The current status of the AHV 21 reform

For women of the transitional generation (born between 1961 and 1964), the reference age will be gradually increased as shown in the table below. For women born in 1964 whose entitlement to vested benefits arose in 2023 at the age of 59, the option of early withdrawal will not be lost when AHV 21 comes into force. Women born in 1965 or later are entitled to withdraw their vested benefits early at age 60.

Example I: A woman (born 3 May 1965) turned 58 in the year 2023. She would like to withdraw her vested benefits in 2024 at the age of 59. She may do so at the earliest in 2025 at the age of 60 (from 3 May 2025).

Example II: A woman born on 30 November 1961 can withdraw her vested benefits until 31 December 2029 without proof of gainful employment. She can continue to postpone the withdrawal until 28 February 2031 (69 years and 3 months) under the condition that she provides proof of gainful employment.

Deferral of withdrawal of vested benefits (women and men)

Currently, withdrawal of vested benefits may be deferred for up to five years beyond the statutory retirement age, i.e., up to a maximum age of 69 for women and 70 for men. It does not matter whether the person continues in gainful employment or not.

After the transitional period has passed, from 1 January 2030 deferral by up to 5 years after reaching the statutory reference age will only be possible if gainful employment is continued and this is confirmed and proven in writing to the vested benefits foundation. For those born in 1965 or later, it is no longer possible to defer the withdrawal of vested benefits without proof of gainful employment.

In order not to jeopardize planning security, the ordinance provides for a transitional arrangement for the period from 1 January 2024 to 31 December 2029 for all persons who wish to defer the withdrawal of vested benefits beyond the reference age. They can defer withdrawal during this period without proof of gainful employment.

Proof of gainful employment (from 1 January 2030)

To continue using your UBS Vested Benefits Account after reaching the reference age, you must submit a form confirming further gainful employment and proof of gainful employment to the UBS Vested Benefits Foundation. Further information will be provided at the appropriate time.

Early withdrawal of vested benefits

An early withdrawal can still be made at the earliest 5 years before reaching the reference age. In this case, you must fill out the form “Payout UBS Vested Benefits Account” and submit it to the UBS Vested Benefits Foundation.

Do you have any questions about your vested benefits account or the forms? Please call us at 061 226 75 75.

For women of the transitional generation (born between 1961 and 1964), the reference age will be gradually increased as shown in the table below.

The withdrawal deadlines for 3a funds are also changing (see table below). With the increase in the reference age, the latest possible withdrawal date for 3a funds is also changing accordingly. In addition, as of 1 January 2024, women born in 1965 or later will be able to withdraw their 3a funds at the age of 60 at the earliest.

Example I: A woman (born 3 May 1965) is 58 years old in 2023. She would like to withdraw her pillar 3a balance in 2024 at the age of 59. She may do so in 2025 at the earliest, once she has turned 60 (from 3 May 2025 to 3 May 2030).

Example II: A woman born on 30 November 1961 must have withdrawn her pillar 3a assets by 28 February 2026 at the latest (at the age of 64 years and 3 months) if she is no longer gainfully employed.

Deferral of withdrawal of pillar 3a assets

As before, a deferral of the withdrawal of assets from the Fisca account is only possible if gainful employment is continued. For women and men, a deferral is possible up to a maximum of five years after reaching the reference age.

To be able to continue using your UBS Fisca Account after you have reached the reference age, you must submit the form “Confirmation of gainful employment subsequent to reaching the statutory retirement age as required to prolong/open a restricted pension account (pillar 3a)” as well as proof of employment in the form of a current pay slip, a confirmation of employment or a copy of your employment contract to the UBS Fisca Foundation. These documents are to be submitted to the UBS Fisca Foundation in good time before the reference age is reached. After deferral, you must report when you cease employment to the UBS Fisca Foundation without being requested to do so.