How to proceed: report an early retirement

Early retirement

Early retirement

From the age of 58, it is possible to enter early retirement in terms of the occupational pension plan. It must be borne in mind that gainful employment cannot be resumed if you have taken early retirement.

This is how you proceed as an employee

Please inform your employer about your early retirement so that they can inform us.

As soon as your employer informs us of your early retirement, we will send you the form to register your retirement.

This is how you proceed as an employer

 If your employee wishes to retire early, there are two options available:

  1. Your employee takes full early retirement
  2. 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 a 20% reduction. Since cantonal tax authorities impose higher minimum stages in specific cases, we recommend that you consult your tax authority.

In both cases, the employee can take a lump-sum payment or decide in favor of a pension payment. The following procedure applies in both cases:

  1. Please report your employee's early retirement with the form Notification of retirement or semi-retirement.
    Notification of retirement or semi-retirement Vita Classic & Vita Plus 
    Notification of retirement or semi-retirement Vita Invest, Autoinvestment
    Notification of retirement or semi-retirement Vita Invest, with own investment strategy
    Notification of retirement or semi-retirement Vita Select
  2. Please complete the form entirely and send it to:

    Vita Classic & Vita Plus:
    Zurich Insurance Company Ltd 
    Benefits Group Life 
    P.O. Box 
    8085 Zurich
    044 629 08 85

    Vita Invest:
    Vita Invest Collective Foundation of Zurich Life Insurance Company Ltd
    P. O. Box
    8085 Zurich  

    Vita Select:
    Vita Select Collective Foundation of Zurich Life Insurance Company Ltd
    P. O. Box
    8085 Zurich

How to plan your early retirement

If you retire early, you're reducing the time in which you can save up pension capital. Your benefits after your retirement will be correspondingly lower. We recommend that you start planning early retirement in good time. 

Vita offers you the possibility of funding your early retirement via the occupational retirement provisions. In order to receive full benefits when you retire, you can voluntarily purchase additional contributions . In other words, you can voluntarily pay the amount you would have contributed until the normal retirement age.

  1. In order for us to be able to calculate the resulting pension shortfall as a result of your early retirement, we need the following information:

    - Your current address
    - The exact date on which you plan to retire

    You can provide us with this information by phone at 0800 80 80 80, or send it to us in writing.
  2. We will send you the calculation of your pension shortfall by regular mail with the Purchase of Pension Fund Contributions form. If you decide to cover your pension shortfall, you can contribute the amount using the payment slip attached to the form. Please mail the form back to us as well at:

    Zurich Insurance Company Ltd
    Help Point BVG
    P.O. Box
    8085 Zurich

You can find detailed information under Purchase in the pension fund. Naturally, our consultants in your area will be happy to answer any questions you may have.

Please bear in mind

If you voluntarily purchase additional contributions for your early retirement, and you change your mind later on about retiring early or retire later than originally planned, your payments to the pension fund are forfeited. In other words, they will not be part of your pension. This is only the case if the regulatory benefits goal for regulatory retirement is exceeded by more than 5%. Moreover, the relevant tax authority may impose extensive restrictions on the voluntary purchase of additional contributions, which will result in tax disadvantages for you. For questions relating to this, and in order to determine the deductibility of voluntary purchases of additional contributions, please contact the relevant tax office.