A vested benefits account is an account into which vested pension capital can be transferred (only in the case of occupational or second pillar pensions). Vested benefits accounts differ from normal savings accounts in that they offer a preferential interest rate. Anyone who leaves a pension fund without joining a new one is obliged to preserve their pension entitlements by transferring their pension assets to a vested benefits institution. The preservation of occupational pension entitlements is a statutory requirement. A vested benefits account may need to be opened in a number of different situations, for example:

• due to a career break (as a result of time spent abroad, further training or unemployment, etc.) when the future employer is as yet unknown;
• in connection with a temporary departure from the workforce; this system guarantees that your occupational pension entitlements will be preserved until you resume work.