Why are private pensions (third pillar) so important?
To maintain your standard of living after retirement, you need 70-80% of your previous income. The state and occupational pensions will fall short of this amount.
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Life expectancy in Switzerland is on the rise. According to the latest statistics, the average expectancy is 81.4 years for men and 85.4 for women. The state OASI (AHV/AVS) and occupational (pension fund) retirement benefits, on the other hand, are continuously decreasing. The consequence of this is that, in one fell swoop, income is drastically reduced after retirement. As things stand, these benefits amount to around 60% of your original income. However, experience shows that you need 70-80% to maintain your standard of living.
How can I maintain my standard of living when I retire?
If you take out an endowment insurance policy, you can protect your family in case something happens to you, while accumulating savings for a care-free (financial) future after retirement at the same time.
And best of all: if you take out a pillar 3a life insurance policy you can also enjoy attractive tax benefits. This is because you can deduct the annual contributions to your restricted pension plan (up to a legal maximum) from your taxable income.
Arrange a free, no-obligation consultation with one of our independent pension experts now in order to find the right pension solution for your needs, tailored to your personal and financial situation.