Purchasing pension fund benefits

Continuity is key for good pension provision. By closing any pension gaps in your Pillar 2 provision, you are taking a big step in the right direction. The maximum amount you can purchase is shown in your pension fund certificate. In the myAXA pensions portal, those insured with AXA will be able to calculate online the projected increase in benefits following a purchase.

Close pension gaps

Whether your salary increases, you join the pension fund after age 25, you divorce, or you take time off to care for children, your savings with your occupational benefits insurance may be insufficient as a result. You can, however, close this pension gap and improve your coverage by purchasing additional benefits.

Key aspects when purchasing additional pension benefits

Advantages

Close pension gaps
Improve retirement benefits
Finance early retirement
Save on taxes

Pension gap

A pension gap is the difference between your maximum possible retirement assets and those actually available to you. Pension gaps are common. They can be filled by purchasing benefits so as to avoid benefit reductions in old age.

Reasons for pension gaps:

Gaps in gainful employment
First job after age 25
Changing from part-time to full-time working
Salary increases
Improved pension plan following change of job
Pension gap following divorce due to division of pension fund assets
Early retirement

Taxes

As you can deduct pension fund purchases from your taxable income, a purchase of pension fund benefits always leads to tax optimization. You can carry out a provisional calculation by using the Swiss Federal Tax Administration's tax calculator.

To the Tax calculator

Maximum purchase amount

Compare the maximum possible retirement assets with the amount that is currently available. The difference is the maximum purchase amount. Refer to your pension fund certificate or your employer for more information.

Restrictions

In principle, a purchase is possible at any time, provided that this is permitted under your pension fund regulations. Any advance withdrawal for financing the purchase of residential property must be repaid unless you would like to close a pension gap that has arisen through divorce.

Procedure

Inform your pension fund about your desired purchase or use the online calculation and the forms service on this online portal. After submitting the completed form you will be informed of your maximum purchase amount and will receive a payment slip.

The new myAXA pensions portal

Anyone who works for a company whose pension fund is managed by AXA can benefit from many advantages. Because the insured employees have access to the myAXA pensions portal. Thanks to this online portal, you - as an employee - can take the planning of your pension provision and the calculation of possible future scenarios into your own hands. Otherwise you have to ask your employer or your HR department for the relevant information.

The benefits of the myAXA pensions portal

Clarity: Employees can view all the information on their pension fund online in myAXA at any time – with simple and clear explanations.
Better planning for the future: In myAXA it is possible to calculate the impact on pension benefits of an advance withdrawal for the purchase of residential property or of a voluntary payment for tax optimization purposes.
Potential purchases: Thanks to myAXA it is possible to identify and close pension gaps.

From the end of 2017 or at the latest at the start of 2018, the insured in an AXA pension fund will benefit from the advantages of the new pensions portal on myAXA. You will receive a letter from AXA with the access data that allows you to register with myAXA with just a few clicks.

To the myAXA pensions portal

Support and frequently asked questions

Am I allowed to transfer my Pillar 3a assets into my pension fund?

Yes, you can purchase additional pension benefits by using assets from Pillar 3a. The assets you transfer will not affect your tax situation.
I previously worked abroad and would like to transfer the pension assets that I accrued there into a Swiss pension fund as vested benefits. Is that an option?

This is only possible by purchasing additional contribution years from your Swiss pension fund.
Can I purchase benefits in the amount that was deducted from my pension fund following divorce?

That is possible and makes good sense. The retirement assets that are paid to the divorcee may lead to a major gap in your pension fund assets. In this case, purchasing benefits will compensate for the shortfall. This applies even if you have not yet repaid an advance withdrawal for the financing of residential property.
Until when is it possible to purchase benefits following divorce?

As a rule, purchases of this kind are possible until a benefit case (i.e. retirement, disability, or death) occurs.
Can I purchase missing contribution years in my pension fund if I'm already fully disabled?

No. In this situation that's no longer possible. As the insured, any scope that you had to adjust your pension situation ends with the onset of a benefit case (e.g. disability).