Swiss P3 Pension FAQs
Choosing the right Pillar 3 pension, or indeed getting to grips with the complexities of the Swiss Pillar pension system, can seem daunting. To help, we’ve pulled together questions we are asked about Pillar 3. We hope this helps you understand the key elements and considerations within the system but if your question isn’t answered, …
No changes to Pillar 3a allowance for 2020
The maximum contribution you will be able to make into your Swiss Pillar 3a pension in 2020 is CHF 6,826. The allowance, for next year, remains unchanged from the 2019 value. There are two maximum fund amount limits applicable for the Pillar 3a: Employees can fund their Pillar 3a to a capped amount of CHF …
Banking options for expats in Switzerland
If you’ve recently moved to Switzerland, you’ll probably want to open a Swiss bank account. Initially, the Swiss banking system can feel confusing and overwhelming. However, there are also commonalities with day-to-day global banking practices. We will help you navigate your way through a banking system that is historically synonymous with protecting customer identity, assets …
Living in Switzerland with a 401k
The 401k is an incredible investment vehicle when you are living and working in the USA. However, it can be complicated to convert or re-invest when you live in Switzerland. Many expats chose to leave their 401k as it is and are often unaware that there are other investment options available to them. There can …
Are you an accidental American?
The American government is stepping up their game when it comes to finding Americans with undeclared foreign assets. In 2014 Boris Johnson learnt that he was a US citizen after being chased for taxes after selling his home. This situation is far more common than you might think. How you could be one of the …
Navigating the Swiss Pillar 3a and a Pillar 3b system
The OECD called Switzerland’s multi-pillar pension system a “Triumph of Common Sense”, and we can certainly see why. With diversification at its heart, the Swiss pension scheme embraces best practices deriving from the oft-quoted concept of ‘not putting all your eggs in one basket‘. What is the Swiss pension scheme? In a nutshell, the Swiss …
The Swiss Pillar Pension system in 30s
New to Switzerland? Wondering what the Swiss pillar pension system is all about? We’ve got you covered. Here is a simple 30-second explanation of the Swiss 3 pillar pension system Pillar 1 is the mandatory state pensions. The Swiss Government is responsible for this and it is designed to take care of your most basic …
A quick guide to understanding the key benefits of pillar 3
What is a Pillar 3 pension? In a nutshell, the Swiss pensions system has three pillars: Pillar 1: Swiss State Pension. Mandatory. Meant to provide individual and survivors pensions to cover basic needs following retirement. Pillar 2: Occupational Pensions. Compulsory for all employed individuals. Funded by employer and employee contributions. Intended to provide a ‘comfortable’ …
Have you got the right pillar three?
Many people come to realise that the pensions they will receive from Pillar 1 and 2 pensions (State and occupational pensions respectively) may be insufficient to maintain or finance the lifestyle they want in retirement. As a result, the subject of the importance of investing in Pillar 3 pensions is becoming a hot topic in …