SaraVor: Sarasin Pillar 3a Foundation
The advantages of pension savings under the 3rd Pillar
A Sarasin Pillar 3a account offers you the chance of saving twice: once when building up your pension credits and again through the tax benefits you earn.
People who belong to a pension fund can pay this year (2011) up to CHF 6,682 into their Pillar 3a fund, and those who do not have a fund can pay in as much as CHF 33,408. These contributions can be deducted from your taxable income. With a tax rate of, say, 20%, this can reduce your tax bill by as much as CHF 1,336 (employee) or 6,682 (self-employed).
For your payments use the account number 0.67971-8 13 00, BC 8750, Sarasin Pillar 3a Foundation and write your personal account number or ask us for payment orders.
Until benefits are paid out, you save additional tax, as you do not pay any capital gains tax on your SaraVor credits and do not have to pay either income or withholding tax on any proceeds earned.
Payout of benefits
You can draw benefits when you reach the official OASI retirement age.
You also have the right to terminate the contract, but no earlier than five years before reaching OASI retirement age. The accumulated pension credits are also paid out upon the death of the insured. The pension credits may also be used to purchase or build your own home or for paying back a mortgage. Also an application for payout is made by an insured who is leaving Switzerland permanently.
More information can be found in the regulations.
Payments of pension benefits are taxable in accordance with the regulations effective when benefits are drawn (federal withholding tax, income tax, etc.)
