The parliamentary initiative filed by National Councillor Roland Fischer (Green-Liberal, Canton Lucerne) sought to achieve "fair taxation of vested termination benefits cashed in on leaving Switzerland for a country outside the EU/EFTA" by requiring lump-sum disbursements to be taxed at the member's last place of residence in Switzerland and not at the domicile of the occupational benefits institution as is currently the case.

After first being accepted by the National Council, the Council of States rejected the initiative by a majority on 16 September 2015.

The implementation of this initiative would have had serious consequences in Switzerland. In addition to a tax loss for the whole country, the introduction of a new tax system would have involved considerable administrative expense for the tax authorities and occupational benefit institutions (including AHV/AVS and SUVA). Moreover, the initiative, had it been accepted, would have represented a massive slash into the fiscal sovereignty of the cantons.

Therefore, for clients wishing to cash in pension assets held with Liberty, there is no change in current practice.