Glossary
Home ownership promotion scheme (Encouragement à la propriété du logement, EPL)
A Swiss legal scheme that allows pension assets to be used to acquire a home for the insured person's own use. It covers the purchase or construction of a home, the repayment of a mortgage debt, the acquisition of shares in a housing cooperative and, in certain cases, works that increase the value of the property.
Two mechanisms are available: early withdrawal, which releases the capital and triggers separate taxation, and pledging, which leaves the assets invested while providing them to the bank as security. The second and third pillars follow distinct rules on the minimum amount, the frequency of applications, the restriction after age 50 and the repayment obligation in the event of a sale. Owner occupation remains the condition common to both: a property intended for letting is not eligible for the scheme.