I just got some good news today.
The tax refund of my pension payments came in. Now in most countries its not sure if the government will be able to pay the pensions for the upcoming generation so a lot of people have taken to saving extra (if you have not, you should maybe think about it) and a lot of governments have implemented tax cuts for those who do
In Switzerland the pension payments are based on 3 pillars.
1st pillar / AHV: state pension
The 1st pillar is funded through Old Age and Survivors’ Insurance (AHV). It also includes Invalidity Insurance (IV), insurance for loss of earnings during service and maternity and unemployment insurance.
2nd pillar: occupational pension
All employees insured under the 1st pillar and who earn at least CHF 21,330 a year (in 2019) are insured under the 2nd pillar. Mandatory insurance starts when you enter into a working relationship after reaching the age of 17 at the earliest. Until you reach the age of 24, contributions cover only the risk of death and invalidity. From the age of 25, and until you stop working, contributions will also accrue to retirement benefits.
3rd pillar: private pension
The 3rd pillar is a tax deductible pension available to gainfully employed persons on a voluntary basis.
3a pillar – restricted private pension plan for persons earning an income:
Contributions are tax-deductible up to a set amount. This is a restricted pension fund, so you cannot take your savings out any time you like
Paying into the 3a pillar for 2019:
maximum 6'826 francs
You do not have to pay wealth tax on your pension plan savings. Nor do you have to pay income tax or withholding tax on interest and capital gains.
So in the traditional world where normal non crypto people reside this is a sound investment for old age. And it is also one I would recommend for crypto minded people.
Everywhere in the world there are enough taxes to be paid so if you have a chance to get some back you should take it. Even in a tax friendly place like Switzerland.
I consider my crypto assets as a 4th pillar. If there is a bull run coming then its a long shot that will pay off massively, if the whole crypto scene tanks then I guess I will have a little less then before but nothing I cannot live without.
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