Leaving

If you leave Novartis permanently, your vested benefits will fall due for payment. The procedure is as follows:

General aspects

If you decide to leave Novartis permanently, your membership of our Pension Funds also comes to an end. This means your vested benefits will fall due for payment at the end of your contract. Extended cover is only provided for the risks of disability and death for a maximum of one month, provided you have no new employer after you leave. You will automatically receive forms from us, which you must use to inform us by up to two weeks before you leave what should be done with your vested benefits. This also applies if you are transferring to Novartis abroad with a local contract. After transfer, you will receive a confirmation from us, together with a detailed exit statement.

A distinction is drawn between the following scenarios:

  • Remaining in Switzerland
  • Deregistration for relocation to a state within the European Union
  • Deregistration for relocation to a state outside the European Union
  • Cash disbursement in view of the small sum involved

Remaining in Switzerland

If you are remaining in Switzerland, you must complete Form A and return it to us with the necessary enclosures mentioned in the form.

Move to a new employer

If your next employer is located in Switzerland, we need the bank details of the employer’s pension fund. Your vested benefits will then be transferred there after you leave. If you do not achieve the minimum salary for admission to the new pension fund with your next employer, the vested benefits must be transferred to a vested benefits account with a bank or a vested benefits policy with an insurance company.

Temporary suspension of gainful employment

If you are still looking for a job, your vested benefits must be transferred to a vested benefits account with a bank or a vested benefits policy with an insurance company.

Taking up self-employment

If you take up self-employment it is possible to have all your vested benefits paid out in cash minus any voluntary extra contributions paid in over the last three years. For this we need not only your bank details, but also confirmation from the AHV that you are officially registered as self-employed. Alternatively you can have your vested benefits transferred to a vested benefits account with a bank or a vested benefits policy with an insurance company.

Deregistration for relocation to a state within the European Union

If you are leaving Switzerland permanently and moving to an EU Member State, you must complete Form B and return it to us with the necessary enclosures mentioned in the form. The non-compulsory part of your vested benefits may be paid out in cash when you leave. The compulsory part of your vested benefits (BVG part) and any voluntary extra contributions paid in over the last three years must be transferred to a vested benefits account with a bank or a vested benefits policy with an insurance company. Alternatively the non-compulsory part may also be voluntarily transferred to the vested benefits account or policy. In this case, you must complete Form A by way of an exception.

Deregistration for relocation to a state outside the European Union

If you are leaving Switzerland permanently and moving to a country outside the EU, you must complete Form B and return it to us with the necessary enclosures mentioned in the form. All your vested benefits may be paid out in cash. However, any voluntary extra contributions paid in over the last three years must be transferred to a vested benefits account with a bank or a vested benefits policy with an insurance company and cannot be paid out until a three-year blocking period has elapsed. Alternatively the non-compulsory part may also be voluntarily transferred to the vested benefits account or policy. In this case, you must complete Form A by way of an exception.

Cash disbursement in view of the small sum involved

Regardless of where you settle in the future, you may have your vested benefits paid out in cash if the portable sum is smaller than the annual contribution. In this case, you must complete Form A and return it to us with the necessary enclosures mentioned in the form.