Not quite sure what the intended tone of this mail was.

But, my 3rd pillar is all capital.

My 2nd pillar includes an option for the capital to be paid out in the event of death pre retirement. A widow gets a pension but can elect to get the capital less payments received. Not everyone will have a widow, and so you can nominate the beneficiary (not sure how this interacts with spousal rights if any).

Clearly with an annuity rate at c 6% the pension is an attractive option, but there may be situations where the cash is needed, or the 40% haircut on the widows pension is not attractive (say you died almost at retirement age).

D