Swiss Pension System Pillars
In Switzerland, retirement pensions are based around a 3 Pillar concept with each Pillar providing a different level of benefit.
This is a very basic overview and it is important you obtain quality professional advice based on your specific circumstances and your timeframe for living in Switzerland.
For a free 1 hour without obligation consultation with a Swiss Pension specialist please ring our swiss office on +41 (0) 43 818 7030 to arrange a mutually convenient appointment.
This is the basic state pension and is mandatory and covers the basic old age pension, disability benefit and unemployment benefits. It is very basic and will not support you fully in retirement.
Occupational pension plans which are mandatory for all employees. The pension is designed to maintain an average living standard on retirement but this is subject to how many years you have lived/intend to live in Switzerland and where you plan to retire.
Private pension provision for long term savings which is split into 2 options 3a & 3b:
3a-contributions are tax deductible up to a maximum of 6,826 CHF (employed) or 20% of net earned income max 34128 CHF (self- employed) but access is restricted pre- retirement.
3b– unrestricted contributions are allowed and, in most circumstances, capital is available anytime.
There are various products available via the Pillar 3 and it is essential quality professional advice is sought to ensure the most appropriate product is adopted for your specific circumstances
If you are leaving Switzerland or planning to leave in the next 12 months and it is essential, you obtain quality professional advice regarding the implications for each part of your Swiss retirement pension based on your specific circumstances and where you are relocating to.
For a free 1 hour without obligation consultation with a Swiss Pension specialist please ring our swiss office on +41 (0) 43 818 7030 to arrange a mutually convenient appointment,