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 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 (e.g. Zurich imposes a minimum stage of 30%), 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. In the case of partial-retirement, however, only two partial-retirement steps are possible with withdrawals in the form of a lump sum. The following procedure applies in both cases:

  1. Please report your employee's early retirement with the form Notification of retirement or semi-retirement.
  2. Please complete the form entirely and send it to:

    Zurich Insurance Company Ltd
    Benefits Group Life
    P.O. Box
    8085 Zurich
    claimslife.slka@zurich.ch
    044 629 08 85

This is how you proceed as an employee

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

We will receive a corresponding form from your employer. As soon as we have it, we will send you all further information directly by mail.

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
    bvg@zurich.ch

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.

Purchase in the pension fund

You can make up missing BVG contribution years through the voluntary purchase of pension fund benefits. This way, you can improve your retirement pension and reduce your tax burden at the same time.

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