What are the conditions for withdrawing your 3rd pillar?

As a general rule, the savings set aside as part of an individual pension plan are intended to provide you with a comfortable retirement. Yet there are a number of conditions that may allow you to withdraw from the 3rd pillar early, and without breaking the law in Switzerland. But what are these reasons? Does this apply to both types of personal pension provision? Find out without further delay in this article.

When you reach the legal retirement age, you finally have the opportunity to recover the capital on your Swiss 3rd pillar 3A. Contributions made during all your savings years are tax-deductible, subject to the statutory ceiling. If you decide to withdraw your savings for your retirement, you will be able to receive the capital and its interest, while having the choice between a lump-sum payment or an annuity for life, according to your preferences.

Ordinarily, therefore, withdrawal from your linked 3rd pillar can take place at age 64 for women and age 65 for men, since this corresponds to the retirement age in Switzerland. Nevertheless, it is possible to withdraw this money up to 5 years before or after the expiry of your pension contract, and this is perfectly legal as long as you continue to be gainfully employed.

The withdrawal date for the 3rd pillar 3B is, for its part, mentioned on the insurance contract. However, you can withdraw the funds whenever you like, without having to justify your decision. However, it's not the money saved that you'll be able to collect, but only the surrender value, which is not necessarily advantageous during the first few years of the contract.

Apart from when you retire, you can also withdraw your 3rd pillar 3A early in a number of cases. However, for this to be possible, written agreement must be given by your spouse or partner. The various reasons why you may wish to withdraw your 3rd pillar 3A early are set out in more detail here.