The times when professional life ended abruptly on a fixed date are a thing of the past. More and more employees today desire a smooth transition into retirement – with more personal freedom, reduced working hours, but a longer working phase.
Thanks to legal innovations and flexible retirement models, this transition can be more individualized than ever. Find out here what options are available to you and how to optimally plan your retirement financially.
The three pillars of flexible retirement
The cornerstone of modern retirement planning in Switzerland is the legal anchoring of partial retirement in the BVG. In principle, there is a right to advance retirement benefits from the age of 63, as well as a deferral option until a maximum of 70 years. Many pension funds even allow retirement from the age of 58.
Depending on your life plan and financial situation, three main models are available:
1. The classic early retirement (full benefits from 58/63)
The principle:You completely exit the workforce before the regular reference age.
Financial consequence:Since contribution years are missing and the conversion rate is lower, your pension is reduced. As a rule of thumb, there is a reduction of about5 to 10% per year of early withdrawal.
2. The gradual partial retirement (from 58/63)
The principle:You gradually reduce your workload in up to three steps. Each step must include a reduction of at least 20%.
Financial consequence:You also receive your retirement benefits (as a pension or capital) gradually and combine this income with your remaining part-time salary.
3. Deferred retirement (up to a maximum of 70)
The principle:You continue to work beyond the regular reference age and defer the receipt of your pension.
Financial consequence:By deferring, you will receive a higher pension later (supplements). Additionally, this model is tax-advantaged, but requires continued employment.
Cleverly utilize financial and tax advantages
The newly gained flexibility should be well prepared to avoid unwanted financial bottlenecks. With careful planning, significant advantages can be realized:
Break tax progression through staggered payments:Those who choose to receive capital can significantly reduce their tax burden through staggered payments over several years. Since capital payments are taxed separately from other income at a progressive rate, spreading them over multiple tax years leads to noticeable tax savings.
Insurance coverage and AHV contributions:In the case of partial retirement, you remain insured through the pension fund against risks such as disability or death. Additionally, you are exempt from AHV contributions for non-working individuals as long as you earn an eligible income through part-time work.
"In the past, retirement was a point in time; today it is a process. The earlier you actively manage this process, the more freedom and flexibility you gain for your new phase of life."
Conclusion: Start planning early
The new flexibility in the Swiss pension system offers excellent opportunities to shape the transition into the third phase of life according to one's own ideas. Due to the complexity and the close interconnection of work hours, taxes, and pension benefits, early preparation is recommended.
It is best to plan a flexible exit8 to 10 years before the desired retirement date, in order to fully exploit all optimization possibilities.
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