Are Swiss pension savings transferred automatically?

I worked at a number of different jobs in the past, and also took time off in between. Now my dad told me that if I didn't ask each of my bosses to transfer my pension savings to the next company, then the money may still be sitting all over the place. I always though the pension money is transferred automaticall when I get a new job. What is the deal?

Hi there,

As a general rule, you need to ask your previous pension fund to transfer your pension savings to your new pension fund when you change employers. When you leave an employer and become unemployed, you need to ask your former employer's pension fund to transfer your pension savings to a vested benefits account.

If you do not claim your pension savings and have them transferred within 2 years of changing or leaving employers, the money is transferred to the Substitute Occupational Benefit Institution. This institution then tries to contact you.

If you have failed to transfer your pension savings properly in the past, contact the 2nd Pillar Central Office for help in reclaiming your pension savings.

Best regards from Moneyguru

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