Purchasing residental property

WEF

Financing residential property: What does it mean for me?

The Swiss Ordinance on the Encouragement of the Use of Vested Pension Accruals for Home Ownership (WEFV) allows you to withdraw money from your occupational pension in order to purchase residential property for your own use. You can do so by means of either early withdrawal or pledging.

What can I use my money for?
You can pledge or withdraw your money early for the following purposes:

  • Purchase and construction of residential property (sole ownership, co-       ownership, joint ownership with spouse)
  • Investments in residential property
  • Repayment of mortgage loans
  • Purchase of share certificates in cooperative housing associations

Early withdrawal cannot be used for normal upkeep of residential property or for the payment of mortgage interest.

Do I meet the conditions for own use?
Own use means that the residential property must be used by you as your residence or your normal place of residence (in Switzerland or abroad). Holiday homes cannot be financed using money from your pension fund. The same also applies to residential property in the native country of a non-Swiss national (with the exception of cross-border commuters).

How can I apply for early withdrawal or pledging?
You can apply to pledge or withdraw your money early by sending us a written request.

Which documents must I provide to the pension fund?
Along with your request for pledging or early withdrawal, you must provide us with documents that demonstrate:

  • the specific purpose for which you intend to use the money from your 
    occupational pension (purpose of use) 
  • that you are investing the money from your occupational pension in the 
    residential property used by you (own use)

How can you help me?
If you are interested in making an early withdrawal, we can generate simulations to show the impact this would have, possible insurance policies, etc. We are also happy to answer any further questions you might have.

Contact

Loredana Gallo-Rausa

Loredana Gallo-Rausa

Administrator for: responsable for all divisions exept HCI Solutions AG


Galenica Pension Fund

Untermattweg 8
Postfach
CH-3027 Bern

Phone:
+41 58 852 87 05
Fax:
+41 58 852 87 01

Contact

Regula Schlachter

Regula Schlachter

Deputy Manager Responsable for HCI Solutions AG and all questions about retirement, disability and death


Galenica Pension Fund

Untermattweg 8
P.O. Box
CH-3027 Bern

Phone:
+41 58 852 87 03
Fax:
+41 58 852 87 01

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