Glossary

The sum of money that is payable to an insured person on leaving the benefits scheme (also known as “portable sum”). In the case of funds with defined benefits plans, the assets on leaving correspond (since the vested benefits at came into force) to the cash value of the acquired benefits; In the case of funds with defined contributions plans, they correspond to existing retirement assets.

Blocked account with a vested benefits institution of a Swiss bank for interim preservation of pension protection if (and as long as) the person does not take up a new position with an employer in Switzerland. If the person does take up a new position, the assets must be paid into the pension fund of the new employer as a joining fee.

Vested benefits institutions (banking foundations or insurance companies) are intended to provide interim management of the vested benefits of individual employees who can neither leave their portable benefits with the old benefits scheme nor pay them into a new one (see also vested benefits account and policy).

Tied insurance policy with a Swiss life insurance company for interim preservation of pension protection if (and as long as) the person does not take up a new position with an employer in Switzerland.