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 …
Key considerations for later life planning
The good news is, we’re all living longer and, as a result, we can look forward to longer retirements. The bad news is we have to be able to fund a longer retirement. Most people generally don’t give this enough thought, and many will likely run out of money well before they run out of …
Should I transfer my pension as an expat?
Expats often ask us whether they should transfer their pensions from their current UK schemes to an international scheme with a potentially more advantageous structure, like a Qualified Recognised Overseas Pension Scheme (QROPS) or Self Invested Personal Pension Scheme (SIPPS). When we talk to them we also hear a fair amount of confusion about what …
Have you asked your financial adviser these questions about your pension transfer?
We should start by saying that transferring your personal pension(s) from where they are currently held is not right for everyone, or for every pension scheme. When we investigate this for you, we provide unbiased, fact-based, recommendations, and will only ever recommend a transfer if it is viable and feasible to do so and represents …
How much should you save for retirement?
When it comes to planning for retirement or, indeed, for life, there’s no one-size-fits-all approach, but in 1994, William Bengen postulated a rule of thumb which has, for the most part, stood the test of time. This calculation can help you work out how much you need to save for retirement. How much will I …
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 …
5 reasons to get a documented financial plan
We are not the only financial advisers who commend the benefits of having a documented financial plan. A quick Google on the importance of goals and their importance to success demonstrates why financial advisers are keen to help clients establish a documented financial plan. Despite popular belief, it is not because we love paperwork! It is …
SIPPS, QROPS and QNUPS in a nutshell
The Pensions arena, with its ever-shifting legislative landscape, seems to be prolific in giving birth to seemingly incomprehensible acronyms; in fact, it probably wouldn’t be wrong to say that Pensions, as a subject area, suffers from TMA. As an Expat, it’s hard enough just to navigate the continually changing pensions terrain, let alone try to …