Pension ABC

VSAO is the occupational pension scheme for

• assistant doctors, senior physicians and other employed doctors,
• academics in professional training and
• employees of the VSAO, its departments and organisations.

Under special circumstances also non-academic staff can be insured if their work is in close connection to the above mentioned doctors or academics.

The above mentioned employees are legally obliged to join the Swiss occupational pension fund insurance from the age of 18 up if they

• are employed in a company registered and operated in Switzerland and
• are resident in Switzerland with an annual income of at least CHF 21’150 (year 2019) and
• are subject to the Swiss social security system.

The employment contract has to be issued for at least 1 month.

There is no choice. The employee has to join the pension fund which has been chosen by the employer, if the criteria in point A1 are met.

This is regulated by law. That means the employers contribution has to be at least 50% of the premium. It is the employer’s choice to pay more than 50% of the premium. The employee pays the rest.

The contribution amount to be paid by the employees depends on the individual age and the level of employment, respectively the insured salary.

Your options depend on your coming employment status:

1) If you change employers in Switzerland,
you will change to the new employer’s occupational pension fund in Switzerland. In this case, the total amount of your accumulated capital, the so called

“Freizügigkeitsleistung” / “Austrittsleistung” = termination benefit

is transferred from your previous occupational retirement fund to the new one. The capital must always remain in the retirement fund of your current employer. In general, it is not possible to dispose of the money freely, it may be withdrawn under certain conditions only.

When changing jobs make sure that all your termination benefits have been sent to your new employer’s retirement fund correctly.


2) If you continue to reside in Switzerland, but are no longer employed and not yet retired,
you have the following options:
The termination benefit can be transferred into

• a special blocked bank account (so called Freizügigkeitskonto =vested benefits account)
• or a blocked insurance policy (so called Freizügigkeitspolice = vested benefits policy)
• or the so called auxiliary fund (Auffangeinrichtung- Fondation Institution supplétive)*

However, you have to inform your employer about your decision. Should you not make a decision the VSAO will transfer the cash termination benefit to the auxiliary fund (BVG) 2 years after the termination at the latest. More information about the auxiliary fund (www.chaeis.net – Phone: 0041 41 799 75 75).

*The auxiliary fund is a special retirement fund. If you leave your job without instructing your employer´s retirement fund what to do with the accumulated capital, the fund will transfer the termination benefit to an auxiliary fund. This happens no later than 2 years after the termination of employment. Your insurance cover is maintained..

In Switzerland you will receive the whole pension capital accrued and possibly paid in as the so called termination benefit and not only the pure refund of your personal contributions. To learn more about when this is possible, please refer to A4 and A6.

Should you leave Switzerland permanently, your options depend on

1) if you have emigrated to a non-EU/non-EFTA state you can choose whether you
 

• apply for payment (Barauszahlung) of your accumulated capital (termination benefit); please note: after having received the termination benefit, any payment of retirement- or other benefits is impossible. The cash payment will be after deduction of the source tax or
• maintain the retirement fund cover (options in this case see below, 3)
  If you apply for payment within 6 months after your contract has ended, an application must be submitted to your last employer’s retirement fund (e.g. the VSAO). You can do this before leaving Switzerland. Your employer will provide you with the necessary forms when you leave the occupational fund.
  If you apply for the payment after 2 years, the application should be submitted to the auxiliary fund, (Auffangeinrichtung- Fondation Institution supplétive) directly, please refer to point 3), below.

2) if you have emigrated to an EU/EFTA state and are not subject to any social insurance, see 1)

3) if you have emigrated to an EU/EFTA state and are subject to any social insurance in that country, you can withdraw just part (the non-compulsory portion) of the accrued capital. The obligatory part has to stay in Switzerland until you will retire. In this case, the termination benefit can be transferred into
 

• a special blocked bank account (so called Freizügigkeitskonto =vested benefits account)
• or a blocked insurance policy (so called Freizügigkeitspolice = vested benefits policy)
• or the so called auxiliary fund

However, you have to inform your last pension scheme about your decision. Should you not make a decision the VSAO will transfer the cash termination benefit to the auxiliary fund (BVG) not earlier than 2 years after the termination. More information about the auxiliary fund (www.chaeis.net – Phone: 0042 41 799 75 75)

4) Shouldn’t you have applied for cash payment of the termination benefit, the retirement fund cover remains in the 2nd pillar-account. In general, the occupational retirement fund of your last employer will transfer your termination benefit to the auxiliary fund no sooner than six months and no later than two years after you leave your job. In this case an application for payment must be addressed to the auxiliary fund.

Address:

Stiftung Auffangeinrichtung BVG
Administration Freizügigkeitskonten

Postfach
8036 Zürich

Email: fzk@chaeis.ch
Internet: http://www.chaeis.net/

The occupational pension provision with VSAO contains:

• retirement pensions
• disability pensions
• survivors’ pensions

VSAO also offers a contractual pension under certain conditions, if you wish to gradually reduce or end working life before retirement age.

There is no minimum period of eligibility.

The pension amount depends on the earned salaries, the period of insurance and the amount paid into the pension fund insurance plan or scheme. Every insured employee gets a 2nd pillar benefit certificate (Versicherungsausweis) once a year. On this statement you will find your pension capital accrued and other necessary information.

Yes, it is possible to increase the future pension by paying an additional contribution into the pension fund insurance. This amount depends on the amount of the earnings and the amount, which has been paid into the insurance already.

In case you wish to get information on a possible buy-in (reglementarischer Einkauf) please refer to the VSAO website.
Link: http://www.vorsorgestiftung-vsao.ch/page/site/primary/arbeitnehmende/einkauf.php

The normal / regular retirement pension will be paid as of the following month after you have your 65th birthday. Nevertheless you may declare or state your desire to go on pension earlier, as of your 58th birthday, but this would result in a pension reduction.

You may have the option/ possibility to postpone your retirement to a further maximum of five years, provided you and your employer have agreed on your further employment and contributions will be paid.

You have to be aware that in Switzerland the pension is paid by the pension fund where you are insured when retiring. In case you change your employer before you are entitled to claim benefits, please refer to question A5.

If you think about retiring in the near future please contact the customer service of the Vorsorgestiftung VSAO.

Link: http://www.vorsorgestiftung-vsao.ch/page/pdf/formulare/pensionierung.pdf

The pension amount depends on the earned salaries, the period of insurance and the amount paid into the pension fund insurance plan or scheme. Every insured employee gets a 2nd pillar benefit certificate (Versicherungsausweis) once a year. On this statement you will find your pension capital accrued and other necessary information.

You can address to the Central Office of the 2nd pillar. They can find out if there is still have any money in the auxiliary fund or in a retirement fund.

Address:
Central Office of the 2nd pillar:
Postfach 1023, 3000 Bern 14
Tel. 031 380 79 75
Fax 031 380 7976
E-Mail: info@zentralstelle.ch
Internet: http://www.zentralstelle.ch/xml_2/internet/de/intro.cfm