I'm (still!) trying to get my head around retirement planning while saddled with the blue passport...
Because our dearly beloved Uncle Sam
does not consider Pillar 2 a qualified plan, we pay US tax on Pillar 2 contributions, both the employee and employer portions, as earned income in the year accredited, rather than when distributed post retirement. As per our accountant.
Seems sort of illogical to me - not that logic has anything to do with US tax - as the money really isn't ours yet. For instance, if one elects to take an annual payment rather than a lump sum and then shortly thereafter shuffles off this mortal coil, one could end up having paid US tax on a huge amount of money one never actually received.
I'm curious to know if any of you have received different advice from your tax people.