The various retirement options that are open to you are listed below.
Entitlement to retirement benefits begins when the employment relationship ends owing to retirement, and ends at the end of the month in which the insured dies.
The amount of the retirement pension is based on the accrued retirement assets at retirement age, less any lump-sum withdrawals, and is calculated using the conversion rate
Voluntary early retirement is possible from the age of 60 and presupposes the end of the employment relationship. The Pension Fund must be informed in writing of the intention to retire in accordance with the notice period under the employment contract, but at least three months before the intended retirement date.
Insureds may take regular or early retirement only with effect from the end of a month.
Insureds whose applicable salary is cut by no more than half after the age of 58 owing to a reduction in working hours by no more than half may maintain their previous insured salary, up to the final age at the latest. The employer and employee contributions on the proportion of salary lost owing to the reduction in working hours will be assumed by the employer.
However, if you continue to be insured at the level of the previous insured salary, you are not permitted to take partial retirement, as this would involved drawing a pension.
It is also possible to reduce working hours in a second tranche, but to no less than half of your original working hours at age 58.
If you want to make use of this option, please discuss it with your line manager and contact us so that we can take care of the administrative side.
If the insured remains employed by the company even after they have reached the final age, they remain insured up to the end of their employment relationship, but no longer than their 70th birthday. At this age, you can take partial retirement if you decide to reduce your working hours.
Partial retirement is possible from the age of 60 and presupposes a reduction in the contractual hours worked by the insured, in agreement with the company.
Partial retirement may also be taken in several steps. If you take partial retirement in a maximum of two stages, you have the option of drawing some or all of the corresponding retirement assets as a lump sum.
If you reduce your working hours and are not dependant on benefits from the Pension Fund, you might be eligible to remain insured up to the level of your current insured salary. For more information, please refer to the section on reducing working hours from age 58.
If an insured terminates their employment relationship after the age of 60, they may withdraw some or all of their accrued retirement assets as a lump sum. If this is what you wish to do, you must inform the Pension Fund in writing at least three months before the date of retirement. If you are married, you may only withdraw a lump sum if your spouse has given their written consent, and their signature has been officially notarised.
If they are not yet eligible to draw an AHV retirement pension, and providing the accrued retirement assets are sufficient, recipients of a retirement pension may apply to receive an AHV bridging pension amounting to no more than the AHV retirement pension.
If you claim an AHV bridging pension, the retirement assets that you have available at regular retirement age will be reduced, which will also lower your retirement pension and the other benefits that are insured with it.
Recipients of retirement pensions are entitled to a child's pension for each child who would be entitled to an orphan's pension in the event of the insured's death. Children who are still in education can continue to claim a pension up to their 25th birthday. The term "children" refers to both biological and adopted children, as well as foster children who are entitled to receive pension benefits under AHV/IV regulations.
For further provisions governing the retirement options described above, please refer to Article 11 of the Pension Fund Rules – "Retirement Benefits"