Private retirement planning is more important than ever. That is why it is important to us to provide you with all-round advice on the risks of old-age, death, and disability. In order to meet the high demands of advising you about your retirement situation, we us the following apporach:
We are living longer and longer – in 1950 six workers financed one pensioner – in 2030 there will be only two. For this reason, it is important to pay attention to your private retirement arrangements and to organize them at an early stage. Private retirement contributions are the third pillar, which is based on the constitutional 3-pillar principle. Die distinguish in the third pillar:
Pillar 3a or restricted retirement plan
This form of retirement planning is promoted by the Swiss Confederation, where contributions to Pillar 3a are tax-deductible up to a maximum annual deduction of CHF 7’056 for salaried employees and CHF 35’280 for self-employed persons. Due to the tax privileges, the possibility of withdrawing any funds before retirement age is very limited. Restricted retirement plans are offered by insurance companies and bank foundations in various products.
Pillar 3b or unrestricted retirement plan
Pillar 3b retirement plans are not tied to specific terms and are not tax-privileged, so there are no maximum contributions. The unrestricted retirement plan is therefore mainly found at the bank as a bank savings account. Insurance companies also offer Pillar 3b and, beginning from certain time periods, this type of insurance also offers tax benefits.
Securing your income is an important part of your private retirement arrangements, so that you are well protected in the event of a loss of earnings (disability) or to safeguard your surviving dependants (upon your death). The first and second pillars are usually not sufficient to maintain the accustomed standard of living. We therefore recommend that you have a specialist check to see if you have any income gaps.
Premium waiver: If you become disabled, your income will usually fall and the costs may be higher. in the event of your disability, the premium waiver will take over the contributions to your retirement plan and thus ensure your retirement arrangements. As a rule, the insurance solution offers the premium waiver together with retirement planning.
Disability pension: Depending on the level of income, the first and second pillars only cover a small part of earned income in the event of disability. Supplementing private retirement arrangements with a disability pension is worth considering, particularly in the event of illness, so that the gap can be closed as far as necessary in the event of loss of earnings.
Whole life insurance: The classic whole life insurance policy is often referred to as life insurance, as it provides financial security for the surviving dependants in the event of the death of the policyholder. Whether the purpose is to provide financial security for the family, the partner or the business partner, the beneficiaries receive monetary funds. It is possible to choose that the funds be constantly maintained at the same level throughout the duration of the contract or to decrease annually.
The planning of retirement is a complex subject with many providers. We would be happy to provide you with free advice.