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Old 31.05.2009, 23:48
Bayesco Bayesco is offline
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Re: 3rd Pillar Pension Fund

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Just opened a 3rd Pillar with Postfinance and filled in another form for my existing 3a to be transferred there. Made it clear the account was dedicated to the indirect amortization of a mortgage (PF rates now 2.75% vs. 2.25% with ZKB).

Just got a letter back from the Kantonalbank where I still have my mortgage and they say it has an "unmittelbar Verbindung" with my mortgage therefore they won't comply.

So my only option is to change mortgage providers? (Or send in the lawyer?).

Legally it should be possible to transfer your 3a pillar amount to another 3a foundation. You can pledge your 3a at Postfinance to the ZKB.

There is a little bit more work (one shot). The problem is that ZKB will earn less afterwards. The market for pillar 3a is quite rigid. Most people open an account by a bank or have a 3a life insurance....and it stays for ages like this. Besides on getting the interest for your mortgage, they want to have your 6K every year (which reduces their risk, as the amount which is pledge gets higher) and at the same time they pay you a low(er) interest.

The best thing ist o talk to ZKB and convince them...."unmittelbare Verbindung....has nothing legal....but explains really well what is meant (as below).
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