Repatriation of second and third savings pillars
Repatriate savings from outside Switzerland
Cross border employees in Switzerland may repatriate part of their 2nd or 3rd pillar of their pensions or savings. The second pillar, also called an occupational pension, has the potential to represent a significant sum in Swiss francs (perhaps, tens to hundreds of thousands of Swiss francs or even more). The third pillar, which is the so-called voluntary insurance (the cross border employee has the option of whether or not to purchase this product) may also be a significant amount in Swiss francs.
In both cases, any cross border worker who wishes to use the Swiss francs that make up his fund, to make a purchase in euros (perhaps, for example, to purchase a house) given the amounts involved, will find it advantageous, to reduce his costs to the maximum and find the best exchange rate of a currency: this is precisely what b-Sharpe offers, with its competitive foreign exchange rates.
On reaching retirement age and wishing to purchase his principal residence or to start a small business, a cross border employee may decide to withdraw his 2nd pillar of capital. This capital withdrawal generally involves significant amounts, sometimes up to several hundred thousand Swiss francs, according to the nature cross border employee’s pension fund. In rare cases, for those commuters who have had the highest wages and the best pension funds, the amount can even exceed one million Swiss francs.
When withdrawing the 2nd pillar capital, a commuter will benefit from using a service like b-Sharpe, which will allow him to reduce to a minimumthe exchange fees, and benefit from an exchange rate that is much more competitive than that offered by a traditional bank in Switzerland or in France.
There are many forms of third pillar funds: the 3rd pillar A and 3rd pillar B. A third pillar is a supplement to the pension, the amount is expressed in Swiss francs, which can be withdrawn as capital under the same conditions as the 2nd pillar.
A third pillar B works more as a life insurance contract, and depending on the type of contract selected, allows the insured to receive income (in case of death, for example), but also an amount in capital.
Whatever type of third pillar fund that a cross border employee has, he may decide to benefit from the minimum exchange costs and best exchange rates when he wishes to convert it into euros.
Use the simulator to calculate what you can save on the repatriation of your pension