Epargne 3 account

With our Epargne 3 savings account, you can save up for retirement, a new house, or to become self-employed – all while reducing your tax bill.

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Highlights

  • You put aside as much as you want, whenever you want.
  • Payments into the account are deductible from your taxable income (within the legal limit).
  • The money in your account is not subject to the wealth tax, and it is taxed at a reduced rate as you take it out.

Details

Tax-free interest at an attractive rate

The variable interest rate on our Epargne 3 account is higher than that on our standard savings account. And the interest you receive is not subject to income tax. 

Paying down your mortgage indirectly

You can put money intended to pay off your mortgage into an Epargne 3 account. At the end of the agreed term, you can use the money in the account to pay down your mortgage. The money you withdraw is taxed at a reduced rate.

This method offers significant tax advantages: money paid into an Epargne 3 account can be deducted from your taxable income, and your mortgage debt remains constant during this time and can therefore be deducted in full from your total wealth on your tax return.

Open several accounts to maximize the tax benefits

You can get additional tax benefits when you take money out of your Epargne 3 account by spreading the withdrawals over several years, to minimize the effects of progressive taxation. You can take the money out starting five years before the legal retirement age or, if you continue working, until age 69 for women and age 70 for men.

However, when you take money out of an Epargne 3 account, you must take it all out at once. Therefore you would need to have several different accounts to spread the withdrawals out over time. For instance, if you have two accounts and withdraw a total of CHF 200,000 from them in two separate years, you can cut your tax bill by nearly CHF 5,000 (based on Lausanne tax rates). Note that this practice is not allowed in some cantons, so consult your local tax office before investing.

Fees and conditions

 

 

Fees and conditions

Interest rate

0.20% (31.07.2019)
0.15% (01.08.2019)

Withdrawals

  • Starting no more than five years before the legal retirement age. If you continue working after the legal retirement age and keep paying into a third-pillar account, you can get the corresponding third-pillar tax benefits for up to five years after the legal retirement age.
  • If you want to buy a house or pay down your mortgage
  • If you leave Switzerland permanently
  • If you want to become self-employed
  • If you use the money you withdraw to purchase past years in an occupational pension fund
  • If you become eligible for full disability benefits in the Swiss social security system

Other conditions

  • Your income must be subject to Swiss social security contributions
  • Maximum full-year amount of tax-deductible contributions (for 2015): CHF 6,826 if you pay into an occupational pension; otherwise, 20% of your income (up to a limit of CHF 34,128)

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