Retirement - Asga Pensionskasse

Retirement

Ordinary, early, partial, or deferred retirement – pension or lump-sum withdrawal

Some people can barely wait and are looking forward to their new-found freedom. Others wish to put off retirement and continue working.

Ordinary retirement takes place upon reaching the reference age. Early retirement is only possible as of age 58, with the option of partial retirement. The pension scheme may be continued on a voluntary basis up to a maximum age of 70 provided that gainful employment with the current employer is also continued.

Downloads

myAsga

Plan your retirement now on myAsga and calculate scenarios

Learn more

For questions regarding retirement:

+41 71 228 52 52

Pension or lump-sum withdrawal

At Asga, you have the option to apply for a lump-sum withdrawal of up to 100%.

Before making such an important decision, it is essential to know your own financial needs after retirement. It is therefore advisable to record the fixed costs incurred over the course of a year and total them at the end of the year. In this way, you obtain an overview of the ongoing expenses that will also need to be covered after retirement. If that is too time-consuming, you can either draw up a budget or apply the rule of thumb that assumes costs will amount to 80% to 90% of current outlays.

The advantages of a retirement pension

The advantage of a retirement pension is that it is paid for life. If a married person receiving a pension dies, the surviving spouse will receive 60% of the ongoing retirement pension as a lifelong partner’s pension. In the event of remarriage, the partner’s pension will cease. Civil partnerships that have been reported to Asga during the insured person’s lifetime by means of a beneficiary declaration are treated analogously to spouses. If a person receiving a retirement pension dies within the first five years after retirement or after the last partial retirement stage, an additional lump-sum death benefit equal to five annual pensions less any pension payments already made will be paid out. Pension benefits are subject to income tax.

The advantages of a lump-sum withdrawal

The advantage of a lump-sum withdrawal lies in the flexibility: The pensioner themselves can decide how much money they wish to withdraw. If death occurs at an early stage, the unused capital becomes part of the estate. At the same time, it must be ensured that the retirement capital is sufficient even in the case of a long life. To avoid a financing gap, the capital assets may be invested. Caution: Current financial markets are challenging, and it is difficult to achieve an adequate return. The lump-sum payment is taxed at a reduced rate at the time of withdrawal. Anyone wishing to calculate their tax burden can do so on the website of the cantonal tax authority. Most cantons provide a simple tool for this purpose.

Good to know:

Voluntary purchases made during the last three years before retirement are subject to a restriction on capital payout. If applicable, a partial lump-sum withdrawal may also not be possible for tax reasons. Clarification of these matters is the responsibility of the insured person.

Retirement date

When planning a flexible retirement, various OASI- and OPA-related as well as regulatory requirements must be observed. The timing of drawing a retirement pension differs between the OASI and occupational benefits (OPA). Under the OASI, the retirement pension may be drawn early one or two years before the normal retirement age (from age 62 for women of the transitional generation and from age 63 for men). Under the OPA, early retirement is possible from age 58.

Under both the OASI and occupational pension provision, deferral of pension withdrawal for up to five years beyond the reference age (i.e. up to age 70) is possible. Asga has adopted this time frame, from age 58 to 70, in its Pension Fund Regulation. The pension scheme beyond the reference age may be requested only if gainful employment with the current employer is continued without interruption.

We thus give our insured persons scope to plan their retirement flexibly at the regulatory level as well.

Do not hesitate to contact us at any time if you have any questions about your retirement. Calculate the financial impact of your retirement date under various scenarios on myAsga and contact us.

Conversion rates for retirement assets

Men

	Conversion rate for retirement savings capital
Retirement at the reference age (65)		from 2025
Applicable conversion rate	5,20 %	5,20 %

Early retirement

When calculating the conversion rate at the reference age (65), take the actual year of retirement. The conversion rate is then reduced as follows:

Age	Reduction per year
58 – 65	– 0,15 %

Deferral of retirement

If retirement is deferred, the conversion rate is calculated based on the year in which the reference age (65) was reached. The conversion rate is then increased in line with the actual retirement age as follows:

Age	Increase per year
65 – 67	+ 0,15 %
68 – 70	+ 0,20 %

Woman

Retirement at the reference age
Year of birth	Reference age	Applicable conversion rate
1961	64 + 3 months	5,0875 %
1962	64 + 6 months	5,1250 %
1963	64 + 9 months	5,1625 %
1964 or later	65	5,2000 %

Early retirement

In the case of actual retirement in 2024, take the figure for age 64 (5,25 %) when calculating the conversion rate. In the case of actual retirement from 2025 onwards, take the figure for age 65 (5,20 %) when calculating the conversion rate. The conversion rate is then reduced as follows:

Age	Reduction per year
58 – Reference age	– 0,15 %

Deferral of retirement

If retirement is deferred, the conversion rate is calculated based on the year in which age 65 was reached (conversion rate of 5,20 %). For women born in or before 1960, the reference age of 64 will still apply. The conversion rate is then increased in line with the actual retirement age as follows: