In Switzerland, the term “pillar 3b” refers to private retirement savings which are not tax-privileged. This category includes 3b life insurance policies, 3b retirement funds and 3b retirement accounts. Unlike pillar 3a retirement savings, contributions made to 3b solutions are not tax deductible.
There are no government limitations on when 3b assets can be accessed. This depends only on the terms and conditions of the policy, fund or account in question. However, 3b savings are taxed at a preferred rate when they are withdrawn no sooner than 5 years ahead of legal retirement age.