Repatriate your 2nd and 3rd pillar pension plans
- The 2nd pillar pension plan, also known as the occupational pension provision, represents a potentially significant amount in Swiss francs (from several tens of thousands to several hundreds of thousands, and even more on the uppermost end).
- The 3rd pillar pension plan, which is a form of the so-called optional pension provision (in which the cross-border worker can choose whether or not to contribute) can also represent a significant amount of Swiss francs.
In both cases, any cross-border worker wanting to withdraw Swiss francs from his or her pension for a purchase in euros (such as for retirement, the purchase of a primary residence or for starting a business) will have an interest, given the amounts involved, in minimising exchange costs and obtaining the best exchange rate. This is precisely what b-sharpe can offer you with its competitive currency exchange service.
How to repatriate your 2nd pillar pension plan as a cross-border worker
A cross-border worker can decide to withdraw funds from his or her 2nd pillar pension plan in a number of situations:
- if they are of legal retirement age in Switzerland (65 years for men; 64 years for women),
- if they wish to take early retirement and if the pension fund regulations allow it (at age 58),
- for the purchase of a primary residence,
- for starting a business.
The withdrawal of funds generally involves large to very large amounts, depending on the cross-border worker's income and pension fund. In a few rare instances, for cross-border workers with high incomes and large pension funds, this amount may even exceed one million Swiss francs.
In the case of a withdrawal of funds from the 2nd pillar, a cross-border worker will have an interest in using a service such as b-sharp which enables him or her to reduce exchange fees to a minimum and receive a much more competitive exchange rate than what's offered by a traditional bank, whether in Switzerland, France or another country in the European Union.
Reducing exchange fees for the repatriation of a 3rd pillar pension plan
- Pillar 3b is a retirement supplement whose value is expressed in Swiss francs. Funds can be withdrawn under conditions similar to those of the 2nd pillar plan.
- Pillar 3b works more like a life insurance contract and, depending on the type of contract chosen, it allows the insured person to receive pension benefits (in the event of death, for example) in addition to a lump sum.
Whatever the type of 3rd pillar pension plan, a cross-border worker who decides to cash it out and transfer it out of Switzerland will also enjoy minimal exchange fees and a very attractive exchange rate when converting Swiss francs into euros.
Examples of exchange fees for 2nd or 3rd pillar pension plans
- Exchanging 50,000 CHF for euros: you'll receive an average of 382 more euros than with a traditional service (bank or exchange office)
- Exchanging 300,000 CHF for euros: you'll receive an average of 1,000 more euros than with a traditional service (bank or exchange office)
How to benefit from b-sharpe's great terms
- Sign up! Registering with b-sharpe is free and with no obligation
- After your account is approved, you'll receive an IBAN, which you can send to your insurance company or pension fund as well as a document certifying that we will transfer the full amount received to the recipient's account.
- The funds in Swiss francs will then be transferred to b-sharpe, who will then exchange them for euros.
- b-sharpe will then transfer the funds to the bank account of your choice