You are entitled to retirement benefits when your employment contract is terminated at the earliest when you reach the age of 60 and at the latest when you reach statutory retirement age (65 for men and women).
The existing retirement assets are converted into a lifelong pension according to the conversion ratio applicable for your age at the time of retirement.
The retirement pension may be paid out up to a maximum of 50% in the form of a retirement lump sum. In the case of married insured members and registered partners, written and officially authenticates consent of the spouse / partner is also required.
You also have the option of increasing the spouse’s pension from 60 to 100% of the current retirement pension with effect from the time of pension payment. To finance this improved spouse’s pension (or survivor’s pension), your immediate retirement pension is reduced for life.
The savings assets available at the time of your retirement may be paid out optionally as a one-off lump sum or as a temporary bridging pension until you reach statutory (AHV) retirement age.
The child pension amounts to 20% of the retirement pension and is paid out until the age of 20 or, for children in education, until the age of 25 at the latest.
We shall inform you about the various possible arrangements and options in due course. Please let us know your decision not later than three months before retirement using the relevant form.
You can approach us at any time and request an individual, non-binding calculation in advance of the retirement benefits you can expect.
From the age of 60. The retirement assets at the time of early retirement are converted to a lifelong retirement pension using the corresponding (reduced) conversion rate.
It is possible to take a lump sum amounting to no more than 50% of the retirement pension – with a lifelong reduction of the retirement pension (married insured persons require the officially notarized approval of the spouse / registered partner).
No. Novartis Pension Fund 2 provides cover exclusively for lump sum payments (in the event of retirement, death and disability).
You can choose between the following payment options:
- 100% lump sum payment at the time of the first pension payment
- 100% conversion into a fixed-term bridging pension until you reach the statutory (AHV/AVS) age of retirement
- Combination of the other two options.
Please note that the bridging pension must not exceed the amount of the maximum state pension. Any savings that exceed this mark are paid out with the retirement lump sum. If the savings are not sufficient for the maximum bridging pension, additional retirement assets may be withdrawn, but this then reduces the lifelong retirement pension.
A calculation of the likely retirement benefits can be requested from your contact person with the Novartis Pension Funds.
You may opt to receive the assets available at the time of your retirement as a one-off lump sum or as a temporary bridging pension until you reach the statutory (AHV/AVS) retirement age and thus optimally accommodate your needs.
The level of the bridging pension depends on retirement age, gender and the level of the assets accumulated up to the time of early retirement. The bridging pension must not exceed the maximum single state pension (AHV/AVS) applicable in each case.
The pension will be transferred twelve times a year, on the 25th of each month. Any lump sum due will be paid out within the first 30 days of the entitlement to the benefit taking effect.
No. Novartis Pension Fund 1 transfers your retirement pension every month to your personal staff current account with Novartis AG. Here you can then make your own transfer arrangements.
Yes. But you would be well advised to select a well-known and reputable banking institution. For the transfer we need the exact address of the bank with account number, the corresponding IBAN and the BIC code.