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Many in Switzerland dream of owning their own home. Indeed, home ownership provides an excellent opportunity to make provisions for the future. To make your dream come true, you need a deposit. This can come, in part, from the savings you have available. Pillar 3a retirement savings and occupational pension funds can also be used or pledged to purchase a residential property that you will live in yourself.
It is advisable to first use the capital accrued in the 3rd pillar, since you will not lose any insurance benefits by withdrawing it. Banks categorize money from the 3rd pillar as "hard" equity. You must supply at least 10% of the required mortgage amount in the form of "hard" equity.
If you also withdraw capital from the 2nd pillar (occupational pension fund), the benefits in the event of incapacity for work or death will be reduced. Needless to say, if you withdraw capital from your pension fund before time, you will receive a lower pension. Whenever possible, you should close any gaps in the 2nd pillar caused by the purchase of property by making extra payments in subsequent years. Alternatively, rather than withdrawing funds from your occupational pension, you have the option of pledging them instead. This way, you retain your insurance benefits.
Before you purchase a house or an apartment, bear in mind that indirect amortization of your mortgage requires regular payments into pillar 3a.
The subject of pensions is complex. There is often not enough time to research everything in detail. If you wish, you can seek advice from our partner service Optimatis. Our experts have the information that you may spend a long time searching for. Benefit from their expertise by arranging a no-obligation consultation.
The independent partner service Optimatis and its qualified staff will work with you to establish a clear overview and produce a snapshot of your current situation. Optimatis can offer you the solution that best fits your needs from the wide range available on the market – a good reason to seek advice from an independent expert.
You just need to request an appointment and a specialist advisor will be in touch with you. During the meeting, you can decide how and whether you wish to proceed with the solutions proposed.
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