It is possible to withdraw funds from the vested benefits account for the purchase of residential property. By law, a note must be entered in the land register, the so-called 'restriction on sale'.
This means that the acquired property can only be sold before reaching the normal AHV retirement age if the restriction on sale is deleted by the pension fund.
The deletion will be carried out on request in the following cases:
- From 5 years before the ordinary AHV retirement age.
- In the event of repayment of the pension assets withdrawn in advance.
- In the event of an irrevocable promise to pay, if repayment is not possible before the sale.
- When transferring to a new property that serves as the new main residence.
If the advance withdrawal was not made from the Tellco Vested Benefits Foundation, the Foundation requires details of the ownership structure, the land register page, the municipality and the amount (e.g. by means of a copy of the restriction on sale) for the deletion.