Your employees can defer retirement for up to five years after reaching ordinary retirement age in the pension fund and can continue to build up additional retirement assets.
However, it is not possible to continue the insurance of risk benefits (death and disability).
There are two options for deferring retirement:
- The time of retirement is deferred.
- Your employee takes partial-retirement; the workload can be reduced in up to three partial steps and each partial step must account for at least 20 %. Since cantonal tax authorities impose higher minimum stages in specific cases (e.g. the Canton of Zurich imposes a minimum stage of 30%), we recommend that you consult your tax authority.
Deferred retirement can be either with or without the continuing payment of savings contributions. However, deferred retirement where the employee remains liable for contributions may require an adjustment to the pension plan. The following procedure applies in both cases:
- Please report your employee's early retirement with the form Notification of retirement or semi-retirement.
Notification of deferred retirement Vita Classic, Vita Relax & Vita Plus
- Please complete the form entirely and send it to:
Vita Classic, Vita Relax & Vita Plus:
Zurich Switzerland
Scanning BVG
P.O. Box
8085 Zurich
bvg@zurich.ch
Vita Invest:
Vita Invest Collective Foundation of Zurich Life Insurance Company Ltd
P. O. Box
8085 Zurich
vitainvest@pfs.ch
Vita Select:
Vita Select Collective Foundation of Zurich Life Insurance Company Ltd
P. O. Box
8085 Zurich
vitaselect@pfs.ch