Second Pillar (2nd pillar) mandatory vs. extra-mandatory part

gaijin

gaijin

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Since I recently switched jobs, I got to experience the process of transferring my 2nd pillar to a vested benefits accounts. Two experiences and learnings from this process:
  • The mandatory part of my pension is only 21% of the total pension. According to my pension fund advisor, there are still some pension funds (he mentioned Gastro and construction) that only insure the mandatory part. That's crazy, I would have lost 80% of my pension had a worked in such a job.
  • I chose to open two vested benefit accounts and transfer the mandatory part to one account and the extra-mandatory part of the other account. In the end both my vested benefit accounts were informed that the total money they received was composed of 21% mandatory pension and 79% extra-mandatory pension. So my planned separation of mandatory and extra-mandatory part did not work they way that I intended it.
 
Thanks for sharing!

Interesting, I had never looked in detail at the mix. I have 29% mandatory and this will come even lower with time.

Did you have the option to split 50/50?
 
gaijin said:
I could split in whatever breakdown I chose, probably even extreme ones like 5/95. I tried to guess and anticipate my mandatory/extra-mandatory distribution and spilt it accordingly.
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Thanks for sharing; it's good to have options.

It's a good reminder to be careful about the splitting.
 
Interesting difference between Viac and finpension:
On Viac, the two parts are clearly labled and separated. I could even choose a different strategy for the two parts.
On finpension I just see one amount, no separation.
 

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gaijin said:
Interesting difference between Viac and finpension:
On Viac, the two parts are clearly labled and separated. I could even choose a different strategy for the two parts.
On finpension I just see one amount, no separation.
Click to expand...
Didn't you say you transferred mandatory to one and extra-mandatory to another?

How come you have both in VIAC?
 
Baptiste Wicht said:
Didn't you say you transferred mandatory to one and extra-mandatory to another?
Click to expand...
This was my original plan. However, my previous pension provider (Publica) told me that this was not feasible (not sure of the exact reason). I could simply specify too different vested benefits providers and indice an amount that each of them should receive. The two amounts of course had to sum up my total pension assets. Publica then calculated the mandatory part and the extra-mandatory part (in %) and informed each provider of this % and the corresponding amounts. As for Viac, they made this information available to me through their website. As for Finpension, I don't know if they also keep the information and don't show it to me or if discarded the information.
 
Thanks, that makes sense.

It's indeed interesting that they do not both show this information. I would be surprised if they discarded the information. I would think that if you move this money back into another pension fund, this information would become important.
 
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