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Old 09.02.2021, 21:16
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3A Question - Early Withdrawal

2 years into a 10 year fixed rate mortgage, upon which I have a tied 3A with an insurance company. Yep, signed a terrible deal, should have acquainted myself more with the finer details, etc., etc. I've already flayed myself and walked over hot coals - metaphorically speaking.

Questioning now whether it might be more worth my while to bail and switch the 3A to one directly with the bank I hold the mortgage with - to get the flexibility that offers (i.e. lose an 'attractive' interest rate, but gain flexibility and don't have to pay the somewhat opaque fees + primes that the insurance company levies (circa 800 out of the 3A CHF 6826 a year).

A few questions:

1. Are there fees levied (on top of taxes), for early withdrawals prior to retirement age with a bank 3A - I've read that early withdrawals are possible every 5 year - to pay down the mortgage?

2. Potentially cheaper to switch to a different 3A later, in agreement with my creditor bank, than with the insurance company's 3A?

3. Perspectives on whether people on here think that a bank 3A with a crappy interest rate plus some flexible is preferable to being locked into a 3A with some limited insurance benefits and with stiff penalties for withdrawal prior to term?

Before you all sharpen your daggers, I'm a Philosophy graduate, ergo financially illiterate.
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3a mortgage, indirect amortization

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