Retirement: every step

Send the old-age pension application to your compensation office. It needs time to gather the documents and calculate the pension.

Deadline: About 3 to 4 months before the reference age

An early pension is reduced. It cannot be claimed retroactively.

Deadline: At the latest on the last day of the month in which you reach the chosen age; otherwise it only starts on your next birthday

If you stop working before the reference age, you still pay OASI contributions as a person who is not gainfully employed. Register yourself with your compensation office. Under certain conditions, the contributions of your working spouse are enough.

Deadline: Until the reference age

Ask for a statement of your individual account (IA) to spot any missing contribution years: each missing year reduces the pension by about 2.3%.

Deadline: Before applying for the pension

You can ask for at least a quarter of your assets as a lump sum (art. 37 LPP/BVG, Occupational Pensions Act); your fund may allow more. The deadline to notify it is set by the fund’s regulations.

Deadline: According to your pension fund’s regulations

If you are married or in a registered partnership, a lump-sum payment requires the written consent of your spouse or partner (art. 37a LPP).

Deadline: Before the lump sum is paid

Pillar 3a can be paid out at the earliest 5 years before the reference age. If you keep working, the payment can be postponed by up to 5 years.

Deadline: Due at the reference age (art. 3 OPP 3)

Capital withdrawn from the 2nd or 3rd pillar is taxed separately from your other income, at a reduced rate (art. 38 LIFD/DBG, Federal Direct Tax Act). Ask the tax administration of your canton.

Deadline: The year of the withdrawal

Check in your contract or your collective labour agreement (CLA) whether it ends automatically at retirement. If not, hand in your notice, respecting the notice period.

Deadline: According to the notice period in your contract

Your employer’s accident insurance ends 31 days after your salary stops (art. 3 LAA/UVG, Accident Insurance Act). Ask your health insurer to include accident cover. An extended cover agreement (assurance par convention) extends the LAA cover by up to 6 months.

Deadline: Within 31 days after your salary stops

If your pensions and income do not cover your basic needs, you may be entitled to supplementary benefits (PC/EL). The entitlement starts at the earliest when the application is received.

Deadline: As soon as your income is no longer enough