I am (soon to be) retired

Are you retiring soon or are already retired? Ask yourself the right questions without delay, take the necessary measures and review your insurance.

Old Age and Survivors’ Insurance – AVS/AHV (1st pillar)

Pensions are not automatically paid out by AVS/AHV when you retire. You have to notify your current compensation fund in writing that you have retired from professional life.

Time limit: at the latest three months prior to attaining the ordinary retirement age.

Occupational pension fund (2nd pillar): repurchase and lump-sum capital amount (LPP/BVG)

You can repurchase contributions in your pension fund so as to improve your LPP/BVG benefits when you retire. Verify with your institution if you are still able to repurchase contributions and if you still have sufficient time to do so.

Pension funds generally pay out LPP/BVG benefits in the form of lifetime guarantee pensions. Under certain conditions, retired persons can collect all or part of their old-age assets in the form of freely-available capital. If you would like to collect capital, you must notify your occupational pension institution within the time limit stipulated in their regulations.

In any event, you should contact your pension fund well in advance.

Life insurance: individual pension benefits (3rd pillar)

You can request the payout of the capital from your 3rd pillar at the earliest five years before the ordinary age of retirement.

Contact your 3rd pillar institution to find out what the retirement conditions are and how much money you have saved.

Health and accident insurance

Once you have retired, you will no longer be covered by your employer’s LAA/UVG accident insurance. Before ending your professional activity, please contact your health insurance and ask them to add the accident risk to your basic health insurance coverage.

Once retired, you will face the risk of diminished income. If you have a modest income, you are entitled to a subsidy from your canton to help you pay your health insurance premiums. Here is a list of cantonal offices where you can apply for a subsidy.

Also remember that your health needs change as you get older. You may therefore want to:

• have a health check,
• benefit from a better level of comfort in the event of hospitalisation, or
• do a convalescence cure after an operation.

In such cases, we recommend our Hôpital senior or Vitalis supplemental insurance schemes. Discover the benefits of these schemes below.