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Everything about vested benefits Everything about vested benefits
Tips & tricks regarding vested benefits How to get more out of your 2nd pillar.
Tips & tricks regarding vested benefits
What are vested benefits?
Vested benefits mean that you park your pension assets from your pension fund – the so-called vested benefits. This is done temporarily or until the account holder reaches the reference age* (64 for women (soon to be 65) / 65 for men).
If you leave your job, for example, you also have to take your pension fund assets with you. If you start a new job, you will be asked to transfer your vested benefits to the pension fund of your new employer.
Life often gets in the way of the best-made plans. There are a lot of reasons why you might leave your job and not take up a new one straight away. In this case, as well as other situations, you need to park your pension fund assets in a vested benefits account.
Here are some of the reasons why you might leave your job and might need to open a vested benefits account:
- Long-term travelling
- Bringing up a child
- Career break or unemployment
- Early termination of employment
- Persons who become self-employed and do not use their vested benefits
* The assets can be withdrawn under certain conditions or on reaching the statutory reference age. You can apply to make a lump-sum withdrawal up to five years before reaching the statutory reference age.
A vested benefits account is not always necessary
A vested benefits account is not always necessary
You can also leave your money in your previous employer’s pension fund for up to half a year. You only have to inform your previous fund of your new pension fund or vested benefits account after six months. So if you take a short break when changing jobs and go travelling for a few months, you don’t necessarily need a vested benefits account.
If you don’t register for a new account, your previous pension fund will deposit your pension assets in the national pension fund “Stiftung Auffangeinrichtung” after no less than six months but no more than 24 months.
If you are aged 58 or older, you don’t necessarily have to open a vested benefits account. If your employer has terminated your employment relationship, you can remain with your employer’s pension fund.
Why frankly?
Easy
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Open an account in just a few minutes
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Secure
Developed by Zürcher Kantonalbank, one of the safest universal banks in the world.
How do I open a vested benefits account?
You are responsible for opening a vested benefits account. You can usually park or invest your vested benefits with a number of banks and insurance companies.
You can now also open a vested benefits account for your vested benefits with frankly. frankly is suitable for pension fund members who do not intend to take up employment. With frankly, you can either keep your vested benefits in an account or invest them in Swisscanto’s multi-award winning investment products. It is also possible to invest only part of your vested benefits.
