The Third Pillar, is it really convenient?

This is a question that many people ask themselves, and which we will try to answer. First, we should clarify "What is the third pillar for?". Well, the third pillar serves to fill the pension gap left by the 1st and 2nd pillars. Let us not forget that the Swiss social security system was designed to reach retirement with about 60% of our last income (assuming no lack of contributions). To incentivise retirement, the law allows us to deduct up to CHF 6,826/year of income from our taxes. To make things clearer, we can say that by paying the maximum into a third pillar, we will pay approx. CHF 1'500 / CHF 1'800 per year less in taxes (depending on one's income, domicile, etc.). Thus, already from a tax point of view, the third pillar offers a not inconsiderable advantage. At this point you will ask yourself 'but do I really need to do it with an insurance company? Or can I do it in a bank?" Let's say that insurance, unlike a bank account, is the instrument that allows us to get to our destination WHATEVER HAPPENS, as it offers us a few more guarantees than the bank. For example: Should a disability occur due to illness or accident? The insurance will pay the premiums you have to pay UP TO YOUR RETIREMENT, thus arriving at retirement with all the capital you had planned to have. Does a death occur? The insurance company immediately pays out a lump sum to the heirs. It must also be said, that insurance products also have a certain flexibility, for example: They allow you to raise or lower the premium. Some products provide for the possibility of taking breaks in premium payments (e.g. for pregnancy or if you lose your job, etc.). And again. It is a credit instrument. The death capital does not form part of the hereditary mass. In conclusion, is the third pillar worthwhile? Absolutely, and it is essential to do so in good time to protect yourself and those who financially depend on you. Of course, given the vast number of offers and products on the market, competent advice is essential in order to have a third pillar that fully satisfies you and avoid unpleasant surprises.