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The pension fund

What is a pension fund? Find the definition in the following section.

The pension fund is an institution that provides occupational retirement provision. In the three-pillar system, it is a part of the second pillar, employee benefits insurance. Fundamentally, once you turn 25 and are employed, a monthly contribution will be deducted from your income to establish your retirement assets. A withdrawal is typically possible in the case of emigration, to purchase residential property, if you wish to be self-employed, or want to retire early.

Further terms concerning the subject of retirement provision are explained in the glossary.