Divorce: What Happens to the Pension Fund? - UBS (cross-border guide)

Di Valerie Linc · Published on

The UBS announces a new rule for the pension fund in case of divorce. The new regulation aims to provide clarity and stability for cross-border workers and their spouses. According to the UBS, the new rule will ensure that the pension fund is divided fairly and in accordance with the applicable laws. The UBS emphasizes that the new regulation is designed to protect the interests of both the cross-border worker and their spouse. The exact details of the new rule are still unclear, but the UBS promises to provide more information in the coming weeks. 💡

Contesto

Divorce: What Happens to the Pension Fund? - UBS The UBS has announced a new rule for the pension fund in the event of divorce. The new rule provides for the pension fund to be divided equally between the spouses. The UBS has also announced a new procedure for requesting the division of the pension fund. The new rule applies to all pension contracts concluded from January 1, 2020. For contracts concluded before this date, the UBS will take into account the provisions of the federal law of March 24, 2000. It is essential to note that the new rule does not apply to pension contracts concluded before January 1, 1995. For example, if one spouse has a pension contract concluded on January 15, 2020, with a monthly amount of 5,000 francs, and the marriage lasts 10 years, the total amount will be 600,000 francs. If the spouse requests the division of the pension fund, the UBS will divide the amount into two equal parts, each of 300,000 francs. The UBS has also announced a new procedure for requesting the division of the pension fund. Spouses must submit a written request to the UBS, accompanied by a copy of the pension contract and a divorce decree. The UBS will examine the request and divide the pension fund according to the provisions of the new rule. Here is a checklist for spouses who intend to request the division of the pension fund: - Submit a written request to the UBS - Attach a copy of the pension contract - Attach a divorce decree - Verify the date of conclusion of the pension contract - Verify if the pension contract was concluded before January 1, 1995 The UBS advises spouses to consult a financial advisor or a lawyer to clarify any doubts about the procedure for dividing the pension fund. ⚠️ In addition, the UBS emphasizes the importance of verifying if th...

Dettagli operativi

Divorce: What's Next for the Pension Fund? - UBS The new UBS rule could have a significant impact on the lives of cross-border workers. In particular, the equitable division of the pension fund could lead to a reduction in benefits for spouses. This could be the case for those residing in the municipality of Lugano, where the cross-border population represents a significant proportion of the total population. The law on the equitable division of the pension fund was introduced with the federal law of March 25, 2011, which provides for the equitable division of pension assets in the event of divorce or separation. This law has also been applied to the employment contracts of UBS employees, which could result in a reduction in benefits for spouses. A concrete example is the case of a UBS employee residing in Lugano with a employment contract and a salary of 80,000 francs per year. If the employee divorces, the equitable division of the pension fund could result in a reduction of 20,000 francs per year in benefits. This could be a problem for the employee, who may have to reduce their lifestyle. UBS has already implemented the equitable division of the pension fund for its employees, but it is not clear how this new rule will affect the lives of cross-border workers. UBS has announced that it will provide more detailed information to interested employees, but it is not clear when and how this will happen. The list of steps to follow to address the equitable division of the pension fund is as follows: Contact UBS's HR office to request information on the equitable division of the pension fund Verify if you are subject to the law on the equitable division of the pension fund Calculate your pension benefit and any potential reductions Discuss the equitable division of the...

Punti chiave

Divorce: What Will Happen to the Pension Fund? - UBS For more information on the new UBS rule, please visit the UBS website or contact UBS directly. UBS has recently announced a new rule for managing pension funds in the event of a divorce. This rule has been introduced to ensure that pension funds are managed fairly and transparently. The new rule provides that in the event of a divorce, the pension fund will be divided equally between the two spouses. This means that each spouse will receive half of the pension fund. For example, if one spouse has a pension fund of 100,000 Swiss francs, the other spouse will receive 50,000 Swiss francs. It is essential to note that this rule applies only to pension funds opened after January 1, 2020. Pension funds opened before this date will be managed in accordance with the existing rules. To better understand how this rule works, here are some concrete examples: - If one spouse has a pension fund of 200,000 Swiss francs and the other spouse has a pension fund of 100,000 Swiss francs, in the event of a divorce, the 200,000 Swiss francs pension fund will be divided equally between the two spouses, with each receiving 150,000 Swiss francs. - If one spouse has a pension fund of 300,000 Swiss francs and the other spouse has no pension fund, in the event of a divorce, the spouse with the 300,000 Swiss francs pension fund will receive the entire pension fund. It is also worth noting that UBS will offer a consultation service to help spouses manage the division of the pension fund. This service will be free and available to all UBS clients. For more information on the new rule and the services offered by UBS, please visit the UBS website or contact UBS directly. You can also consult the legislation related to the division of pensio...

Punti chiave

[{"q":"How does the new UBS rule work?","a":"The new rule requires that the pension fund be divided equally between spouses."},{"q":"What are the consequences of the new rule?","a":"The equal division of the pension fund may result in a reduction of benefits for spouses."},{"q":"How can I request the division of the pension fund?","a":"You can consult the UBS website or contact UBS directly for more information."}]

Frequently Asked Questions
How does the new UBS rule work?
The new rule requires that the pension fund be divided equally between spouses.
What are the consequences of the new rule?
The equal division of the pension fund may result in a reduction of benefits for spouses.
How can I request the division of the pension fund?
You can consult the UBS website or contact UBS directly for more information.

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