This is a brokerage service, but not a wealth management service. According to pension regulations, they must perform wealth management services but not just a plain brokerage service. Thats exactly the point.
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BVV regulations are still the same than how you probably remember them. The only thing is that it is now clear that these regulations apply for the full ammount of the investment foundation (but not the individual polic):
SR 831.441.1 - Verordnung vom 18. April 1984 übe… | Fedlex (admin.ch)
The question on asset limits is mainly what could reasonably be argued to still be adequately diversified.
With regard to the point of managing things, I would refer to article 48f that clearly states that they manage the wealth (so its no brokerage service but wealth management):
SR 831.441.1 - Verordnung vom 18. April 1984 übe… | Fedlex (admin.ch)
In my view, FP is clearly non-compliant here.
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It’s an interesting point of view, but I think you’re fixating too much on rebalancing being a necessary part of asset management. I’m clearly managing my family’s assets, and I happily disable rebalancing on the 3a part of it to minimize costs. I insist on this being a prudent thing to do.
Interesting
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= Not 3a.
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ah ok, thanks. It was too good to be true
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Hi everyone,
After allocating funds for 2 years in a Finpension 80% Equity portfolio, I am wondering how to move forward this 3rd year.
I have some questions:
-
For a non-expert, is it worth the burden of creating your own customised strategy? I know many of you suggested this, but I don’t feel I am yet there to make a sound decision on that front.
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I know we can’t predict the future, but wouldn’t going 99% Equity be way too risky provided that stocks are at at ATH (in general)?
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Would it be a good idea to just deposit Cash in Finpension, get an interest (is that 1%?) and get the tax benefit while waiting to see what happens with the market and then eventually switch to a different strategy?
Thanks, everyone!
All-time highs are usually followed by another all-time high. The stock market is not a lake or a river with a historically average water level it will always go back to. If that were the case, the average return of stocks would approach 0% over a long enough time period.
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I would love to see
iShares Core MSCI Emerging Markets IMI UCITS ETF (Acc)
in your offerings for 3a portfolios. You already use it for Invest portfolios, and you are absolutely right! Admit it, it is much better than those Swiss index funds on emerging markets that you are using now. And for emerging markets, there are no tax advantages in using a Swiss index fund over an Irish ETF. Unless I miss something, and in this case I would be thrilled to be enlightened.
元博士
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Why do you think the ETF is much better than the index fund?
Some weeks ago I have logged in into my finpension account first time in few months (yeah, I am zen) and was surprised to find new Canada and Pacific ex-Japan funds from Swisscanto in my portfolio. The new fund classes are only approved for pension funds and similar.
- I really appreciate that finpension is constantly trying to improve their offer and I consider it the best 3a provider for “advanced/experienced” investors. I totally subscribe to the idea that not looking at your portfolio comes with significant behavioral advantages. However, I would like to be informed in the change of available investment instruments, especially if I am directly impacted by a change in my holdings.
Appproximately 4 years ago finpension was switching World ex CH and Japan fund classes from CS. At that time, I think it was announced. Approximately 2 years ago I had noticed that a new fund for Canada had appeared only because I browsed the list of funds.
Why such silence? It’s a perfect opportunity for a self-promotion.
If there was a message and I missed it, tell me I am an old fart.
- Does new Canada fund comes with tax advantages, such as being exempt from withholding taxes in Canada?
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@Dr.PI Thank you for the fair question — and no, you are not an old fart.
In this case, the change was not a change of fund content. The holdings were switched from the Swisscanto NT share class to the NM share class. Economically, the investment exposure remains the same: the fund still invests in the same market segment.
The difference between the two share classes is mainly operational and administrative. With the NM share class, income is reinvested without Swiss withholding tax being deducted first. For us, this means less administrative effort, because we do not have to reclaim Swiss withholding tax from the Federal Tax Administration. From the client’s perspective, there is no investment advantage or disadvantage because we pre-finance the Swiss withholding tax for our clients even in funds where we must first reclaim the Swiss withholding tax.
That is why we did not actively inform clients about this specific share-class switch. Since the practical effect for clients was essentially neutral, we considered that a separate announcement might create more confusion than value.
Regarding your question on the Canada fund: the NM Canada fund (CH1529078557) is not exempt from Canadian withholding tax. The Canadian withholding tax exemption applies to the NT share class with “IPF” in the name.
Hope that helps!
Your finpension Team.
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Thanks for your clarifications here, @finpension .
I see that since 13.4.26 I have an “NMT” share class (it says NMT on the fact sheet), I assume this is the “NM” share class that you refer to, correct?
I also see on the fact sheet that the ISIN of my fund is CH1529078557, so not exempt from Canadian WHT. I can’t find a fund Canada NT share class with IPF in the name.
I see only funds for World, USA and Japan with IPF in the name.
Did I miss it, the Canada share class with IPF? Or is it not available (yet), in the funds available?
This is for my Freizügigkeit, not 3a, in case it makes a difference.
Not trying to be pedantic/Tüpflischiisser, just trying to understand.
Yes, the “T” in NMT stands for “thesaurierend,” which translates to “accumulating” in English.
Regarding the Canadian withholding tax exemption: it applies only to the World Funds from Swisscanto in the NT share class that includes “IPF” in the name. At finpension, there is no separate Canada fund that is exempt from the Canadian withholding tax. I apologize for not explaining this matter more clearly earlier. You’re definitely not being a “Tüpflischisser” 
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You’re not locked forever 
Most people overthink the first allocation. If the platform lets you switch strategy internally, I’d just simplify and move toward the portfolio you actually want instead of opening portfolio number two and creating future confusion.
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