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Sophie

Pillar 3a at the bank or with an insurer

These are two different products sold under one name. One is an account you feed when you like; the other is a contract that commits you for years, in exchange for cover.

The bank account

You pay in what you want, when you want, up to the annual ceiling. A lean year costs nothing beyond that year’s tax deduction. The account can stay in cash or be invested in securities, with management fees to compare as a percentage.

This is the flexible option, and it suits most situations. Holding several accounts lets you stagger withdrawals across tax years, which reduces the payout tax.

The insurance policy

It combines savings with cover: a death benefit, and often waiver of premium if you become unable to work. That cover has real value for anyone with dependants and nothing else protecting them.

In return it commits you for a long term at a fixed premium. Early surrender generally ends in a loss, sometimes a heavy one in the early years, because acquisition costs are charged up front. Never sign a 3a policy without asking, in writing, for the surrender value year by year.

What drives the price

  • Your ability to pay in regularly, year after year.
  • Whether you need death cover or waiver of premium.
  • The investment horizon, and the share held in securities.
  • The fees, expressed as a percentage rather than in francs.

We show no tariffs on this page. Unlike LAMal premiums, no public register publishes prices for this branch: they depend on your profile and are calculated case by case. Quoting a figure here would be an invention.

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