Ordinary retirement takes place upon reaching the reference age. Early retirement is only possible as of age 58, with the option of partial retirement. Alternatively, 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 continued.
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Retirement at the reference age
Ordinary retirement takes place upon reaching the reference age.
Important
Asga does not impose a deadline for notifying a lump-sum withdrawal. You may therefore make this decision up to the time of your retirement.
Voluntary purchases made during the last three years before retirement are subject to a restriction on capital payout. In some cases, a partial lump-sum withdrawal may also not be possible for tax reasons. Clarification of these matters is the responsibility of the insured person.
Procedure
- Your employee automatically receives the retirement documents two months before reaching the reference age in order to inform us of the desired form of benefits.
Early retirement
Retirement takes place before reaching the reference age.
Important
Asga does not impose a deadline for notifying a lump-sum withdrawal; you may therefore make this decision up to the time of your retirement. In the case of early retirement, a reduced conversion rate is applied.
Procedure
- Two to three months prior to the retirement date, you will submit to us a notice of termination or notify us of the termination via our online portal, adding the remark “early retirement”.
- Your employee receives the retirement documents in order to inform us of the desired form of benefits.
Partial retirement
From the age of 58, the insured person may, with the employer’s consent, request partial retirement. The first partial retirement stage must amount to at least 10%.
Important
- Any subsequent increase in the degree of employment after partial retirement has been implemented does not affect the partial retirement. If the reduction in salary and degree of employment is only temporary, partial retirement is not possible.
- There is a maximum of five partial retirement stages, but the withdrawal of retirement benefit in the form of capital is permitted only up to a maximum of three stages. In the event of more partial retirement stages, the benefits may only be drawn as a pension.
- The degree of employment and the salary must be reduced in line with the degree of partial retirement.
Procedure
- Send us the form Notification of changes for partial retirement.
- We will send you a list of benefits/contributions showing the newly insured salary. The updated insurance certificate is sent directly to the employees concerned.
- Payment in the desired form will be made to your employees once all the required details have been provided.
Deferral of retirement
Gainful employment is continued beyond the reference age. In this case, there is the option of continuing the pension scheme on a voluntary basis. Alternatively, it may be continued without contributions; in this case, the accumulated capital will continue to earn interest.
Important
- The previous risk contribution is discontinued in full.
- The retirement benefits and conversion rate will increase. In the case of non-contributory continuation of pension cover, the retirement benefits increase only by the amount of the current interest.
- Definitive withdrawal is possible at any time.
Procedure
- Please submit a written confirmation signed by both the employer and the employee. This confirmation must state that the employment relationship will continue beyond the ordinary retirement age and that the savings contributions are to be continued on a voluntary basis. The employee decides whether the continuation of pension cover should be with or without savings contributions. The contributions are distributed as before, and administrative costs continue to be incurred in all cases. In principle, contribution parity continues to apply (i.e. as the employer, you must continue to bear at least half of the contributions).
- We will send you a list of benefits/contributions showing the newly insured benefits. The updated insurance certificate is sent directly to the employees concerned.
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