Without the third pillar, you may be faced with a substantial financial shortfall in retirement. Paying into pillar 3a is not just about accumulating pension funds. You can also save a considerable amount on tax each year and, if you opt for an insurance product, cover yourself against risks such as incapacity for work, illness/disability and death as well.
Good retirement planning is possible in both systems. You only have to make a clear decision between a bank account and an insurance policy if you have big dreams, such as buying your own home, becoming self-employed or leaving Switzerland.