Maximizing Supplementary Benefits From Swiss Social Security As a Pensioner

Hello,

I understand that pensioners who live in Switzerland and receive a Swiss pension are entitled to supplementary benefits on top of their pension if the pension which they receive does not cover their living expenses.

Throughout my life I have carefully saved and have a decent amount of savings because I would like to leave my daughter an inheritance. But because I have not worked in Switzerland that much, my pension will be ridiculously low. With my low income I would definitely be entitled to supplementary benefits.

Will the fact that I have savings prevent my being approved for supplementary benefits? Is it better for me to gift the money to my daughter now before I retire so that I have no savings when retire so that I apply for supplementary benefits?

Thanks for your advice

Hi there,

Cantonal social security offices typically require you to provide information regarding gifts made. In most cases, historical statements and/or tax information dating back several years prior to your application for supplemental benefits are assessed to determine whether you gifted assets in order to reduce your wealth and thus become eligible. How far back the office will look depends on the policies of the relevant social security office and on your financial history and situation. However, it is fair to say that gifting large amounts of money to heirs or friends - especially shortly before applying for supplementary benefits - will generally be considered unacceptable or even as an attempt to defraud the social security office and could greatly lower your chances of being approved for supplementary benefits.

Best regards from Moneyguru