Regular reports, straightforward processes and a transparent cost model ensure that the pension solutions offered by the GEMINI Collective Foundation are well-defined and easy to understand.
For salary adjustments during the year, please complete the salary notification form. Each December, you will receive the salary notification list specifying salary adjustments as per 1 January.
Please notify us of any changes in the marital status of your employees using the fileadmin/user_upload/gemini_redesign/EN/Kundenservice/Formulare/GEM_Mutation_E.pdfchange of circumstances form.
Please notify us of any member’s incapacity for work as soon as possible after the illness or accident has occurred.
Please always complete the incapacity for work form and enclose the daily allowance accounts of the accident or health insurance.
Please complete the first section of the departure notification form when members leave the benefits unit.
The respective members are responsible for completing second section and returning the form either via the employer or directly to GEMINI.
Members may effect voluntary buy-ins in order to improve their individual pensions
Further information regarding members’ voluntary buy-ins
Members may use their retirement assets to purchase owner-occupied residential properties.
Further information regarding members’ advance withdrawals
The employer is responsible for completing the entry form for new members.
Should you have been insured in an occupational pension scheme with a previous employer, you are entitled to a termination benefit. Your previous pension fund will transfer the amount directly to GEMINI where it will be credited to your individual savings account. If you have not been a member of a Swiss employee benefits unit before, you may increase your benefits through voluntary buy-ins. Special provisions apply to UK nationals.
Please notify the pension fund of any cohabiting partners or registered partners.
Members may benefit from the government’s encouragement of home ownership (WEF) scheme and either make advance withdrawals of their savings capital or pledge the capital:
- Construction of residential property as principal
- Construction of residential property based on service contract
- Acquisition of residential property
- Amortisation of an existing mortgage
- Acquisition of share certificates in a housing cooperative
- Investments leading to an increase in property value
Main conditions for advance withdrawal or pledging:
- Member occupies the property
- Minimum advance withdrawal: CHF 20,000
- Advance withdrawals can be made every 5 years
Any advance withdrawal or pledging reduces the savings capital and affects the amount of the benefits. Voluntary buy-ins cannot be made until the withdrawal has been fully repaid.
Difference between advance withdrawal and pledging:
- Advance withdrawal: The withdrawal provides you with equity capital that serves as additional financing base and reduces the interest expenses.
- Pledging: Pledging of retirement assets results in lower interest rates for a second mortgage. Alternatively, the amortisation obligation can be deferred. The savings capital remains unaffected.
You may increase your savings capital through voluntary buy-ins. Your pension certificate specifies you buy-in potential.
Voluntary buy-ins increase your retirement savings and the associated benefits. In the event of your death, the savings are paid to your surviving dependents in addition to the lump-sum death benefit.
Tax savings: Voluntary buy-ins can generally be deducted from income in the year they are made. In the case of a lump-sum withdrawal upon retirement, you benefit from a reduced tax rate. Please contact your tax authority to enquire about the applicable regulations.
If you have made an advance withdrawal under the encouragement of home ownership (WEF) scheme, you may not effect any buy-ins until the withdrawal has been fully repaid. Benefits arising from voluntary buy-ins may not be drawn as a lump sum in the first 3 years following the buy-in.
For further information, please consult the buy-in form.
The employer is responsible for completing the first section of the departure notification form and delivering it to the respective member. The latter is responsible for completing the second section and returning the form to GEMINI.
What happens with the termination benefit?
- In the case of your departure, any accrued savings capital is payable in the form of a termination benefit. Should you move to a new employer, GEMINI will transfer your termination benefit to the new employee benefits unit.
- Should you not join a new pension fund after your departure, you have various options for continuing your pension provision: A vested benefits account with a bank, a vested benefit policy with an insurance company or transfer to the Substitute Occupational Benefit Institution (www.chaeis.net/en/home).
- Cash payments are possible if you no longer live and work in Switzerland, if you are starting your own business or if your termination benefit is lower than your annual pension fund contribution. Special regulations apply to the transfer of pension assets to the UK (see fact sheet).
The detailed regulations are set out in the departure notification form.
The year of retirement is specified in the Framework Regulations of the GEMINI Collective Foundation and in the pension plans of the individual employee benefits units.
Depending on the pension plan, the savings capital can either be drawn as a pension or as a lump sum. Combinations are also possible. Benefits from voluntary buy-ins cannot be drawn as a lump sum within the first 3 years of the payment date.
Please use the Notification of retirement to inform GEMINI in due time about your preferred form of retirement benefit.
The annual pension is calculated with the help of the conversion rate. The actual conversion rate depends on the retirement age and is consistent with a percentage of the accrued capital.