Your partner for tied pension provision

Pillar 3a is the tied private pension scheme in Switzerland. It is available to people who earn an income subject to AHV contributions. With a Pillar 3a account, you can build up assets specifically for your retirement whilst benefiting from tax advantages.

With the HBL 3a Pension Foundation, you can open your Pillar 3a account easily, securely and entirely online. You can then choose the pension solution that best suits your needs – from a traditional account-based solution to a securities-based solution featuring the “Aare strategies”. 

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Opening an account digitally saves time and allows you to set up and manage your pension plan conveniently online. Part-time workers and the self-employed can also benefit from a Pillar 3a account, provided the legal requirements are met.

If you are a member of a pension fund, you may pay in the maximum amount set by law each year. If you are not a member of a pension fund, you can pay in up to 20 per cent of your income subject to AHV contributions – up to the maximum amount set by law.

The federal government publishes the applicable maximum amounts each year. 

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Regular contributions help you build up pension capital in the long term whilst saving on tax.

Pillar 3a is one of the most tax-efficient pension solutions in Switzerland. You can deduct your contributions from your taxable income up to the statutory maximum amount.

During the term of the scheme, you also benefit from tax advantages on the returns. It is only upon withdrawal that the pension savings are taxed separately at a reduced tax rate. 

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Depending on your income and canton of residence, the tax savings can be substantial.

By making regular contributions, you not only build up your pension capital over the long term, but also make the most of the annual tax deduction. Those who contribute the maximum permitted amount generally make full use of the tax benefit. 

Planning your contributions well in advance helps you to build up your pension systematically.

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The contribution must be credited to your Pillar 3a account within the statutory deadline in order to be taken into account for the relevant tax year.

As a general rule, funds from Pillar 3a may be withdrawn no earlier than five years before reaching the standard reference age. In certain cases, the law permits early withdrawal, for example to purchase a home for personal use, when starting self-employment, or when moving permanently away from Switzerland. 

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Check the tax implications of a withdrawal well in advance. Good planning can pay off financially.

If you spread your pension capital across several Pillar 3a accounts, you can often stagger the withdrawals over several years. As capital withdrawals are taxed progressively in many cantons, this may help to reduce your tax burden. 

Early planning is crucial, as it is not possible to split an existing account retrospectively.

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Having several accounts can be particularly useful if you have a larger pension portfolio.

Pillar 3a forms part of restricted private pension provision and is primarily intended for retirement provision. Contributions are tax-deductible, but withdrawals are only permitted under certain conditions. 

Pillar 3b covers non-restricted private pension provision. This includes, for example, savings, securities or other assets. The money is generally available at any time, but there are fewer tax advantages.

Which option makes sense depends on your personal goals, your financial situation and your pension needs.

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Pillar 3a and Pillar 3b complement each other and can be usefully combined.

Whilst an account-based solution focuses on security and stability, a securities-based solution offers additional opportunities for returns. Particularly with a long-term investment horizon, securities can help to grow your pension assets over the years. 

The HBL Foundations offer both account-based and securities-based solutions. This allows you to choose the pension solution that best suits your personal needs. 

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Securities are subject to market fluctuations. However, over the long term, the financial markets have historically achieved higher returns than simple savings accounts. Past performance is no guarantee of future results.

Not every investment strategy is suitable for everyone. Various factors play a role in your choice – for example, your investment horizon, your financial situation and your personal risk tolerance. 

The HBL Foundation offers a range of securities solutions so that you can choose an investment strategy that suits your individual needs. 

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If your life circumstances change, it may be worth reviewing your investment strategy.

With a securities solution, you invest your pension savings across various asset classes. This allows you to benefit from developments in the financial markets over the long term. 

The HBL Foundations offer a range of investment solutions designed to cater for different needs and investment profiles. 

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Broad diversification reduces the risk associated with individual investments but cannot completely rule out fluctuations in value.

ETFs invest in a wide range of securities, thereby enabling broad diversification. They are regarded as cost-effective and transparent investment instruments and are frequently used for long-term investment strategies. 

Depending on the chosen investment solution, ETFs may form part of the investment strategy. 

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ETFs are passively managed and therefore often incur lower costs than many actively managed investment funds.

You benefit from tax advantages whilst the pension plan is in force. It is only upon withdrawal that your pension capital is taxed separately from your other income. The amount of tax depends, amongst other things, on your canton of residence and the amount of capital withdrawn. 

Planning ahead helps you to gain a better overview of your pension situation and to take tax implications into account in good time.

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The tax on capital withdrawals varies from canton to canton. Make sure you find out in good time about the regulations that apply to you.

In many cantons, capital withdrawals are taxed on a progressive basis. This means that the higher the amount withdrawn in the same tax year, the higher the tax burden may be. 

If you split your pension savings into several vested benefits accounts at an early stage, you can spread the withdrawals – within the limits of the law – across different tax years. 

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In principle, a split is only possible before the entire pension savings have been transferred to a vested benefits foundation.

When you withdraw your pension capital depends, amongst other things, on your retirement date, your canton of residence and any other pension savings you hold. 

If you plan your withdrawal well in advance, you can better coordinate your various pension benefits and make the best possible preparations for your retirement. 

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Ideally, plan larger lump-sum withdrawals several years in advance.

Lump-sum withdrawals from Pillar 3a, vested benefits and, in some cases, from the pension fund are taken into account for tax purposes depending on cantonal regulations. 

If you do not withdraw different pension funds in the same tax year, you may be able to reduce your tax burden.

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Tax implications vary from canton to canton. It is therefore particularly worthwhile to plan well in advance.

By spreading your pension savings across several accounts, you create more flexibility for the future. This allows you to plan your capital withdrawals more effectively and – depending on your situation – to take them in stages. 

Whether splitting your assets makes sense depends on your personal pension situation and the amount of your pension capital.

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It is generally not possible to split an existing pension account retrospectively. You should therefore plan well in advance.

Pillar 3a and vested benefits can, in principle, be withdrawn in the same year. As lump-sum withdrawals are treated jointly for tax purposes in many cantons, this may result in a higher tax burden.

Planning well in advance helps to ensure that your income streams are optimally coordinated. 

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Seek advice before making any major lump-sum withdrawals. Even small adjustments to the timing of withdrawals can have tax implications.

If you decide to take early retirement, your income and pension situation will change. Depending on your pension fund and your balances from vested benefits and Pillar 3a, there are various options for taking a lump-sum payment.

Planning ahead helps you to avoid gaps in your pension provision and to better take tax implications into account.

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Ideally, you should start planning for early retirement several years in advance. This will ensure the best possible conditions for a successful transition into retirement.

The HBL 3a Pension Foundation manages your pension savings in accordance with statutory provisions. You decide whether you wish to hold your savings in a vested benefits account or a Pillar 3a account, or invest them in a securities solution.

With investment solutions, your pension assets are held as a separate fund. This ensures that your assets remain separate from those of the participating institutions (e.g. even in the event of bankruptcy). At the same time, you benefit from professional management and a transparent pension solution.

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Which solution suits you best depends on your investment horizon, your risk appetite and your personal pension goals.

The HBL Foundations ensure the careful management of your pension savings. If you opt for an account-based solution, your savings will earn interest. If you choose a securities-based solution, your investments will be managed in accordance with your chosen investment strategy.

You will receive regular updates on your pension savings and can track their performance at any time.

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You can review your pension solution at any time and – within the limits of the law and the regulations – adapt it to your needs.

Vested benefits and pension foundations in Switzerland are supervised by the relevant cantonal supervisory authorities. They are also audited by independent auditors.

These checks ensure that legal requirements are met and that pension funds are managed carefully.

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Statutory supervision makes a significant contribution to the security and transparency of the Swiss pension system.

The HBL Foundations support you in various life situations with modern pension solutions. For vested benefits and Pillar 3a, you can choose from both traditional account-based solutions and investment solutions based on the “Aare strategies”, which have proven their worth against the competition for more than 10 years.

Opening an account is simple and convenient – you can do it digitally. This allows you to tailor your pension provision flexibly to suit your personal needs.

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You decide for yourself whether you wish to keep your pension savings safely in an account or invest them in securities for the long term.

The HBL Foundations support you through various stages of life – from changing jobs to private pension provision and right through to retirement. As well as a simple digital account opening process, you benefit from personalised advice, transparent management of your pension savings and the choice between account-based and investment solutions.

Our aim is to offer you a clear and long-term pension solution tailored to your personal needs.

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A good pension solution supports you throughout your life. That’s why it’s worth choosing a partner that combines security, flexibility and personalised support.

Funds from Pillar 3a and – depending on your situation – from vested benefits can be used for owner-occupied property, subject to the statutory requirements. This can be used, for example, for the purchase, construction or repayment of a mortgage on a property you live in yourself.

However, before making an early withdrawal, you should check what impact this will have on your retirement provision. The HBL Foundations will be happy to advise you on the requirements and the procedure.

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An early withdrawal reduces your pension savings. You should therefore check at an early stage which solution best suits your personal situation.

Anyone who takes up self-employment and is no longer subject to the compulsory occupational pension scheme may withdraw their vested benefits or Pillar 3a savings subject to the statutory requirements. Whether a withdrawal is advisable depends on your personal pension planning.

The HBL Foundations will be happy to assist you in clarifying the requirements and the necessary documentation.

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A lump-sum withdrawal should be carefully considered, as it will affect your retirement provision in the long term.

If you are moving permanently out of Switzerland, different legal regulations apply – in particular depending on whether you are moving to an EU/EFTA country or to another country.

The HBL Foundations will provide you with information on the legal requirements, the procedure and the necessary documents.

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Moving abroad can have tax and pension-related consequences. You should therefore seek advice in good time.

The pension savings are paid out in accordance with the statutory provisions and the regulations of the relevant HBL Foundation. Depending on your personal circumstances, spouses, registered partners, children or other legally entitled beneficiaries may be eligible to receive the payment.

The HBL Foundations assist the surviving dependants with the settlement of the estate and support them with the necessary formalities.

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Check your beneficiary arrangements regularly and find out about the options available under the law.

Whether you’re opening an account, setting up a securities solution, transferring your pension savings or taking a lump-sum withdrawal – the staff at the HBL Foundations will provide you with expert and personalised support.

You can contact the HBL Foundations by telephone, email or via the website. We’ll be happy to help with any questions you may have about your pension provision.

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Many matters can already be dealt with online. You can find information and forms at any time on the HBL Foundations’ website.