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Healthcare and pensionsPillar 3aGlossary
Pillar 3a

Pillar 3a withdrawals

Two options for withdrawing savings:


Although payments into pillar 3a accounts are tax-deductible, your options for withdrawing the funds are limited. A distinction is made between standard and early withdrawals.

Definition

  • Standard withdrawal:
    The retirement savings accumulated in a pillar 3a account may be withdrawn no earlier than five years before the statutory retirement age (64 years for women, 65 years for men). The pension capital is payable when the beneficiary reaches retirement age. It is still possible to defer drawing your pension assets if you continue to work after this age. You must then withdraw the pension capital when you do retire, which must be within 5 years of statutory retirement age (i.e. at the age of 69 or 70, respectively).
     
  • Early withdrawal:
    Early withdrawal is when you withdraw your pension savings prior to retirement. It is possible to withdraw savings before you retire in the following cases:
    • To finance a home purchase
    • To purchase additional second-pillar pension benefits
    • To start a business
    • When leaving Switzerland
    • If drawing a disability pension
    • Upon the beneficiary's death

Tips
To avoid paying too much tax when you withdraw the capital, it is advisable to spread your 3a assets across multiple accounts to enable staggered withdrawals.

You can find more tips on withdrawing pillar 3a assets here

Have you started to save privately for retirement?

The earlier the better.
Open a pillar 3a account now

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