Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Moving pensions to Switzerland

  • 02-11-2020 1:32pm
    #1
    boredadultlife
    Registered Users Posts: 12 ✭


    Hi just wondering if anyone has any advise or links they could point me towards?

    Basically I've been working professionally in Ireland for a number of years over 2 companies so have 2 pensions.....I have now relocated to Switzerland and was looking to consolidate the pensions into one shape.

    Anyone had any such experience?

    Thank you!


Comments

  • #2
    The Mighty Quinn
    Registered Users, Registered Users 2 Posts: 1,228 ✭✭✭The Mighty Quinn


    There's a moderator on here, pretty sure he's based in Switzerland, who mods this forum actually.

    https://www.boards.ie/vbulletin/member.php?u=341411

    Jim2007. If you message him he might be able to help.


  • #3
    boredadultlife
    Registered Users Posts: 12 ✭boredadultlife


    The Mighty Quinn wrote: »
    There's a moderator on here, pretty sure he's based in Switzerland, who mods this forum actually.



    Jim2007. If you message him he might be able to help.


    Thank you for that reference, appreciated. Will give Jim a go! :)


  • #4
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,360 Mod ✭✭✭✭Jim2007


    boredadultlife wrote: »
    Hi just wondering if anyone has any advise or links they could point me towards?

    Basically I've been working professionally in Ireland for a number of years over 2 companies so have 2 pensions.....I have now relocated to Switzerland and was looking to consolidate the pensions into one shape.

    Anyone had any such experience?

    Thank you!


    Hi There,


    I'm based in Switzerland, have been for over thirty years and as result I never had an Irish pension to transfer.


    Under EU/CH agreements, it is possible to transfer a 2nd pillar pension from an EU state to Switzerland and vice versa, however as far as I am aware neither Irish nor UK private pensions qualify as 2nd pillar pensions as they are not obligatory in Ireland.


    What is the motivation to move them to Switzerland, have you moved there permanent? Moving it back later is not easy, that part I can say.

    The Mighty Quinn wrote: »
    There's a moderator on here, pretty sure he's based in Switzerland, who mods this forum actually.

    https://www.boards.ie/vbulletin/member.php?u=341411

    Jim2007. If you message him he might be able to help.


    Unfortunately Jim2007 has no experience of moving an Irish pension to Switzerland. I went to Switzerland when I was 25 to spend a summer climbing on the Alps and forgot to return. So I had no pension contributions in Ireland.


  • #5
    boredadultlife
    Registered Users Posts: 12 ✭boredadultlife


    Jim2007 wrote: »
    Hi There,


    I'm based in Switzerland, have been for over thirty years and as result I never had an Irish pension to transfer.


    Under EU/CH agreements, it is possible to transfer a 2nd pillar pension from an EU state to Switzerland and vice versa, however as far as I am aware neither Irish nor UK private pensions qualify as 2nd pillar pensions as they are not obligatory in Ireland.


    What is the motivation to move them to Switzerland, have you moved there permanent? Moving it back later is not easy, that part I can say.





    Unfortunately Jim2007 has no experience of moving an Irish pension to Switzerland. I went to Switzerland when I was 25 to spend a summer climbing on the Alps and forgot to return. So I had no pension contributions in Ireland.

    Thank you very much for taking the time to reply to me. Yes i have moved out there and don't really plan on coming back. The tax rate is too nice to say no to.....as is the raclette.

    I don't see the point in having pensions over here. Obviously not going to pay a fortune to transfer them for the sake of being neat, but would rather consolidate if easy to do so.


  • #6
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,360 Mod ✭✭✭✭Jim2007


    boredadultlife wrote: »
    I don't see the point in having pensions over here. Obviously not going to pay a fortune to transfer them for the sake of being neat, but would rather consolidate if easy to do so.

    Well I suggest you start by contacting the pension funds and find out if they qualify to be transferred under the EU/EEA/CH rules and if so, the costs and tax implications.

    On the Swiss side you will get a statement early next year showing the buy in amount in your current pension, if this is greater than the amount you are transferring it might be worth considering. I say might because you will eat away future Swiss tax allowances that might be better used in the future.


  • Advertisement
Advertisement