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Money transfers to Cuba? The OSA has been looking into the matter

20.11.2019 – Legal service

PostFinance discontinued all payments to Cuba on 1 September 2019. What does this mean for Swiss Abroad who live in Cuba and receive a Swiss pension?

The Organisation of the Swiss Abroad (OSA) contacted the Swiss Compensation Office (SCO) to ask what the impact will be and whether any measures are being taken to help pensioners living in Cuba. The SCO assured the OSA that it is following the geopolitical situation and associated impact on payment transactions closely. Fortunately, payments from the SCO to Cuba are subject to an exemption, hence old-age and survivors’ insurance (OASI) will continue to be transferred in euros to Cuba.

At the political level, member of the Council of States and OSA Vice-President Filippo Lombardi (CVP, canton of Ticino) has filed a parliamentary interpellation. Lombardi is asking whether the Federal Council intends to take action to ensure that PostFinance executes payments to Cuba – especially in regard to Swiss pensioners who live in the country. If no action is planned, Lombardi wants to know what alternatives the Federal Council has in mind to ensure that Swiss expatriates in Cuba receive their pension benefits. The interpellation has still to be considered.