If you wish to withdraw your funds from SURS, you must complete an Application for Separation Refund. Depending upon your citizenship status, you may also be required to submit an IRS Form W-9 or W-8BEN. To obtain the required SURS paperwork: Dial Toll Free: 800-275-7877.
What is a retirement lump sum?
A lump-sum distribution is a one-time payment from your pension administrator. By taking a lump sum payment, you gain access to a large sum of money, which you can spend or invest as you see fit. The lump sum, invested properly, offers flexibility to meet those needs and can be invested to provide regular income, too.”
How long does it take to get retirement refund?
You can typically expect to receive your refund within 30 to 45 days from the date we receive all your necessary forms. However, timeframes can vary if there are holds or other restrictions on your account that require review and action.
What does Surs stand for?
State Universities Retirement System (SURS)
Can you withdraw from the Swiss pension system?
In case your destination country has not an agreement with Switzerland, you may actually apply for a withdraw of your contributions plus your swiss employers’ ones, up to 8.4% of yearly gross salary (while you and your employer paid 12.5%).
How old do you have to be to retire in Switzerland?
During your active years you accumulate retirement assets and then, at retirement age, you can finally use these assets by getting annuities and/or withdrawing lump sums. Traditional Swiss retirement age is 65 for men and 64 for women. I heard they’re going to unify this soon to 65 for both genders.
What’s the max salary for a Swiss pension?
MAX is by definition twice the MIN. Today MIN is 14,100 (1,175 CHF per month), assuming your yearly salary is less than 14,100 CHF. Then there’s a linear zone till a salary of 84,600 CHF per year, when the MAX kicks in and your pension is capped at 28,200 (2,350 CHF per month, or twice the MIN).
Which is the second pillar of the Swiss pension system?
Second Pillar is work pension. Code name: BVG in German speaking Switzerland, LPP in French and Italian Kantons.
