The Pillar3a is an optional pension that you can pay into to help bridge the gap for a pension shortfall so that you have more money to rely on in retirement. The monies will be paid out at the age of retirement or in case of death. Third pillar accounts are not only intended to save up for retirement; they also offer many tax advantages.
Payments into a Pillar 3a account may be deducted from taxes. The maximum legal payment for 2015 was 6,768 francs. Self-employed persons without a pension scheme may pay in 20 per cent of their net income, up to a maximum of 33,696 francs.
The tax deductions you receive do vary from Canton to Canton, and it is worth getting in touch with one of our specialists so that we can provide a personal quotation for you.
You can access your monies from the Pillar3a when;
The insured person can appoint one or several beneficiaries and define their entitlement in detail.
When purchasing a property in Switzerland you need a 20% deposit. Only 10% needs to be in cash form. You can use your Pillar3a as the other 10%, as a pledge towards the property you are purchasing.
Get in touch with us to discuss with one of our wealth managers