Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation
Reply
 
Thread Tools Display Modes
  #21  
Old 03.06.2015, 10:00
22 yards's Avatar
Only in moderation
 
Join Date: Jul 2009
Location: Basel-Land
Posts: 6,610
Groaned at 188 Times in 147 Posts
Thanked 10,973 Times in 4,532 Posts
22 yards has a reputation beyond repute22 yards has a reputation beyond repute22 yards has a reputation beyond repute22 yards has a reputation beyond repute22 yards has a reputation beyond repute22 yards has a reputation beyond repute
Re: 3a account - which bank?

Quote:
View Post
Is it really worth "spreading around" for such a small amount of money with such low interest rates ?
Exactly. Better to invest the whole of each year's allowance of just under CHF 7k in different Pillar 3a accounts. For someone now in their mid-20s, at retirement they would have say 8 accounts, each with a total of about CHF 35k of contributions which even at a crappy return of 2% p.a. will have compounded to about CHF 50k per pot -- a total of CHF 400k to play with, in addition to Pillar 2 and other pension pay-outs.
Reply With Quote
This user would like to thank 22 yards for this useful post:
  #22  
Old 03.06.2015, 10:02
Senior Member
 
Join Date: Mar 2014
Location: Neuchatel
Posts: 257
Groaned at 0 Times in 0 Posts
Thanked 87 Times in 60 Posts
Enohzee has no particular reputation at present
Re: 3a account - which bank?

Does anybody know what the tax rate is when taking out the money (e.g. moving to an EU country)? Obviously it depends on the canton but is there a webpage anywhere..?
Reply With Quote
This user would like to thank Enohzee for this useful post:
  #23  
Old 03.06.2015, 12:52
Forum Legend
 
Join Date: Oct 2014
Location: Ostschweiz
Posts: 3,035
Groaned at 99 Times in 79 Posts
Thanked 3,764 Times in 1,947 Posts
Urs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond reputeUrs Max has a reputation beyond repute
Re: 3a account - which bank?

To chime in:
- you can not split an existing 3a account
- not all Kantons accept any number of 3a accounts, you should first ask the tax office. AFAIK two accounts are accepted everywhere
- many banks open no more than two accounts for the same customer
- deposit insurance is limited to 100k per customer. Most "Kantonalbank" are fully guaranteed by their Kanton (i.e. not limited to 100k insurance), the exceptions being Vaud, Genf, Bern
- transferring a 3a account is free if it's cash-only
- transferring an account that also contains funds will probably cost, and may not be possible to begin with - ask the receiving bank if they accept your funds at all. Selling and buying back at the new bank will also come at probably not-insignificant cost. Whichever way you decide, try to have the new bank shoulder (part of) the transfer cost (they'll be making money on your 3a after all)
- each bank offers different funds, usually only their own
- buying and selling the funds will come at a cost, factor that into TER over the period you expect to hold them

If you intend to (mostly) invest in funds, IMHO the most important factors are their funds' typical TER rate along with past fund performance. The TER will most probably have you strike CS and UBS from your list of contending banks. If OTOH you intend to have your money in CHF the most important factor is the interest rate.

Since there's a clear timeframe during which you can(must) withdraw the funds at retirement, there's a limit to how many accounts are useful.

As for calculation taxes due upon withdrawal (both in english):
CS calculator
Postfinance calculator
Reply With Quote
This user would like to thank Urs Max for this useful post:
  #24  
Old 03.06.2015, 14:18
Member
 
Join Date: Jun 2014
Location: Basel
Posts: 118
Groaned at 1 Time in 1 Post
Thanked 38 Times in 27 Posts
dbucar has made some interesting contributions
Re: 3a account - which bank?

A bit offtopic, but kind of related - what are the conditions for withdrawing the 2nd pillar when leaving the country? (CS calculator above mentions it in the calculation)

Is there a difference between EU / non-EU etc.?

I believe I read somewhere there is an option of either transferring it to the other fund or getting the cash out.
But I lost the source
Reply With Quote
  #25  
Old 03.06.2015, 14:40
MennoFloyd's Avatar
Senior Member
 
Join Date: Aug 2013
Location: Deutschschweiz
Posts: 292
Groaned at 2 Times in 2 Posts
Thanked 420 Times in 193 Posts
MennoFloyd has become a little unpopularMennoFloyd has become a little unpopular
Re: 3a account - which bank?

Quote:
View Post
A bit offtopic, but kind of related - what are the conditions for withdrawing the 2nd pillar when leaving the country? (CS calculator above mentions it in the calculation)

Is there a difference between EU / non-EU etc.?

I believe I read somewhere there is an option of either transferring it to the other fund or getting the cash out.
But I lost the source
According to ch.ch:

"Permanent departure from Switzerland You may draw on your pension if you can prove that you are leaving Switzerland permanently to settle abroad.



Payout of the pension fund to persons moving to an EU / EFTA member state


Anyone leaving Switzerland to settle in an EU/EFTA member state, may generally not cash in their pension from the compulsory pension plan as persons in the new country of domicile are insured by law to receive old age, survivors' and invalidity benefits. The mandatory portion of your pension assets must therefore remain in a blocked account (vested benefits account or policy) in Switzerland and can only be paid out when you reach retirement age. The extra-mandatory portion of your pension, however, may be paid out in cash. The mandatory and extra-mandatory portions of your pension are listed on the personal insurance certificate under the heading ‘Retirement provision information’."


https://www.ch.ch/en/withdraw-pension-early/
Reply With Quote
This user would like to thank MennoFloyd for this useful post:
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
In which bank to open a bank account? MariV Finance/banking/taxation 11 16.10.2012 13:11
Opening a bank account on arrival, which bank is the cheapest on fees!? bunbury Finance/banking/taxation 21 08.06.2012 17:27
stock trading account- which bank? Treverus Finance/banking/taxation 22 05.01.2012 02:57
which bank charges the least bank charges for new account dreamcatcher Finance/banking/taxation 6 06.12.2011 12:36
which US bank account to open chill_lee Finance/banking/taxation 5 08.07.2011 08:47


All times are GMT +2. The time now is 14:40.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2016, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0