Calculation
The transfer value is based on your final reference salary and is calculated as follows:
- 14.7% for each of the first 10 years of pensionable service
- 22% for each further year of pensionable service
A reduction factor is applied to this calculation in the event of partial contributions.
Any purchase with own funds will be included in the above calculation.
Payment
You can request the payment of the transfer value (paid during the month following the end of your contract):
- into your personal Swiss bank account (if you have less than 10 years of service)
- into another private pension scheme
If you request a transfer into another pension scheme, the payment can be made in any country.
A transfer value is a one-time payment that extinguishes any right to a pension, except in the case of a partial disability pension that is already being paid.
Taxation
Pensions and other benefits are taxable under the conditions defined in the national fiscal legislation that is applicable to the person concerned.