The perfect complement to frankly – outside of pillar 3a

frankly is the digital pillar 3a offering of Zürcher Kantonalbank (ZKB). The ZKB’s Pension Foundation “Sparen 3” contributes its many years of experience. Products from Swisscanto are used for the actual investment. To give you a better overview of things like frankly fees, frankly experiences and frankly criticism, we have compiled the most important points for you in the frankly comparison.

Pillar 3a – disadvantages and advantages

You can deduct the money you pay into your pillar 3a from your taxable income. This helps you to save taxes. The amount you can pay in for 2023 is limited to CHF 7’056. This applies if you are affiliated to a pension fund. If this is not the case, the maximum amount is 20% of your earned income, max. CHF 35’280.

However, you are relatively strongly restricted in the availability of the funds. You can only withdraw money from pillar 3a if, for example, you want to buy or amortise owner-occupied residential property, if you permanently deregister from Switzerland (emigration) or if you take the step of becoming self-employed. And of course when you reach retirement age or at the earliest 5 years before.

So you see, if you don’t want to limit the deposit to roughly CHF 7’000 and also need flexibility in the availability of the funds, then you should use a supplement – outside of pillar 3a – to frankly.

findependent as the perfect extension outside pillar 3a

To offer investments outside of pillar 3a as easily and cheaply as frankly, VIAC & Co. do, that is one of our drivers, which is why we founded findependent. Our investment app is the cheapest in Switzerland while we’re not restricted in terms of maximum deposits or withdrawal terms.