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Art. 10 Retirement pension

1 The insured person is entitled to receive a lifelong retirement pension from the completed age of 58, at the latest from the completed age of 70, provided that the insured member resigns all or part of the previous gainful em­ploy­ment (subject to Art. 10a). The entitlement to a retirement pension arises on the 1st day of the month following the termination of the em­ploy­ment relationship. It shall expire at the end of the month in which the pensioner dies.

If an insured person is entitled to a retirement pension at the time of termination of em­ploy­ment and has not yet reached the reference age, they may request, instead of the retirement pension, that the vested benefit be paid to the pension institution of the new employer. If they have not reached the reference age and are registered as unemployed, they can ask for the withdrawal benefit to be transferred to a vested benefits institution instead of the retirement pension.

The transfer of the vested benefit must be requested in writing to the pension fund by the end of the em­ploy­ment relationship at the latest.

2 The amount of the annual retirement pension is cal­cu­lated by multiplying the retirement savings existing at the point of retirement by the conversion rate applicable to the retirement age. The conversion rates are set out in Annex 3.
3 On retirement, the insured member may choose to take all or part of their retirement pension as a lump sum. Through payment of this lump sum, the retirement pension and other insured benefits are reduced accordingly. No other benefit entitlements are covered within the scope of the lump sum payment.
4 The insured member must notify the Pension Fund in writing of the percentage of the retirement capital requested as a lump sum at least one month before retirement. The ap­pli­ca­tion must be countersigned by the spouse. The signature must be certified.

The submitted ap­pli­ca­tion can be changed or revoked up to one month before retirement. If the original lump sum portion is changed, the spouse must countersign. The signature must be certified.

The period for a lump sum submission and a revocation may be suspended by the Pension Fund, in extraordinary circumstances.

5 If the continuation of voluntary insurance in accordance with Art. 5a of the regulations has lasted for more than two years, the pension benefits must be drawn in the form of a pension.