Jobs are currently being cut across the financial sector and industry in Switzerland. Those affected are often over 50 and have worked for the same employer for decades. Their knowledge of their own pension situation is generally limited – understandably so: as long as the employer took care of occupational pension matters, the topic simply never came up.
Many of those affected are not even aware of the questions involved or the possible answers
Teodora Toma
Head of Vested Benefits Advisory
What happens to my pension fund assets after redundancy?
Your accumulated retirement savings are preserved in any case. If you quickly take up a new position, your capital is transferred – if necessary via a brief detour through a vested benefits account – directly to your new employer's pension fund.
The situation is different if re-entering the workforce takes longer, if you plan to become self-employed, if you are looking for a reduced workload, or if retirement is approaching. Several options then open up, and they should be weighed carefully against each other.
How long am I still insured after leaving the pension fund?
Disability and death risks remain covered for only one month after you leave the pension fund. This short extended-cover period is frequently underestimated.
As a supplement, so-called insurance by special agreement ("Abredeversicherung") can be taken out through the accident insurance scheme. It extends accident cover, but for a maximum of six months. Anyone who remains without a follow-up solution for longer has a gap in their risk cover – a point that should be clarified early on.
Why should I review the order of beneficiaries after losing my job?
Because pension law claims follow different rules than inheritance law. Anyone transferring capital to a vested benefits institution after redundancy should therefore check who would actually benefit in the event of death – and whether that arrangement still matches their current life situation.
Can I remain insured with my previous pension fund?
Yes, under certain conditions. Anyone aged 58 or over whose employment was terminated by the employer can voluntarily continue their occupational pension cover with the existing pension fund. The major advantage: the entitlement to retirement benefits in the form of a pension is preserved.
The price: in addition to their own contribution, the insured person must also finance the former employer's share themselves. For many of those made redundant, this exceeds their financial means. Moreover, by no means all pension funds provide for a later pension payout for members who have left, as they do not want to carry the associated risks. A look at the pension fund regulations is worthwhile in any case.
How can I break the tax progression when withdrawing my capital?
By staggering: if the vested benefits capital is split across two accounts at different institutions, withdrawals can be spread over several tax periods. A vested benefits account can only ever be withdrawn in full.
This planning needs to be well thought through: the tax authorities generally accept a maximum of three payouts. It should also be noted that withdrawals from occupational pension schemes and pillar 3a made in the same year are added together.
What do vested benefits foundations offer?
Vested benefits foundations are more than a parking space for pension capital. Depending on the provider, securities solutions with a broad investment universe are available in addition to accounts. PensExpert runs two vested benefits foundations of its own, which also allow a pension to be drawn from age 60 – the benefit level depends on the capital brought in.
What would the planned AHV 2030 reform change for the second pillar?
The bill sent out for consultation at the end of May 2026 primarily concerns the AHV (state pension), but has direct repercussions for occupational pensions. The Federal Council proposes raising the earliest retirement age in the second pillar from 58 to 63, in line with the AHV. This would also shorten the window for partial retirement steps to three years.
A further point of contention: those who remain in employment beyond 70 would be able to keep paying into the AHV – but not into their occupational pension.
Conclusion: pension planning belongs on the priority list
Anyone who loses their job understandably focuses first on finding a new one. Losing sight of pension matters, however, can prove costly – especially in the years before retirement, when accumulated capital grows the most. Those who know their options make better decisions.
This article is based on an interview with Teodora Toma, Head of Vested Benefits Advisory at PensExpert, published on finews.ch (in German). Read the original article: Viele Kündigungen bei Banken – hoher Beratungsbedarf bei Vorsorgefragen