Many free-lance language professionals start to think about retirement too late in their careers, subscribe to schemes that do not suit their needs, or set aside too little to ensure a reasonable income after retirement.
Why choose the CPIT?
Because the CPIT offers excellent benefits, in particular especially attractive, individualized capital-to-income conversion rates.
Because the CPIT offers you a degree of flexibility that is particularly suited free-lance work. You decide for yourself how much you want to pay in and at what age you want to retire.
Because the CPIT is governed by Swiss occupational pension legislation (swiss 2e pilier) but is open to people of all nationalities, no matter where they live and work, and because it is also recognized by both the United Nations system and the European and coordinated organizations.
Because the CPIT is managed by colleagues, absolutely openly, with no red tape and no intermediaries. You can be sure that any profits the Fund makes are returned to the members in the form of interest paid on individual accounts and replenishment of the statutory reserves.
Because, contrary to what happens with an investment fund, only the interest paid on your accrued savings – and not the savings themselves – are affected by year-to-year market volatility.
Members under the age of 30 are totally exempted from the obligation to pay in the annual minimum amount for a period up to 2 years. Furthermore, members joining after the age of 20 are entitled to buy back benefits to make up for "lost" years of membership.
The CPIT offers you :
Pension benefits, in the form of either a monthly allowance for life or a lump-sum, or a combination of the two. The normal retirement age is 65 for men and women alike, but you can opt for retirement from the age of 60 onwards or postpone retirement until the age of 70; it is also possible to take partial retirement and to continue working and contributing;
Insurance cover in the event of disability following sickness or accident, with the payment of a disability benefit; in addition, the Fund continues to pay the contributions of disabled members until their retirement;
In the event of death before retirement, payment of accumulated capital to beneficiaries;
In the event of death after retirement, a widow's or widower's pension for the surviving spouse, depending on the rate of reversion chosen on retirement.
The fund's portfolio is managed by two specialized Swiss institutions (Pictet Asset Management and IST), under the supervision of the Foundation Council. Holdings are diversified, and investment policy is subject to Swiss rules governing pension funds, which aim to guarantee sound long-term management.
Each year, active members are sent a personal statement, which shows the amount of capital accrued on their account, amounts paid in, benefits acquired to date and potential benefits that can still be acquired. All members (active and retired) also receive an annual report on the Fund’s financial situation.