At any time up to three years before becoming entitled to draw retirement benefits, the employee may pledge his entitlement to occupational benefits or an amount up to the limit of his transferable benefits for the purpose of acquiring a property for his own personal use.
The pledge is also permitted for the purpose of acquiring shares in a housing cooperative or similar participatory venture provided a residential unit jointly financed in this manner is for the employee’s own personal use.
The pledge is valid only if notified in writing to the benefits scheme.
The amount pledged by employees aged 50 or older must not exceed the transferable benefit entitlement they would have had at 50 or one-half of their transferable benefit entitlement at the time the pledge is given.
The Federal Council determines:
the purposes for which the pledge is permissible and the definition of ‘own personal use’;
the conditions to be fulfilled for the pledging of entitlements to acquire shares in a housing cooperative or similar participatory venture.