Repatriate your 2nd and 3rd pillar pension plans

People sightseeing outdoors-bro
Cross-border workers in Switzerland who wish to (and have the ability to do so) can repatriate a portion of their 2nd or 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

The 3rd pillar pension plan is a retirement program that can take several forms:
  • 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 Funds can be withdrawn under conditions similar to those of the 2nd pillar plan.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

  1. Sign up! Registering with b-sharpe is free and with no obligation
  2. 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.
  3. The funds in Swiss francs will then be transferred to b-sharpe, who will then exchange them for euros.
  4. b-sharpe will then transfer the funds to the bank account of your choice