Beneficiaries

What happens to your capital if you die before you retire?

• Savings capital

  Open

  If you should die before retirement and before retirement age, your savings capital will be used to finance survivor’s pensions (spouse’s pension/orphan’s pension and, under certain circumstances, a partner’s pension). The spouse’s pension can also be drawn as a lump sum. A corresponding application must be submitted to the Foundation before the first pension payment.

  In the absence of a spouse, life partner (same or opposite sex) or any orphans, the savings capital will be converted into death benefit capital.

• Death benefit capital

  Open

  There are three types of death benefit capital that may become due for payment:

  Surplus from savings capital

  If the capital necessary to finance the survivor’s pension is less than the savings capital available, the difference plus the survivor’s benefit will be paid out as death benefit capital.

  Death benefit capital from personal purchases

  Documented personal purchases will be paid out to surviving beneficiaries as death benefit capital. The same applies to any pension benefit that is due at the time of death. This benefit is not shown on the pension certificate.

  Additional death benefit capital

  The amount and eligibility criteria are defined in the occupational benefits plan.

• Partner’s pension

  Open

  If you are in a life partnership, under certain conditions, your partner (same or opposite sex) may be entitled to a partner’s pension equal to the insured spouse’s pension if

  • you and your partner are not married (to each other or to a third party) and if there are no impediments to marriage;

  • you and your partner are not in a civil partnership (with each other or with a third party);

  • your partner does not receive a widow’s pension, widower’s pension or partner’s pension from a 2^nd pillar employee benefits institution;

  and you and your partner

  • are proven to have cohabited in a shared household for at least five years immediately prior to your death; or

  • at the time of death lived in the same household, had a cohabiting relationship and provided support for one or more joint children who are entitled to an orphan’s pension according to the regulations.

  Procedure

  • The life partnership must have been established before retirement and before retirement age has been reached.

  • You can designate your life partner using the “Entitlement to a partner’s pension” form. However, the above-mentioned conditions must be met at the time of death.

  • Your life partner must submit their claim to a partner’s pension to the Foundation in writing within three months of your death.

• Entitlement to death benefit capital

  Open

  The following individuals are entitled to death benefit capital, in the following order of priority:

  a) Spouse/civil partner

  b) Natural persons who received substantial support from the member or the person who had cohabited with the member in a shared household without interruption for the five years leading up to the death of the member or who was cohabiting in a shared household at the time of death and is responsible for the support of one or more joint children who are entitled to an orphan’s pension according to the regulations

  c) The children or foster children and stepchildren of the deceased, in their absence the parents, in their absence the siblings

  d) Any other legal heirs, to the exclusion of the community

  Category b)

  For this group, the “Beneficiaries of lump-sum death benefit” form must be submitted to the Foundation during the insured person’s lifetime; otherwise, the beneficiaries in category c), or in their absence, category d), will receive the death benefit capital.

  Category c)

  You can change the order of the beneficiaries or combine them entirely or partially in groups. You can also inform the Foundation in writing before reaching retirement age which persons within a group of beneficiaries are to be given priority and what proportion of the death benefit capital they are entitled to. In the absence of any such declaration, the death benefit capital will be divided equally. To change the order of beneficiaries, you must submit the “Lump-sum death benefit – change of order of beneficiaries”  form during your lifetime.