Individual provision |
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Anyone may set up an individual old age pension by entering into a provision contract with an insurance company, banking institution or by taking out a life insurance policy.
There are two types of individual pension plans: a tied individual pension plan (3a), which is linked to paid activity, and an unrestricted pension plan (3b), which is more like a long-term savings plan. An individual pension plan generates tax breaks and can be unlocked to facilitate home ownership. The terms, benefit amounts and other conditions depend upon the product chosen.
Excerpt from the brochure entitled "Living and working in Switzerland" published by the Federal Office for Migration.