Can I divide my retirement savings between a lump sum and a monthly pension?
Yes, you can decide how you want to receive your pension up to the day before you retire.
Who will receive my retirement savings if I don’t have any heirs?
The beneficiaries of your lump-sum death benefit are listed in Article 33 of AVENA’s occupational pension fund regulations. If you don’t have any legal heirs, your retirement savings will remain with the Fund.
How can I get a new code for AVENA’s online cockpit?
Contact your AVENA relationship manager or fill out the contact form on our website (lpp-avena.ch/en).
I pledged my retirement savings to purchase a home. Can I still make voluntary contributions?
Even if you have pledged your retirement savings to purchase a home, you can still make voluntary contributions to your occupational pension.
Can I transfer money from my private pension to my occupational pension?
You can. It will be transferred as vested termination benefits but won’t be tax deductible.
As a cross-border worker, I am subject to a withholding tax. If I make voluntary contributions to my pension, how can I declare these contributions and have them deducted from my income?
You must submit a certificate of contributions paid (form 21 EDP) prepared by AVENA to the cantonal tax administration.
I only work part-time. What should I do to make sure that I’ve saved enough for my retirement?
You should make voluntary contributions within the limits of your budget and applicable regulations or set up a private pension (Pillar 3).
How soon is my employer obliged to start contributing to my pension after I start working for them?
If you are a member of an occupational pension fund, both you and your employer must make contributions to your pension in accordance with the agreement you have signed.
I make voluntary contributions each year. What happens to my monthly pension when I retire or die?
Once you reach retirement age, the voluntary contributions you have made will increase the monthly pensions paid out to you or, if you die, your surviving spouse. If you die before retirement, your voluntary contributions will be returned in the form of a lump-sum death benefit, minus any early withdrawals to purchase a home or carry out renovations to maintain or increase the value of your home.
I want to become self-employed. Can I withdraw my LPP pension? How will it affect my taxes?
A cash withdrawal is only possible if you are primarily self-employed and no longer subject to compulsory occupational pension insurance. You will be subject to a one-off tax at a reduced rate (in Vaud, one-fifth of the usual rate). The federal tax is also set at one-fifth of the usual rate. The pension fund is required to inform the Swiss Federal Tax Administration (FTA) that you have received this lump-sum payment. You must also inform your cantonal tax authority.
