Open a Pillar 3a account: requirements and process
Anyone wanting to open a 3a account chooses between a bank and a pension app; an insurance company offers a tied pension policy instead. Compando shows who is eligible, how the opening works and which documents are needed.
1. Who may open a Pillar 3a account?
A Pillar 3a account may be opened by anyone who earns OASI-liable income in Switzerland. What counts is the OASI contribution, not the level of the salary. This applies to the large majority of the working population:
- Employees, including part-time or with a small workload
- Apprentices with a wage or a side job
- Self-employed persons with OASI-liable income
- Cross-border commuters, provided they are subject to Swiss OASI
Anyone who earns no OASI-liable income, such as students without a side job, cannot contribute. The self-employed without a pension fund may pay in a higher maximum contribution; for expats, the social-security and tax status additionally determines the contribution.
You may also contribute after the reference age, up to a maximum of five years beyond it, provided you remain in OASI-liable employment. The eligibility applies to all forms of Pillar 3a, from the account to the securities solution. How much you may contribute per year is set by the maximum contribution; the resulting tax savings differ by income and canton of residence.
2. How do I open a Pillar 3a account?
A Pillar 3a account is opened quickly: with a pension app, the opening runs entirely online and is completed swiftly after identification. With a bank and personal consultation, it takes correspondingly longer. Between bank and app, it is mainly the fees that matter, not the route there. Anyone who instead takes out a 3a insurance policy must, for death or disability protection, additionally pass a health assessment.
3. Opening a 3a account: which documents are needed?
For the opening you need:
- ID (identity card or passport) for identification
- OASI number, if the provider already requires it at opening
- Residential address for identification and for the tax domicile
In special cases, further proof is added: the self-employed prove their activity with a confirmation from the OASI compensation fund or a commercial register extract, and for foreign nationals the provider may additionally require a residence or cross-border permit. The provider clarifies in advance which additional documents are needed.
4. What does a Pillar 3a account cost?
At most providers, opening and account management are free. The ongoing costs, however, differ markedly by account type; on top of that come possible fees for closure, provider switch or early withdrawal.
Account type | Costs | When it makes sense |
|---|---|---|
Interest-bearing 3a account | no account-management fee, but a low interest rate | short horizon or high need for security |
Securities solution | ongoing administrative and fund costs as a percentage of the balance | long investment horizon, fluctuations no problem |
Multiple accounts | possibly an account-closure fee per account | planned tax optimisation at withdrawal |
Anyone who checks and compares the providers before opening recognises these cost differences early.
Providers in direct comparison
Which solution fits your profile is shown by the direct provider comparison by costs and investment options.
