The new Art. 82 para. 4 of the Federal Law on Occupational Retirement, Survivors’ and Disability Pension Plans (BVG) came into force on 1 January 2023, according to which pillar 3a pension assets – both those held with insurance institutions and bank foundations – will be treated equally in future. Accordingly, it is now clear that both types of assets are not included in the estate.
This means that the beneficiaries of a recognised form of pension provision have their own entitlement to the benefits allocated to them. The insurance institution or bank foundation pays these out to the beneficiaries directly and independently of the division of the estate.
Payment to the beneficiaries does not require the consent of the heirs. However, Pillar 3a assets remain relevant for calculating the compulsory portions of the heirs. To this end, the new Art. 476 of the Swiss Civil Code came into force on 1 January 2023, which explicitly states that insurance claims are added to the deceased’s assets at their surrender value at the time of death. However, this only refers to a mathematical addition with regard to the calculation of any compulsory portions, which is why such claims are not subject to reduction.
With the enactment of Art. 82 para. 4 BVG, a legal situation based solely on judge-made law has been conclusively clarified by law.
If you have any questions or concerns in the area of inheritance law, our lawyers will be happy to assist you.