HELP! Troubles with my 3rd pillar Helvetia

Hello guys and happy national day to everyone.

I need your help. I put myself in quite a bad situation by signing a third pillar contract with Helvetia (please don’t judge me). In fact, in 2020 I just finished my degree and I was looking for the best way to save money. At this time, I went to Helvetia for a car contract insurance and the broker caught the opportunity to present me with their 3rd pillar plan.

Simply put, the broker lied to me and I trust him. As a result I signed a contract with the maximum amount at the time (6826.-). He told me that it was very flexible, that I can stop it at any time, that I can change the amount whenever I want, that I will always win, and it’s the best way to secure wealth…

Almost two years later and after reading several interesting posts here, I wanted to go with a different approach (VIAC) and it’s at this moment that I realize that my broker F***ED me up.

I contacted the broker and after a few minutes I understood that if I end the contract, I will lose the totality of the amount that I paid so far (2x6826.-)… However, I could reduce the amount that I’m paying from 6826 to 1200.- without any fees (At least it’s what he told me). I was of course more interested in the second option so I requested a simulation of my contract with this new amount which he told me that it was possible. This process started to take quite a lot of time and my broker was always making up excuses.

At some point, I decided to call the hotline of Helvetia to explain the situation. The guy on the phone asked me if I was really sure to do that since I will lose a lot of money with any changes in the contract during the first 3 years. In fact, he gave me the formula below that simply explains the lose that I will have

Years paid * (6826 - 1200)*X = Money lost (X is the percentage of the amount that will be lose but unknown)

For that reason, I sent a first mail to Helvetia requesting several information regarding those changes and the fees. For this first mail, they simply responded that it is possible to change the amount every month and that they will invest accordingly.

This letter was a bit too simple for me so I wrote a second letter asking again if there are any fees for the process and if so which is the amount. Here again they write a simple letter telling me that for any change in the contract there will be fees without telling me the amount or any formula…

Since my broker told me that there were no fees and I have several messages from him (on WhatsApp), I wrote a third mail to Helvetia with some messages from my broker. I asked how we can solve this problem since my broker lied to me. So far I have no response (but it’s been less than a week).

Note : The broker is an official employer from Helvetia.

Is there someone here who is familiar with those 3rd pillar from Helvetia and knows which is the best way to end them ? Do you know if there is a way to end the contract without any loss since my broker lied to me ? (I only have the proof for the fees and simulations…)

I already quickly discussed with my lawyer on Friday and she will carefully have a look at the contract, mails and messages next week.

One more detail, I also realized that after a year (from 12/2020 to 12/2021), the amount was 4516.- which is this lower than pessimistic scenario given by Helvetia. This is very strange because 2021 don’t seems to by a bad year for me

Thanks in advance for your help.

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Hi,

Sorry for your losses.
You can search many messages with people that had the same issue as you went through without understanding and reading properly the contract.

You should close your contract, take the 2 years loss and start fresh from Viac.

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If you can prove that he was deceiving you, it may be possible to void the contract and get your money back (Rückabwicklung). I have no idea how realistic this is. As you’re already in contact with a lawyer, she should be able to provide a better answer.

See OR Art. 28

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Thanks a lot for your feedback. I’m just wondering if canceling the contract right now is a good solution since I already paid over 10’000.- and I will lose everything. However, if I change the amount from 6826.- to 1200.- I still can get something when the contract will make 3 years but I have no details regarding this amount…

Someone has an idea what it the math behind this change (With Helvetia ideally)?

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I will report as soon as I have news. She will have a look at everything next week but she quickly told me that is difficult to void a contract after a year. However, it might be possible find an arrangement since the broker sent me several message telling that there were no fees.

Do you know someone who could void the contract ? If so, was it over a year ?

Since you have enlisted legal help, I would leave that matter in her hands and do whatever she tells you to do. I’m no legal expert but cancelling now could have adverse effects on your chances to win back any money you’ve put in the contract if it comes to litigation or legal negociations. Or not. Your lawyer is the one who can tell you.

Meanwhile, what we may help with is gathering data on similar situations with Helvetia (to which I have nothing to contribute myself, unfortunately/fortunately).

It’s nice that you have chosen to fight back. I hope things will turn out for the best for you and will be thankful if you keep us up to date.

I think there’s very few people even at Helvetia that know exactly how these insurances work in detail, let alone how to correctly calculate the valeur de rachat.

You have to somehow escalate beyond first level support/operations.

It should be in your contract and their terms and conditions, shouldn’t it?

I mean, you didn’t post them, we don’t even know what kind of product exactly you signed up to. :man_shrugging:

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That’s true, there are “no fees” do to the change, however this will impact the “valeur de rachat”

Based on your table, it would be better to contribute in year 3 and cancel. You would get at least 50% of your money.

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