Any Swiss / EU NI experts out there?

johnwilliambray

It's a simple NI / pension contributions question.

I've been abroad 10 years so NI contributions are v behind. Not overly worried as i'll buy back some years at some point (I should be more concerned but hey) however it is important context.

I just did 3 years working in Switzerland. They have 3 pillars.
1- tax 2 - social security 3- private pension (optional)

2- I can get back now i've left or leave it there in the swiss social security pension scheme
.
Because Switzerland are part of the EU scheme on social security, they are liable to pay the UK unless I am moving abroad. I am actually moving to the USA, certainly a non EU country.

So I think, I have the option to either
a) take the cash and put it into a different pension pot of my choosing.
b) let the swiss bank and UK HMRC tell me the amount I am due to pay the UK in those 3 years and they will simply transfer the money to that scheme.

first question, are my options correct.

second q..
The total amount I accrued in Switzerland is significantly more than the total of 35 per week would be over three years. Therefore, the benefits of B seem to be that I would also get some cash back so actually could do some A and some B.

I think i'm missing something. So i thought i'd ask here first. Anyone with any definitive knowledge on this it would be most appreciated.

thank you

johnwilliambray

Also, the 'first pillar' in Switzerland is 'old age insurance' so surely covers some of the pension?

Dox

johnwilliambray wrote: »

It's a simple NI / pension contributions question.

Sadly no such thing!

Sounds as if you need expert advice from a properly informed professional. Probably your best bet is one of the major firms of accountants or employee benefit consultancies with offices internationally.

FatherAbraham

johnwilliambray wrote: »

It's a simple NI / pension contributions question.

I've been abroad 10 years so NI contributions are v behind. Not overly worried as i'll buy back some years at some point (I should be more concerned but hey) however it is important context.

I just did 3 years working in Switzerland. They have 3 pillars.
1- tax 2 - social security 3- private pension (optional)

2- I can get back now i've left or leave it there in the swiss social security pension scheme
.
Because Switzerland are part of the EU scheme on social security, they are liable to pay the UK unless I am moving abroad. I am actually moving to the USA, certainly a non EU country.

So I think, I have the option to either
a) take the cash and put it into a different pension pot of my choosing.
b) let the swiss bank and UK HMRC tell me the amount I am due to pay the UK in those 3 years and they will simply transfer the money to that scheme.

first question, are my options correct.

second q..
The total amount I accrued in Switzerland is significantly more than the total of 35 per week would be over three years. Therefore, the benefits of B seem to be that I would also get some cash back so actually could do some A and some B.

I think i'm missing something. So i thought i'd ask here first. Anyone with any definitive knowledge on this it would be most appreciated.

thank you

It's an EEA-wide social-security agreement which the Swiss Republic is also part of, not an EU scheme (so Iceland, Norway and Liechtenstein are also within the pact).

Does Switzerland apply a minimum period of contribution for getting a pension? (The UK has retrospectively applied a ten-year minimum with the new state pension). If so, you have a Brexit-related risk, about whether you'll be able to use your UK NI contributions to help you reach the Swiss minimum, after the UK leaves the EEA. I don't know anyone who knows what will happen in this case.