Everything that you would otherwise set aside for old age, for example in the form of a savings account or by investing in securities, is known as Pillar 3b. Pillar 3b refers to private savings that, unlike pillar 3a, are not tax-deductible.
Declaration in the tax return
You must declare balances on accounts, securities, and repurchase values of pillar 3b insurance policies in the list of assets in your tax return. The value of Pillar 3b assets are counted as taxable assets and income from them as taxable income.
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