Forgotten billions

Forgotten billions


In switzerland every year insurance pension funds lose contact with thousands of customers, half of whom are foreigners. As a result of the huge accumulation deprived legitimate owners. Social services are trying to actively seek their clients, but with foreign nationals it is extremely difficult. However, according to the rules, even the accumulation of “missing many years ago” should be kept in special accounts, which has accumulated more than 4 billion euros.

Many clients of insurance pension funds change jobs or leave the country just disappear without telling anything about his new location. It is very often the accounts they are very solid accumulation.

Results are disappointing: Swiss pension and insurance funds currently have a total of 5 billion francs (4.07 billion euros), the owners of which can not be found.

According to the rules, changing any place of employment, family status or country of residence, the person insured in the pension funds, must inform the policyholder.

The fact that the previous insurance scheme owes all the accumulated money transferred to another social insurance office at the new place of residence (work) of the insured. If the insured person does not find a new job yet, or the policyholder is not on this account any information, then the appropriate amount of money transferred to the special “account lockout.”

It is usually part of a special social fund Auffangeinrichtung BVG, established jointly by unions and employers. Funds in the account and stay up until either the insured person does not show up and do not provide all necessary personal data, or until the person reaches retirement age.

Paradoxically, the fact is that very often people just do not assert their rights with respect to their own pension savings, whether through ignorance, or forgetfulness. And very often insurance companies, despite all their efforts to find the rightful owners of the money and you can not.

For example, only fund Auffangeinrichtung BVG lost contact with the owners of nearly 600,000 pension insurance accounts for a total of 2.5 billion francs (about 2 billion euros). Half of the owners of these accounts – foreign nationals. According to reports, about the same amount of “sleep” in bank accounts and general insurance companies.

“We can provide you with financial data on each of the” disappeared “insured person, literally down to the last penny. The only problem is that we are not aware of any of these persons address or bank details. And because we just do not know where and to whom to transfer “forgotten” accumulation “, – says the fund manager Auffangeinrichtung BVG Max Meili.

The most common scenario in which the insured person ceases to operate automatically and losing contact with their pension funds. In this case, the policyholder is legally obligated to figure out how the amount of savings due to the person and place (address) where the funds should be translated.

However, in practice very often the information that the person has left the firm or left his former job, comes to pension insurance fund too late.

Their share of the blame are themselves insured. They often somehow “forget” about his own retirement and do not respond to pension insurance funds. In this case the money is not going away. Just after two years of waiting accumulation transferred to the accounts of such funds as the aforementioned fund Auffangeinrichtung BVG. However, insured themselves about this just do not know.

“Many problems could be avoided, for example by offering employee severance fill a special form, which would contain all the necessary information for the insured,” – says a leading specialist organizations Unification wage earners «Travail.Suisse» Matthias Kurth Killer.

Foreigners are more likely to forget about their pension insurance, in particular through the Swiss compulsory state insurance for old age and disability.

In many ways, the reason for this situation is the difference of character types and the normal retirement insurance options which are regulated by the Law “On pension insurance, old-age and disability of persons with permanent employment» (BVG), and insurance through AHV («Insurance-age and disability “).

In the first case a person accumulates its own, “name” pension capital, the AHV pension system do not have individual character. They are very small, but the payments system AHV automatically rely everyone, even a foreigner, who has worked in Switzerland a certain date. And often of such automatism not have information, primarily, that foreign nationals.

Switzerland has concluded with 40 European countries, special arrangements under which it is possible to cross-border cooperation of the social security and pension insurance and security in different countries. And if we have a country with an appropriate agreement, the person will necessarily receive the money belonging to the place of treatment, “- said the head of the Department of Information and Communications in Switzerland” Social Security Office “Rolf Camenzind.

This situation also leads to another problem, and: in the case of death of the person to pay the premiums in Switzerland under the AHV, his widow and remaining children often do not have a clue that in Switzerland they have some accumulation.

In the area of ​​pension insurance through BVG situation in this sense, looks a little better. Here, in order to maintain operational contacts between insurance funds and insured persons created “Coordination Office.” The duties of the “Bureau” also includes the restoration of broken contacts between insurance funds and their clients.

It was created at the time by the Swiss Federal Government in response to urgent requests of Italy, Spain and Portugal. “Bureau” regularly and is actively seeking overseas people to forget about their pension savings in Switzerland, but it boasts much success can not yet.

“In most of the Confederation, we almost always find those who are owed pensions, but who now, for various reasons, has not presented its rights to payments, – the director of” Coordination Office “Daniel Duerr. – But left abroad harder to find, if not impossible, if, after leaving Switzerland, insured not come back to his homeland, choosing any third country, or if, on returning home, they are not registered in their bodies again social care and support. “

Therefore, according to him, can only wait and hope that the persons entitled to pension benefits will manifest themselves, taking into account the fact that the money will be waiting for his master until the moment when he was 100 years old. “However, we do not strive to be quite so bureaucrats, and we will pay every last centime, even if the person who applied to us, already exchange the second hundred years”, – assured Duerr.