Home ownership opportunities
As the acquisition of a home is considered to be a form of pension provision, any insured person may use his pension assets to acquire a property or to repay a mortgage. The insured person may benefit from this measures in two ways: early payment and pledge. It should be noted that the financed home must be his main residence. Early paymentIt is a cash payment, which will lead to a reduction in the old-age benefits and, possibly, the disability and death benefits if the insured person fails to make subsequent repayments.
The minimum amount of an advance payment is CHF 20,000. The application must be made in writing to the Patrimonia Foundation and the spouse must give his/her consent in writing. Pledge
This involve pledging, with a creditor, the right to all future pension benefits or a maximum amount of the vested benefit. The pledge does not reduce the pension, disability and death benefits and increases the sum that you may borrow to finance your home. It also offers a tax benefit since the amount pledged is not taxed. Moreover, as the amount pledged is considered to be foreign funds, it is possible to deduct the higher mortgage interest from the taxable income.
A form as well as an explanatory note are available to you to assist with completing these procedures.
Questions about your entitlement to benefits?
At Patrimonia, we listen to you and endeavour to provide precise answers to the questions you ask. On this site we answer a series of questions that we are frequently asked by insured persons. Do not hesitate to get in touch with us if you are unable to find the information that you are looking for. Please note that you can find a full explanation of your pension certificate on this site.Access the page Frequently asked questions (insured persons)
The application is possible until three years at the latest before the start of the entitlement to the pension benefits.
Up to 50 years of age, the total leaving benefit. After this age, the maximum amount is equivalent to the leaving benefit accrued at 50 years of age or to half of the leaving benefit accrued on the payment date, whichever is higher.
Although the LOB and its ordinances do not provide for the possibility of financing work by means of an advance payment of the leaving benefit, the Patrimonia Foundation allows the insured person to obtain such an advance payment in certain cases in order to carry out essential work which will add value to the property.
All routine maintenance work (painting, tiling, etc.) or outdoor facilities (fencing, swimming pool, garage, etc.) are excluded. It is advisable to contact us to find out whether the planned work is admissible.
It is advisable to contact us by completing the appropriate form, stating the amount requested as well as the desired payment date. Please note, it is advisable to act at least 1 to 2 months beforehand. In the event of failure to adhere to these deadlines, the successful outcome of these procedures and the advance payment cannot be guaranteed.
The payment you have received may be reimbursed by one or more payments, the minimum amount of the reimbursement is CHF 10,000.00 per payment.
You simply have to make the requested payment to the Foundation’s account by indicating your surname and first name and stating EHO repayment in the comments box on the payment page.
Up to three years at the latest before the age of retirement. In the event of partial disability, only part of the advance payment may be reimbursed.