AHV retirement age (currently 64 for women and 65 for men), and at the latest five years thereafter. Contact the vested benefits institution for more details.
The retirement capital in this account may, however, be transferred to another Pillar 2 (occupational) pension institution at any time.
In the event of the insured person's death, their beneficiaries (see Art. 15 of the Federal Act on the Vesting of Occupational Old age, Survivors' and Invalidity Benefits, FZG) are entitled to the savings capital that has been accrued.
If you are leaving the Schindler Pension Fund and wish to set up a vested benefits account, complete the form that is available to download as a pdf in the navigation column to the right, and enclose the payment slip from your new vested benefits foundation. Vested benefits accounts must be opened by insureds themselves.
However, if you wish you can instruct us to open an account for you with the UBS Vested Benefits Foundation. To do this, please complete the UBS form to open a vested benefits account, and then forward it to us.
Set up a vested benefits policy
Vested benefits policies are set up by depositing vested benefits with an insurance company. In doing so, the insured person takes out a hybrid form of life assurance (benefits in old age) and life insurance (for dependants in the event of their death). This entitles the holder to retirement capital or to a retirement pension, although these are generally combined. If you are leaving the Schindler Pension Fund and wish to set up a vested benefits policy, please download the "New Pension Institution" form from the navigation column to the right, complete it, and submit it with a payment slip for the transfer of your vested benefits. Vested benefits policies must be purchased by insureds themselves.
Recipients of daily benefits under unemployment insurance benefit from mandatory insurance for the risks of death and disability with the Substitute Occupational Benefit Institution.
Pension provision (saving) may be continued on a voluntary basis. In such cases, vested benefits must be transferred to the Substitute Occupational Benefit Institution.
Insureds may request that benefits be paid out in cash if:
they are leaving Switzerland permanently. Please contact the BVG Guarantee Fund for more information.
if they are becoming self-employed and are no longer subject to mandatory occupational pension provision, or
the vested benefits amount to less than one annual contribution for the insured person concerned.
If you are leaving the Schindler Pension Fund and would like your benefits paid out in cash, please complete the Cash Payment form. It is available to download from the navigation column to the right.
If vested benefits are more than CHF 5,000, then entitled claimants who are married must provide an officially notarised signature from their spouse.
Unmarried insureds must include an official confirmation of their marital status from their local registry office.
Insureds remain covered for the risks of disability and death until they start a new employment relationship, but for no longer than one month after the end of their previous employment relationship.