Checklist for retirement planning

• Draw up an overview of your assets (real estate, account balances, pillar 2 and pillar 3 pension assets, securities, life insurance, investments, inheritance entitlements, etc.) and your debts (mortgage, etc.). Indicate the availability of the individual assets.

• Set the date of your retirement.
• Check how much of your pension fund assets you can withdraw as a lump sum and by when you need to request a lump-sum payment.
• Carefully weigh up the pros and cons of drawing a pension or a lump sum before deciding whether to take the entire amount as a pension or have at least part of it paid out. Our tips for this important decision will help you.
• Now is often the last opportunity to make a tax-efficient pension fund buy-in – especially if you want to have your pension savings paid out as a lump sum when you retire. First calculate the return on your buy-in and compare it with other investments before taking a decision.

Think about your living situation. Do you want to keep your house, or would you like to move into an apartment when you retire? Decide whether you want to repay your mortgage in part or in full and adjust the terms accordingly. If you want to exchange your house for an apartment, you should look into the financing early on.

• Decide when you want to withdraw your pillar 2 and pillar 3a pension assets. Distribute your withdrawals over several years. You can generally save several thousand francs in taxes that way.
• Redefine the goals for your assets. Do you need to consume them in a controlled manner to secure your income, or can you afford to preserve the capital for your heirs?
• Think about how you want to secure your income after retirement. For example, is it worthwhile to buy life annuity insurance, or is it better to invest this money yourself and spend it according to your own plans?
• Define your new investment strategy.
• Draw up a detailed financial plan that shows your expenses, income and assets in the period up to and after your retirement.
• Look for a trustworthy advisor who will support you in all your important decisions and draw up a reliable financial plan for you.

Restructure your assets so that your income is secure in the long term and adjust your investment strategy accordingly.

• Choose a suitable asset manager if you don't want to determine your investment strategy alone or manage your assets yourself.
• Cancel your mortgage in good time if you want to repay all or part of it when you retire.
• Check whether you should appoint an executor in your last will and testament.
• Plan your estate now at the latest. Protect your loved ones with a will, a marriage contract or an inheritance contract. Estate planning is even more important if you have all or part of your pension fund assets paid out as a lump sum.

• Register your retirement with your OASI compensation office at least six months before your last day of work to ensure that your first pension is transferred on time. Even if you wish to defer drawing your pension, it's best to inform your OASI compensation office now.
• Before your retirement date, pay the pillar 3a contribution for your last working year.

• Check whether your spouse has to pay OASI contributions if he or she hasn't yet reached OASI retirement age and isn't in gainful employment.
• Always keep an eye on your finances. Make sure you stick to your financial plan so that you don't suddenly run out of money later on.
• Adapt your planning if your situation or the legal framework changes.
• If you remain in gainful employment beyond the normal retirement age, you can continue to pay into pillar 3a for up to five years. Check whether this is worthwhile in your case.

• Clarify when you can draw your pension fund benefits and your OASI pension at the earliest, and ask your OASI compensation office and your pension fund to calculate your expected retirement pension for your desired retirement date.
• Ask your employer whether they will support your early retirement financially, for example with a bridging pension until you reach regular retirement age.
• Check whether it makes sense to withdraw your OASI and occupational pensions in advance or whether it would be better to draw a bridging pension. Consider other ways of bridging the income gap too, such as withdrawing your pillar 3a assets early.
• After taking early retirement, register with your OASI compensation office and pay the OASI contributions for non-employed persons. Any gap in contributions can lead to a reduction in your pension. Enquire about ways in which you can reduce your OASI contributions (e.g. partial retirement or a part-time job).