Useful information about the pillar 3a service provider migration calculator on moneyland.ch:
- The pillar 3a service provider migration calculator on moneyland.ch makes it easy to find out how much you will save within any specified savings term based on your savings plan and interest rates, and whether or not moving your pillar 3a savings to a different financial services provider could help you save more.
- The calculator accounts for compounding interest as well as one-time and recurring fees.
- You can find the interest rates and fees of 3a retirement savings accounts using the comprehensive pillar 3a account comparison on moneyland.ch.
- The German 30/360 day count convention is used: Each month has 30 days; each year has 360 days. In Switzerland, this convention is broadly used for the calculation of investments like savings account balances and bonds.
- Deposits and fees are added or deducted from the account balance on an ongoing basis. Interest is added to the pillar 3a account balance at the end of each year. Interest is earned on the full balance, including the interest paid in previous years (the compounding interest effect).
- The account closing fee is applied when you withdraw your pillar 3a savings at the end of the savings term. When you move your assets to another pillar 3a service provider rather than withdrawing them, the (possible) transfer fee charged by your current pillar 3a services provider applies. Because this transfer fee adds to the cost of moving service providers, it is accounted for in the costs shown for the prospective service provider even though it is charged by your current provider.
- Depending on the size of possible fees, it is possible for a pillar 3a savings balance to be negative over a long period of time or even throughout the full savings period. The calculator applies a credit interest rate of 0% for periods during which account balances are negative.
- Calculations are based on the simplified assumption that interest rates will remain the same throughout the savings term. However, in practice banks can change their interest rates on an ongoing basis.
- Financial figures are calculated exactly and them rounded to the second decimal. Rounding differences may occur.
- You can find more retirement calculators here.
- You can find all calculators listed here.
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