Provision consulting

Professional pension counselling includes a holistic view of the individual life situation with the aim of addressing all relevant areas of pension provision. This includes a detailed assessment of the current life and financial situation (ACTUAL analysis), including an analysis of assets and liabilities. In addition, the planning of personal and occupational pension provision and tied pension provision, the clarification of inheritance and property issues and the optimisation of the tax situation are also considered. A central aspect of pension advice is to develop a customised strategy that optimally supports personal and financial goals and at the same time ensures protection against risks.

Retirement counselling provides support in planning and preparing for retirement. Various scenarios are compared on the basis of financial planning and a customised strategy is developed to ensure financial security in the third stage of life. Retirement counselling provides an important basis for making one-off decisions such as the form of pension fund withdrawal or the timing of retirement.

There is no one-size-fits-all answer as to when you should start planning for retirement, but the earlier you want to retire, the earlier you should start planning. We generally recommend starting retirement planning between the ages of 50 and 55. That way, you won't miss any opportunities to optimise your situation and there will be enough time to plan and implement measures. Dealing with the topic at an early stage allows you to realistically define your personal goals and gives you more time to work towards a specific goal. Even small steps can make a big difference in the long term.

Retirement planning raises many questions and involves many topics (e.g. AHV, pension fund, vested benefits, pillar 3a/b, inheritance, real estate, mortgages, securities, succession planning). All of these topics are interlinked and there is a risk of getting lost in the details when dealing with them. Financial planning is the best tool for maintaining an overview and recognising and understanding the interdependencies. The clarity gained is the basis for making the right decisions. It is advisable to review your planning regularly in order to be able to react to any changes in your personal or legal situation.

Independent advice is essential to ensure that the interests and needs of the person concerned are prioritised. Many providers and brokers of financial products or financial services have a conflict of interest due to financial incentives, which can influence their recommendations. An important indicator of the independence of advice is the type of financing. If advice is free or favourable, this indicates cross-financing through the sale or brokerage of financial products or services.

The decision between a pension or a lump sum cannot be answered in general terms and should be weighed up carefully. It is a very individual decision that depends on various factors. In principle, however, it can be said that drawing a pension is uncomplicated and offers a great deal of security. This also applies to a longer life expectancy, as the pension is guaranteed for life. Financially, the pension can be particularly advantageous if there is a large age difference between the spouses or if children have pension entitlements. The advantage of a lump-sum withdrawal is that the tax burden is usually lower in the long term than with a pension withdrawal. Withdrawing a lump sum gives you the opportunity to organise the capital as you wish and surviving dependants are better off in the event of an early death after retirement. However, the capital must be organised according to needs and should generate income and not simply lie idle in an account. This presupposes that you consider the topic of investments and are prepared to accept certain risks and fluctuations. Ultimately, the decision depends on personal circumstances, goals and preferences. An interim solution with a combination of pension and capital can often be a sensible option.

The Swiss pension system consists of three pillars. The first pillar is the state pension scheme (AHV/IV/EL), the second pillar is the occupational pension scheme (BVG/pension fund) and the third pillar is the private pension scheme. In contrast to the 1st and 2nd pillars, the 3rd pillar is voluntary. Within the third pillar, a distinction is made between restricted pension provision (3a) and unrestricted pension provision (3b). Payments into the tied pillar 3a are savings that are intended for retirement and are therefore tied up or blocked until retirement. Only in exceptional cases can these savings be drawn on early. For example, for the purchase of owner-occupied residential property, the repayment of a mortgage, for taking up self-employment, in the event of emigration or disability.

The advantages of pillar 3a are of a tax nature. The state wants to encourage voluntary saving for retirement with a financial incentive. Specifically, payments into pillar 3a can be deducted from taxable income and thus reduce the income tax burden. In addition, there is no wealth tax or income tax on earnings within Pillar 3a. Only when the saved capital is withdrawn is there a privileged capital withdrawal tax, which is lower than the normal income tax.

Anyone who earns an income subject to AHV contributions can pay into pillar 3a from the year in which they reach the age of 18. Payments into pillar 3a are possible up to the age of 70. Persons who are affiliated to a pension fund may pay in a maximum of CHF 7,056 per year (as at 2024). Anyone who earns an income subject to AHV contributions but is not affiliated to a pension fund can pay in up to 20% of their net earned income (gross income less social insurance contributions), up to a maximum of CHF 35,280.

There are various options for paying into pillar 3a: Pillar 3a account: The pillar 3a account has the same function as an ordinary savings account. The interest rate is usually slightly higher as the capital is tied up for longer. In contrast to a savings account, the interest and the capital saved are tax-free until they are paid out. It is a pure savings solution and the amount of the deposit can be freely defined each year. In addition, the account can easily be switched to a securities solution and vice versa. The account offers a great deal of flexibility in the choice of provider, implementation solution, payment and withdrawal dates. Pillar 3a securities solution: A securities solution means that the amounts paid in are invested in investment funds. By investing the capital in shares, bonds and property, you can generally expect significantly higher returns than with an account solution. However, investments are always associated with investment risks and losses cannot be ruled out. To minimise the risk of loss, the investment horizon should be around 10 years. The securities solution also offers a great deal of flexibility in the choice of provider, implementation solution, payment and withdrawal dates. Pillar 3a insurance policy: The insurance policy not only allows you to save, but also insures risk benefits. In addition to saving capital, a lump-sum death benefit, a disability pension and a premium waiver in the event of disability can also be insured. For the savings capital, you can choose between a fixed interest rate or a securities solution. The annual premium is divided into a risk premium to cover the insured benefits and a savings premium, which flows into the savings capital. The premium is due annually and the payout date is defined with a fixed expiry date. The insurance solution is significantly less flexible but offers the possibility of protecting yourself and your family in the event of a risk. Which solution is the best depends on your personal situation, needs and preferences.