Insured person:
Retirement
With TRANSPARENTA, you can arrange your retirement transition individually and flexibly — in coordination with your employer, of course. For example, partial retirement is possible in up to three steps between 58th and 70th birthday.
At every stage of retirement, you are free to choose how you want to receive your retirement benefits:
- Lifetime pension with the option that the pension is distributed in an amount of up to three pension levels with partial repayment (gradual old-age pension).
- One-time lump sum payment
- Any mix of pension and capital
Here you can find all important information about retirement benefits.
You must register a lump sum payment with us at least 1 month in advance. If you do not submit a so-called capital option, we will convert your retirement capital into a life-long pension as standard.
You retire properly at 65
If you are planning to retire properly at the AHV reference age 65, you do not need to actively contact you. This is because we will send you an information letter including a form and leaflet approximately 6 months before reaching the reference age. You can use the form to tell us how you would like to receive your retirement benefit.
Early retirement — what you need to know
Early retirement is possible from the age of 58 at the earliest. When withdrawing a pension, the conversion rate is actuarially reduced due to the longer period of receipt.
You can voluntarily compensate for this reduction in benefits and the loss of savings contributions and interest on retirement assets up to the reference age of 65 by making purchases for early retirement. Find out more about purchasing here.
Deferred retirement — what you need to know
If you remain employed by your previous employer beyond the reference age, you can postpone receiving retirement benefits until the end of this employment. By law, this is only possible up to your 70th birthday.
These are the effects of a delay:
- When you receive a pension, your conversion rate increases accordingly.
- Savings contributions continue as standard. Without any deviating provision in the pension plan, the savings contribution rate applicable at the reference age is applied.
- During a deferred retirement, risk contributions are no longer paid.
- The right to all benefits expires, with the exception of, of course, the old-age pension with the spouse/partner pension and child pensions dependent on it and the death benefit in the amount of the existing retirement assets after deducting the present value of the survivor benefits actually triggered.
- If you die during deferral, the hypothetical old-age pension at the time of death, which is calculated from the existing retirement savings and the conversion rate applicable for this age, will be determined for the calculation of the spouse/partner pension and the orphan's pension.
Partial retirement — what you need to know
- Partial retirement is possible in up to three steps.
- A single step is possible for every wage reduction after the 58th birthday.
- At every step, the proportion of retirement benefits received must not exceed the share of the wage reduction; however, a fall below is permitted.
- When taking the first step of partial retirement, you must receive at least 10% of your retirement benefit. This means that your insurable AHV annual salary must be reduced by at least 10%.
- If, following a wage reduction, the remaining AHV annual salary falls below the entry threshold set in the pension plan, the entire retirement benefit must be received during this step.
- There must be a period of at least one month between each step.
- Two steps with full or partial capital withdrawals within a calendar year are considered a single step.
- If it is already foreseeable that your salary will rise again in the event of a wage reduction, this temporary wage reduction cannot be regarded as a possible partial retirement step. Subsequent wage increases make no claim to repayment of partial retirement.
Practical example of partial retirement in three steps:
A person works with an employment rate of 80% and receives an AHV annual salary of CHF 80,000. At a certain point in time (between the ages of 58 and 70), they reduce their workload to 60% and at the same time their AHV annual salary to CHF 60,000. They can use this process as a partial retirement step and receive a share of up to 25% (60,000:80,000 — 100%) of the retirement benefit.
One year later, the person reduces their workload by another half from 60% to 30% employment rate. However, her AHV annual salary is not reduced in the same proportion to CHF 30,000, but only to CHF 40,000 because she takes on new specialist work. With this step, retirement benefits of up to 33.3% (40,000:60,000 — 100%) are therefore permitted.
When giving up employment (or if the remaining earned income falls below the planned entry threshold), the person receives the remaining retirement benefit in full as a third and final step.
Would you like early or gradual retirement or do you want to postpone this beyond the reference age with your current employer? Then please contact us proactively. In this way, we can provide you with the best possible support in your pension planning and ensure that all legal and regulatory requirements and deadlines are met.