How your benefits are paid out depends on the pension fund regulations and your personal situation. You have three options:
1. Drawing a pension:
Better protection: Most people opt for a pension from their occupational benefits insurance, which guarantees you a lifelong income. Your accrued assets are converted into a pension on the basis of the conversion rate, which is set by the Federal Council.
2. Lump sum withdrawal:
If permitted by your pension fund regulations, you can have your entire retirement benefits paid out as a one-off lump sum. This gives you additional scope in realizing your plans. You will need to notify your pension fund of your wish. The regulations specify any deadlines. As a rule, lump sum withdrawals must be requested up to 3 years before retirement.
3. Mixed form:
It must always be possible to withdraw 25% of your statutory retirement assets as a lump sum. Many pension funds offer a 50/50 option, which means you can benefit from both protection and flexibility.