Changing pillar 3a


Savers can transfer their money from one retirement savings account to another, provided that the total account balance is transferred. This can be very profitable because the interest rates on retirement savings accounts vary from one provider to another, as is shown in the online comparison from comparis.ch.

Transferring one's retirement account to a provider that offers a better interest rate pays off in the long run. Moreover, splitting up one's retirement savings to several accounts with different providers is recommendable. You may hold an unlimited number of pillar 3a accounts, which leaves you free to stagger your withdrawals and even save tax while doing so.

Important to know: Generally, when terminating a pillar 3a account, the money must stay within the third-pillar system; i.e., it may not be transferred to a regular savings account. There are a few exceptions allowing for an early withdrawal, though.


The following chart illustrates how changing your provider works.