Leaving: transfer of vested benefits
When an insured member leaves the Syngenta Pension Fund, the vested benefits are transferred to the pension fund of the new employer. In special cases, a cash disbursement is possible.
If the contract of employment is terminated, the insured person leaves the Pension fund and is entitled to vested benefits. When a person leaves the Syngenta Pension Fund, the portable sum is transferred to the occupational benefits scheme of the new employer or to a vested benefits institution of the person's choice.
A cash disbursement is only possible if the insured person takes up self-employment or is leaving Switzerland permanently.
If the Pension Fund does not receive any notification on how the vested benefits are to be used, the portable sum will be transferred to the BVG Suppletory Institution (Article 60BVG) six months after the person leaves the Pension Fund (possible costs of the transfer will be at charge of the person leaving the pension fund.
How are the vested benefits made up?
The vested benefits (portable sum) correspond to the existing retirement savings at the time of leaving (incl. interest).
Can the capital also be left in the Pension Fund?
Once the employment contract is terminated, the insured person has to leave the Pension Fund. If no instructions regarding the use of the vested benefits are received, they must be transferred to the Substitute Occupational Benefits Institution.
Which are the conditions applicable for a cash disbursment?
The detailed conditions for a cash disbursement are stipulated in the respective information sheet of the Pension Fund.
Download the file 'Regulations of Syngenta Pension Fund' and refer to 'Leaving, Art. 20, 21 & 22'