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If you are planning a long trip or an extended stay outside Switzerland, it is advisable to set up a financial buffer. But keep an eye on your pension as well. For example, if you pay into pillar 3a before your departure, you can further reduce your tax burden. However, you can only do this if you have a taxable income in that particular year.
Beware of creating a shortfall in your old-age and survivor’s insurance (OASI) by being away for a year, for example. If you miss a year's contributions, the pension that you draw will be reduced by 2.3% per year for the rest of your life. You can avoid this by making additional payments during the five years following your return, but you must have resided in Switzerland during this period. You can obtain a rough estimate of your monthly OASI pension here.
Remember to check your insurance cover if you plan to travel or reside abroad for a long period of time. Are you covered if you become ill abroad and incur high medical expenses? Are you insured in case you need or wish to be transported home in the event of illness or accident?
The subject of pensions is complex. There is often not enough time to research everything in detail. If you wish, you can seek advice from our partner service Optimatis. Our experts have the information that you may spend a long time searching for. Benefit from their expertise by arranging a no-obligation consultation.
The independent partner service Optimatis and its qualified staff will work with you to establish a clear overview and produce a snapshot of your current situation. Optimatis can offer you the solution that best fits your needs from the wide range available on the market – a good reason to seek advice from an independent expert.
You just need to request an appointment and a specialist advisor will be in touch with you. During the meeting, you can decide how and whether you wish to proceed with the solutions proposed.
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