Hi

I understand that Saule 1 is the state pension....hence...supllied by the state when required age is reached.

Saule 3 ...is a private pension ( which is optional ) that you deduct from your monthly wage and is tax deductable and cant be more than 6565 chf per year.I have just started for a bank ...so I guess I let them know to deduct a certain amount a month.

Am I right sofar ?

Saule 2...I dont understand...Are they not deductions that are taken from my monthly wage and goes towards the state pension.?????

I was previoulsly working for a a trading company ...through a recruitment agency...and when i finished i got a statement from winterthur insurance saying I had paid in 15k chf...is this saule 2 or saule 3 ??

Is it possible to receive all 3 pensions when one retires???

sorry for the stupid questions

Thanks

Iste

As far as I am aware, there are 3 pillars, Maybe saule?
The third is voluntary and you can offset this against your tax - up to about 6k per year per married person.
The second pillar is what you and your company pay.
Not too sure about the first - maybe this covers everyone else.
I am sure someone will explain this more eloquently and even better. But this is how I believe it hangs together in CH.
The idea is that you receive all 3 when you retire - but I think with third pillar you have more control. You can even use this money to buy a house now.

If you Google 'three pillars Switzerland', one of the sites shown gives this basic information on the subject of Old-Age pensions.

Pillar 1: a Swiss government compulsory retirement insurance, AHV or AVS. When you reach official retirement age your pension will be calculated from the number of months you paid into the scheme, and your average salary. This is a very complicated subject, and I am not prepared to answer this more deeply, you should consult the office where you live or an accountant. This is not a savings scheme, there is no money to claim.

Pillar 2: is your Company Pension (BVG or PPL)scheme. Your company decides which fund to use and sets the rules. Usually you and the company each pay equal contributions. When you leave the company your part of this fund is paid into the fund of your next company. If you are unemployed it is paid into a fund of your choice (e.g. a fund operated by a large bank) You cannot normally access this fund, unless you are buying a house or becoming self employed. Again it's complicated...

Pillar 3: is your own voluntary fund where you have some control. I believe the first CHF 6,565 saved per annum is tax free, but only if you leave it alone until you retire. Further in payments can be made but these are not tax free.

Other funds: not usually any tax advantages, but then we pay low tax anyway. Many people have been burnt recently by various savings schemes failing. It is probably best to consult an accountancy company and save with several different institutions.

Divorce and death. If you divorce: you and your spouse each gets half the money you both aquired whilst you were married (Including your pension funds). You should make a Testament or Will as there are Swiss laws about leaving your money and estate to your relatives and friends. Visit a Notary for advice.

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If during one year, you did not pay into pillar 3, can you double up in the following year: i.e. 0 CHF in year 1, 12k CHF in year 2?

No, you cannot