Planning your retirement

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Are you over the age of 50? Then you are slowly approaching the third phase in life. Regardless of whether you are thinking of retiring early, planning to take regular retirement, or want to continue working after reaching retirement age: You need to plan your retirement savings carefully.

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A well-planned retirement

If you are 50 or older, we recommend you start actively planning your finances for the time after you stop working. This way you will have plenty of time to plan and take the necessary steps.

How can I best plan my retirement?

Retirement age marks the start of an exciting time with lots of new opportunities. You will finally have more time to do what you want – vacations, traveling, hobbies, sports, grand-children, friendships, and the list goes on. So there are plenty of reasons to look forward to retirement. But you need to make sure you don’t put off making the important decisions. By carefully planning your financial future, you can look forward to a carefree retirement.

Early 50s is when you should start reading up on the pension fund rules and gathering general information. For example, you should find out whether your pension fund lets you retire early or if you can semi-retire. That way you will have an initial overview of your options.
Mid 50s is when you should start thinking about what is the right time for you to retire. What are the benefits of retiring early, retiring when you reach retirement age or deferring retirement? You should also think about if you want to ease into retirement or if you want to just stop working from one day to the next. Please note: Flexible retirement and semi-retirement are only possible with pension funds; they are not an option with OASI.
Your 60s is when you need to decide how you want to draw your retirement savings: as a pension, as a lump sum or a mixture of both? What option you decide on will depend on your individual circumstances. This blog post includes a guide for you. Please note that depending on the pension fund, lump-sum withdrawals have a registration deadline of up to three years.

How much will I receive when I retire?

Once you retire, your income will come from several different sources:

OASI pension – max. CHF 2,450 for individuals / CHF 3,675 for couples (as of 2024)
- only if you have contributed for the full number of years (with no gaps from age 21 up to the reference age or retirement age) and
- have an average annual income of at least CHF 88,200 (as of 2024)
- education credits/care credits raise the average earned income
OPA pension or lump sum, depending on your retirement savings
Any money saved in the 3rd Pillar (3a and/or 3b)
Any social security/daily benefits
Any earned income from part-time jobs
Any income from investments and rent

Planning your early retirement – what do you need to know?

If you want to retire early, your pension will be considerably smaller. Until now, you could draw your OASI pension one or two years prior to the regular retirement age. The introduction of the OASI Reform 21 will give you more flexible pension options in the future. You will be able to draw your OASI pension between the ages of 63 and 70. Women in the transitional age group will be able to draw their pension starting at age 62.

The reference age (formerly: normal retirement age) for both men and women is 65. For women born in 1961 or later (transitional age group), the reference age will be gradually raised by three months every year. In general, you can make a full or partial withdrawal two years before you reach the reference age (formerly: normal retirement age). You should also consult the rules of your pension fund.

Tax optimization for retirement

When and how you take out your retirement savings from the pension fund or your 3a accounts makes a tremendous difference, because taxation varies greatly depending on the time and amount of the withdrawal. So, if you gradually take your OPA savings out of your 2nd Pillar account over a longer period of time, you could easily save several thousands of francs in taxes. You can make withdrawals starting five years before and up to five years after the regular retirement age. This same principle applies to withdrawing your funds from your 3rd Pillar pension over multiple tax years.

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Frequently asked questions

How much can I expect from my OASI pension when I retire?

The minimum and maximum retirement pension for individuals and married couples can vary from year to year. The pension you receive will depend on your average income as well as whether you have been paying your OASI contributions from age 21 without any gaps up to the reference age. Since calculating your pension is complicated, starting at age 40, OASI lets you request a pension forecast from them free of charge every five years. You can use the online pension estimate to give you a rough idea of your future retirement pension.
What is a pension gap and how can I avoid it?

If you want to maintain your accustomed standard of living, you will need around 80% of your most recent gross salary every month. If the amount paid out after retirement is less than this, this is what is known as a pension gap. Pension gaps can be avoided by making financial preparations for the period after retirement with suitable retirement solutions. Incidentally, this is also a smart way to save on taxes and achieve your individual savings goals.
From what age can I take early retirement?

The introduction of the OASI Reform 21, which enters into force on January 1, 2024, will replace the normal retirement age that has been used up to now with the reference age. The reference age defines the time from when it is possible to start drawing a full pension without any reductions. The reference age for both men and women is now 65. To this end, the reference age for women will be gradually raised from 64 to 65 starting in 2025 (the transitional age group).

The OASI Reform 21 means that the OASI pension can now be drawn anytime between the ages of 63 and 70. Women in the transitional age group will have the option of drawing their pension starting at age 62.

You should also consult the rules of your pension fund, which explain what options your occupational retirement plan offers you. Generally, occupational retirement plans let you retire at age 59, although there may be exceptions. You should consult the rules for your pension fund to be sure.
How much do I stand to lose in benefits by retiring early?

Drawing retirement benefits impacts both the amount of your OASI pension and your pension from your pension fund. If you retire early, both pensions will be lower than if you retired at the reference age. You can go online to calculate the estimated pension benefits you will receive from OASI and your pension fund on the date you want to start drawing them.

Can I defer my retirement? If so, for how long?

Swiss law lets you defer drawing your pension up to the age of 70 (i.e. up to five years after you have reached the reference age).

In contrast to early withdrawals, deferring your OASI pension means you will receive more due to supplements. Contributions that you pay into OASI after you have reached the reference age will also be taken into account in the calculation of your retirement pension. Pensions from a pension fund depend on the provisions of the relevant pension fund regulations. Deferrals result in a higher conversion rate and hence a bigger pension.
How do I declare the pension and the retirement capital?

All pensions must be declared as income; retirement capital, on the other hand, is subject to a reduced rate depending on which canton you live in. We recommend that you contact your local tax office.

Investing money profitably

Make more out of your money. EasyInvest can help you do just this. It’s a simple and profitable way to invest your disposable money and retirement savings.
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Save taxes thanks to 3a

If you pay your 3a money into several accounts, you will have the option of making staggered withdrawals and earn attractive tax advantages when you retire.
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Protecting you and your family

Safeguard yourself and your loved ones against hard luck by insuring yourself against the risks of death and occupational disability.
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Always there for you

Do you have any questions, or would you like a no-obligation pension consultation? Our experts are there for you.

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Additional information for planning your retirement

The three-pillar system: a simple explanation

The purpose of the Swiss pension system with its three pillars is to ensure financial security for people in Switzerland in old age, in the event of disability and in a death case.

Learn more