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3rd pilar tax saving : watch out.
Sep 20, 2010 @ 23:39

Dear all,


As Glocals is mainly composed of expatriate, I would like to warn you about the real benefit of 3rd pilar insurance saving in the Allianz insurance guide.


This saving is not made for you as it should be only propose to person who will stay in Switzerland more than 10 years.
With insurance 3rd pilar, when you will leave Switzerland they will calculate " la valeure de rachat" means waht you saved minus the cost of the insurance ( death and invalidity), so in the best case 70% of what you saved before 10 years, if you leave after 5 years less than 40 %...


I red in the insurance guide on glocals about the 3rd pilar and the example is good only if you save money with bank not insurance. Indeed, any bank can also propose you 3rd pilar with same tax saving deduction but whenever you leave the country, you will take back what you really invest plus benefit...


So yes 3rd pilar is very interesing saving but be carreful with wich compagny you will subscribe...


Patrick

The text you are quoting:

Dear all,


As Glocals is mainly composed of expatriate, I would like to warn you about the real benefit of 3rd pilar insurance saving in the Allianz insurance guide.


This saving is not made for you as it should be only propose to person who will stay in Switzerland more than 10 years.
With insurance 3rd pilar, when you will leave Switzerland they will calculate " la valeure de rachat" means waht you saved minus the cost of the insurance ( death and invalidity), so in the best case 70% of what you saved before 10 years, if you leave after 5 years less than 40 %...


I red in the insurance guide on glocals about the 3rd pilar and the example is good only if you save money with bank not insurance. Indeed, any bank can also propose you 3rd pilar with same tax saving deduction but whenever you leave the country, you will take back what you really invest plus benefit...


So yes 3rd pilar is very interesing saving but be carreful with wich compagny you will subscribe...


Patrick


TrykySep 20, 2010 @ 23:39
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Re: 3rd pilar tax saving : watch out.
Post 1
Sep 21, 2010 @ 09:29

thanks for the heads up P

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thanks for the heads up P


Charlie, Sep 21, 2010 @ 09:29
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Re: 3rd pilar tax saving : watch out.
Post 2
Sep 21, 2010 @ 18:56

My pleasure Charlie...


I will recommand for those who are interested Pictet 3a fonds de prévoyance, even if you re not millionaire, you can open a 3rd pilar account in this Swiss privat bank.


Feel free to ask me more detail.

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My pleasure Charlie...


I will recommand for those who are interested Pictet 3a fonds de prévoyance, even if you re not millionaire, you can open a 3rd pilar account in this Swiss privat bank.


Feel free to ask me more detail.


Tryky, Sep 21, 2010 @ 18:56
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Re: 3rd pilar tax saving : watch out.
Post 3
Sep 22, 2010 @ 14:45

Tryky, 


You're 100% correct, and we revised the 3rd-Pillar Section of our Insurance Guide, which wasnt clear enough before on this point, to reflect this. Thanks!


By the way, in our 3rd-Pillar seminars (one happening tonight!) the presentor explains exactly the difference between getting 3rd Pillar with an insurance company, or with a bank. And she publicly & clearly makes the same conclusion you did: if you know you're in CH for short term only, get 3rd pillar with a bank, not an insurance company. 


Thanks again, 


Nir

The text you are quoting:

Tryky, 


You're 100% correct, and we revised the 3rd-Pillar Section of our Insurance Guide, which wasnt clear enough before on this point, to reflect this. Thanks!


By the way, in our 3rd-Pillar seminars (one happening tonight!) the presentor explains exactly the difference between getting 3rd Pillar with an insurance company, or with a bank. And she publicly & clearly makes the same conclusion you did: if you know you're in CH for short term only, get 3rd pillar with a bank, not an insurance company. 


Thanks again, 


Nir


Nir Ofek, Sep 22, 2010 @ 14:45
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Re: 3rd pilar tax saving : watch out.
Post 4
Sep 22, 2010 @ 15:47

Hi Nir


I wish I could come to your seminar.


Next time I hope


Cheers

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Hi Nir


I wish I could come to your seminar.


Next time I hope


Cheers


Tryky, Sep 22, 2010 @ 15:47
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Re: 3rd pilar tax saving : watch out.
Post 5
Sep 22, 2010 @ 17:15

any US citizens or permanent residents should also be VERY concerned about the taxability of any contributions to or profit in a 3rd pillar investment plan!


 

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any US citizens or permanent residents should also be VERY concerned about the taxability of any contributions to or profit in a 3rd pillar investment plan!


 


mbgoldst, Sep 22, 2010 @ 17:15
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Re: 3rd pilar tax saving : watch out.
Post 6
Sep 22, 2010 @ 19:12

as a us citizen, if you take your total pension at the end, you are liable for a huge tax payment to uncle sam. you are not even able to transfer it into another plan if you cash out, without being taxed by the us!

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as a us citizen, if you take your total pension at the end, you are liable for a huge tax payment to uncle sam. you are not even able to transfer it into another plan if you cash out, without being taxed by the us!


epicure, Sep 22, 2010 @ 19:12
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