In this episode of «What the …? Insurance in a nutshell» - AXA's explanatory video series for young adults - we explain how the Swiss three-pillar system works and the best way to prepare financially for retirement, disability, and death.
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In this video, we answer the following questions:
00:00 Which topic are we talking about today?
00:15 What's the three-pillar principle?
00:32 What makes up the first pillar (state pension)?
00:44 Is the state pension mandatory? How do you pay into it?
00:53 How can pension gaps arise? How much time do I have to close these gaps?
01:10 When do I get the money from the first pillar?
01:22 What makes up the second pillar?
01:30 What risks does the second pillar (occupational pension) cover?
01:45 How does the mandatory part of the occupational pension work? How much money is paid in? How much does my employer pay into my pension fund? How much do I have to pay in myself?
02:11 How does the extra-mandatory part of the occupational pension work?
02:29 Where can I see my benefits in the second pillar?
02:34 Should I ask about occupational pensions in a job interview?
02:39 When can I get money out of the second pillar?
02:52 Why is the third pillar (private pension) so important?
03:02 How is the third pillar structured?
03:09 How does Pillar 3a (tied pension) work? When do I get the money from Pillar 3a? Can I have the money in Pillar 3a paid out early?
03:33 How much money can I invest in Pillar 3a?
03:42 What advantages does Pillar 3a offer?
03:47 How can I use Pillar 3a to close gaps in terms of disability and death?
04:16 How does Pillar 3b (flexible pension) work? How much money can I invest in Pillar 3b each year? What tax breaks does Pillar 3b offer?
04:36 When should I start investing in the third pillar? Why is it a good idea to start as early as possible?
05:15 Where can I get a third-pillar solution?
More info on occupational pensions (second pillar): www.axa.ch/my-pensionfund
More info on private pensions (third pillar): www.axa.ch/pension-check
What types of insurance do I need? www.axa.ch/key-insurance
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