The encouragement of home ownership system is designed to allow members of occupational benefit institutions to use their pension assets to finance the acquisition of a residential property for their own use.

The Federal Social Insurance Office (BSV) was recently asked to examine whether the investment in a heat pump system with a borehole could be financed by a withdrawal of 2nd pillar assets.

The use of pension assets for the encouragement of home ownership is not restricted to financing the acquisition of a home; pension assets may also be used for appropriate home renovation and conversion works designed to maintain the living quality and value of the home.

To qualify for a withdrawal of pension assets, the property to be financed must primarily serve as the member’s home.This applies to suitable properties intended for use as long-term accommodation. Accommodation that is not heated is not suitable for year-round use. According to the BSV, pension assets may therefore be used to finance a heat pump system with a borehole, and the withdrawal is admissible. Not just for the heat pump system itself, but also for boring the hole since this heating system consists of both elements.

Liberty checks all withdrawal applications individually to ensure that the documentation is complete and gladly provides applicants with additional information.