3a with ZAK with 1.25% TER

Has anyone tried the new 3a offer from Zak? It’s TER is a tad high

Why would anyone try this service? It’s miles away from what Finpension 3a and VIAC are providing.


Obviously this is not an offer for people who are active on this forum, but maybe for some who are reading.

If you want to go for simplicity and have everything at the same provider, this is not the worst offer out there.

Not everyone is out to save the most fees they can. Since 3/4 of 3a money is still on normal bank accounts, this would already be a massive improvement for most.

3a with ZAK with 1.25% TER

Not sure if the TER really is 1.25% … in one of their product sheets they state:

Verwaltungsgebühr p.a 0.97%
Laufende Kosten p.a. 1.25%

So IMO the TER seems to be 2.22% or in other words, the TER of 1.25% has a hidden fee of additional 0.97%. Looks to me like a legal form of robbery, in any case.

No, 1.25% “Laufende Kosten” are the ongoing charges and should include everything. The 0.97% management fee is the largest part of the ongoing charges, the remaining 0.28% are for transaction costs and similar expenses.

However, I agree, it’s still not a competitive offer given VIAC, finpension and frankly exist. You’d have to be very convinced of ZAK’s active management outperforming passive investments (and also frankly’s active management) to choose this.

“Nachhaltig Einkommen” is especially bad, 1.25% TER for a fund with 20-30% equity. At VIAC you’d only pay about 0.2% (to be fair, only if you choose cash over bonds, with bonds it would be 0.45%).


Okay thanks for the clarification. Yeah 1.25% for 30% equity max is really massively overpriced.

Not sure if it’s worth to choose anything else than max equity in any of those apps at the moment as interest rates are so low for the time being compared to the fees of those products.

As always, it depends on your risk profile. If you’re nearing retirement, or want to withdraw it and spend it on a house or in a self-employed venture, it makes sense to lower your exposure to the stock market.

I’m planning on purchasing a home in roughly a year and using 3a funds for part of it, the 3a money I’m dedicating to it is invested very conservatively because I want that money to be there when I’ll need it and the market could very well drop in the next 12 months.


Yes, that’s right indeed. Good point.

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