Swiss 3a insurance policy expiring

My Swiss 3a retirement insurance policy is expiring soon. If I choose to cash out the policy and transfer the money to another 3a retirement account, do I have to pay tax on the assets when I cash out? If so, will my savings be taxed again when I eventually close my 3a retirement account?

Thanks for your help here.

Greetings,

Assets held in Swiss 3a retirement solutions are not taxed until they are withdrawn ahead of retirement. You do not pay taxes on assets when you moving them from one tax-privileged 3a solution to another.

Best regards from Moneyguru

More on this topic:
Pillar 3a retirement savings account comparison
Pillar 3a investment accounts explained
Swiss taxes: Using the third pillar

Life insurance is not the best way to save long-term for retirement. The costs are generally high, and the amount you are guaranteed to get is usually not much more than you pay in. Maybe you will get more than if you use a pillar 3a savings account, but maybe not. Life insurance is also very intransparent, so it's hard to know how much money you'll get back if you end your insurance.

Long term it is better to invest, or at least that has been the case in the past. I think if you will be keeping your pillar 3a savings for at least 10 or 20 years, then at least part of your pillar 3a savings should be invested in the stock market. Finpension and Viac are two good solutions for investing pillar 3a savings. True Wealth also is not bad. There are a couple of others too.