Go Back   English Forum Switzerland > Help & tips > Finance/banking/taxation  
Reply
 
Thread Tools Display Modes
  #1  
Old 16.01.2021, 08:48
Member
 
Join Date: Jan 2016
Location: Volketswil
Posts: 139
Groaned at 2 Times in 2 Posts
Thanked 7 Times in 7 Posts
pawp has no particular reputation at present
In-payment and withdrawl from 3a pillar in the same calendar year

If I pay in to 3a pension pillar and withdraw money in the same year to purchase a house, can I benefit from 3a pillar in-payment tax reduction?
Reply With Quote
  #2  
Old 16.01.2021, 10:32
Senior Member
 
Join Date: Apr 2013
Location: Currently in Switzerland
Posts: 395
Groaned at 10 Times in 6 Posts
Thanked 346 Times in 139 Posts
logo123 is considered knowledgeablelogo123 is considered knowledgeablelogo123 is considered knowledgeable
Re: In-payment and withdrawl from 3a pillar in the same calendar year

I don't think so.
The moment you pay in and avail of the tax benefit, your fund is locked for 03 years i.e. you can't make any withdrawals. If you do so, you will lose the tax benefit. What you can do (I think) is that you can pledge the fund without making a withdrawal. That is an option which could help you retain the tax benefit. Talk to your banker and pension fund team to be certain.
Reply With Quote
  #3  
Old 16.01.2021, 11:07
aSwissInTheUS's Avatar
Forum Legend
 
Join Date: Nov 2007
Location: Zurich area
Posts: 12,786
Groaned at 99 Times in 88 Posts
Thanked 19,577 Times in 8,681 Posts
aSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond repute
Re: In-payment and withdrawl from 3a pillar in the same calendar year

Unlike with pillar 2, there is no lock in period with pillar 3a. However you can only retrieve funds every 5 years and no repayments are possible.
https://www.credit-suisse.com/ch/en/...ng-201905.html


If you are married the rules are for each spouse separately and independently. Be aware that to be able to pay into pillar 3a one must have an income subject to AHV/OASI. If pillar 2 is paid the contributions are capped at CHF 6'826 (adjusted every year), or if no pillar 2 is paid the contribution is capped at 20% of the net income.
__________________
On Hiatus- Normal operation will resume 22.02.2022 22:02:20.22
Reply With Quote
The following 3 users would like to thank aSwissInTheUS for this useful post:
  #4  
Old 16.01.2021, 14:17
Member
 
Join Date: Jan 2016
Location: Volketswil
Posts: 139
Groaned at 2 Times in 2 Posts
Thanked 7 Times in 7 Posts
pawp has no particular reputation at present
Re: In-payment and withdrawl from 3a pillar in the same calendar year

Quote:
View Post
Unlike with pillar 2, there is no lock in period with pillar 3a. However you can only retrieve funds every 5 years and no repayments are possible.
https://www.credit-suisse.com/ch/en/...ng-201905.html


If you are married the rules are for each spouse separately and independently. Be aware that to be able to pay into pillar 3a one must have an income subject to AHV/OASI. If pillar 2 is paid the contributions are capped at CHF 6'826 (adjusted every year), or if no pillar 2 is paid the contribution is capped at 20% of the net income.
Thank you. This is already helpful, but it doesn't say what happens if pay in and then payout pillar 3a funds in the same year from tax benefit perspective?
Reply With Quote
  #5  
Old 16.01.2021, 16:55
aSwissInTheUS's Avatar
Forum Legend
 
Join Date: Nov 2007
Location: Zurich area
Posts: 12,786
Groaned at 99 Times in 88 Posts
Thanked 19,577 Times in 8,681 Posts
aSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond reputeaSwissInTheUS has a reputation beyond repute
Re: In-payment and withdrawl from 3a pillar in the same calendar year

Quote:
View Post
Thank you. This is already helpful, but it doesn't say what happens if pay in and then payout pillar 3a funds in the same year from tax benefit perspective?
As usual deduct from your income. On the other side pay the special pay out tax. The PostFinance has a handy calculator for the latter https://www.postfinance.ch/en/privat...m-payment.html
Reply With Quote
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
can I and shall I cancel 3rd pillar payment for a year during a low income year? neutralname Finance/banking/taxation 10 11.09.2019 17:44
2nd pillar account withdrawl grimmus Finance/banking/taxation 9 31.05.2019 11:23
How to free up over-payment in 3rd pillar pension Frankieman Finance/banking/taxation 2 09.12.2015 14:22
what is official statement of 3rd pillar payment? ycnan Finance/banking/taxation 4 07.07.2011 16:57
Where to buy: Large, year months-on-columns 2011 calendar Venturello Other/general 4 03.12.2010 11:26


All times are GMT +2. The time now is 01:29.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0