What is a vested benefits account?
It is an account or policy that holds your 2nd pillar savings while you are not a member of a pension fund: after a job ends, during a career break, when you become self-employed or after you leave Switzerland. The money stays tied to retirement: it can only be withdrawn in the cases set out by law.
When do you need one?
- You leave a job without a new employer in Switzerland.
- You take a break: training, leave, unemployment.
- You leave Switzerland.
- You have several vested benefits accounts and want a clearer picture.
Without instructions from you, your assets are eventually transferred to the Substitute Occupational Benefit Institution. It is better to choose yourself where they are held.
How does opening an account work?
- You tell us about your situation and, if you have it, send us the leaving statement from your pension fund.
- An adviser explains your options, including an account with Liberty Vested Benefits Foundation, with its fees and investment strategies.
- You decide freely. If you choose Liberty, we prepare the transfer documents with you.
- The transfer is made by your former pension fund or foundation. We keep you informed of progress.
Account or securities?
A standard vested benefits account pays interest, with no risk of loss. A securities solution invests all or part of the balance in funds: potential returns are higher over the long term, but the value can fall. The right choice depends on your time horizon and your appetite for risk.
How much does it cost?
Advice on choosing your solution comes with no obligation. Account and investment fees are set out in the contract, before you sign anything.
How we are paid. Prévancia is a business partner of Liberty Vested Benefits Foundation. If you decide to consolidate your assets there, Liberty pays Prévancia a referral fee of around 3% of each amount transferred. Prévancia is therefore not independent of this partner: you remain free to compare other solutions.
When you leave your job in Switzerland, the first step is often a search for your pension assets, to find the 2nd pillar savings built up during your career. Once these funds have been located, it makes sense to open a vested benefits account to keep them safe and continue to grow them.
A vested benefits account is a temporary pension solution, designed to protect your occupational pension rights until you retire or join a new pension fund. Here you will find all the steps and tips for managing this transition well.
What is a vested benefits account?
A vested benefits account is a bank account or insurance policy designed to hold the pension savings of an employee who leaves a job without immediately joining a new pension fund.
It is a temporary but regulated solution, whose purpose is:
- to preserve your pension rights
- to keep the option of withdrawing or transferring your money under certain conditions (retirement, leaving Switzerland for good, buying a home, etc.)
- to keep growing your capital securely
When should you open a vested benefits account?
Several situations call for a vested benefits account:
- Leaving your job in Switzerland without a new employer
- Unemployment or a long break from work
- Becoming self-employed
- Leaving Switzerland
- Divorce involving a division of the 2nd pillar
💡 Good to know: you can open a maximum of two vested benefits accounts, which can help you plan your retirement better.
How to open a vested benefits account
1. Locate your pension assets
When you change jobs, your former pension fund keeps the money for six months before transferring it to the Substitute Occupational Benefit Institution if no vested benefits account has been given.
➡️ If you have lost track of your assets: start a search for your pension assets
2. Choose a provider
You have two options:
- Bank: an interest-bearing account at a fixed rate
- Insurance: a policy with death or disability cover
3. Send the documents
Prévancia does it for you:
- obtaining the certificates from your former pension fund
- sending the forms to the chosen provider
- checking returns and management fees
The benefits of a well-managed vested benefits account
Choosing the right vested benefits account lets you:
- preserve your pension capital in a secure framework
- plan the taxation of an early withdrawal
- plan your retirement more effectively, with personalised analysis tools
- diversify by spreading your assets across two accounts (staggered withdrawals)
Why use Prévancia for your vested benefits account?
With Prévancia you get:
- personal, human support
- a free search for your assets, with no obligation
- fees shown clearly before you sign anything
- secure handling of your file
Prévancia is a business partner of Liberty Vested Benefits Foundation. If you decide to consolidate your assets there, Liberty pays Prévancia a referral fee of around 3% of each amount transferred. Prévancia is therefore not independent of this partner: you remain free to compare other solutions.
Also: our other services
For an overall view of your pension and assets:
In short: secure your future today
Opening a vested benefits account is a key step for your pension when you leave a job in Switzerland. By choosing the right solution and provider, you turn a period of transition into an opportunity for your savings.