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I read that the government sets a minimum interest rate which Swiss pension funds have to pay for pension money they hold. Does it make sense for me to make extra, voluntary payments to benefit from that interest? My savings account pays me peanuts.
Hi there,
The minimum interest rate for pension funds dictated by the federal government only applies to the compulsory portion of pension savings. The compulsory portion is made up of the compulsory contributions which are deducted from your salary.
Voluntary contributions which you make to close gaps in your pension are not subject to the government-set minimum interest rate. Pension funds may pay out a lower interest rate on these savings if they so choose. Review your pension fund agreement to find out if and how voluntary savings earn interest or ask your pension fund directly.
Depending on the interest rate which your pension fund uses for voluntary savings and the amount of savings you want to save for retirement, opening one or more 3a retirement accounts may be more profitable. You can compare the interest paid by Swiss 3a retirement accounts using the 3a retirement savings account comparison.
Best regards from Moneyguru
