You wanted to transfer them to another pension foundation, not to withdraw. So not relevant here I guess.
Well OK but Iāll have to withdraw when Iāll be close to standard retirement age, no ?
You might also think about the life insurance component. If you die before retirement, your wife will get a pension based on the value of your pension savings. Her pension wonāt be helpful in this case. As usual, check precise conditions of your plan.
P.S. my assumption that your wife might need an additional financial support in this unlucky case is based on numbers that you presented, not on gender stereotypes
Yes, but I donāt see how the order you fill pension plans now is relevant.
Iām not invested at all in bonds atm (beside P2) so yes I would count this as an increase of the bond portion of my portfolio.
The idea is to try to reduce a bit the tax burden for the next few years (Iām currently at the peak of my salary expectations) so - as of today (we know, plans changeā¦ ) - Iām considering the possibility to put into P2 20k / year for the next 5-6 years, then move them to a vb account, maybe turn them into stock and consider to turn into bond/cash a portion of the taxable portfolio (but weāll have to see by then how the market situation will be)
However, beside the general strategy my question was more related to which P2 should I start to fill
Well my plan today is to fill the whole gap i.e. ca. 120k (combined) so 20k/y for the next 6 years.
But as we know plan do change so if I later decide to stop contributing I might be better served if I start with my wifeās P2 (which is lower).
I just donāt know if there are other factors which I should consider
Have you seen this?
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Yes. This is something I might consider indeed even if it is something I hope wonāt materialize (letās touch wood).
Iāll check the conditions before leaving my current P2.
However this does not exclude the buybacks thing, no ?
No. What I meant is if your wifeās potential pension depend on the value of your pension savings, which is probably the case, then I think it is better to fill your pension plan first.
Ah ok, now I see your point, thanks.
I was simply not considering the scenario of me passing away within the next 6 years!
Donāt worry. I just donāt see any other factor that would affect the preference for filling one pension plan or another.
Looking solely at pillar 2 taxes, filling up your wifeās pillar 2 first would probably make sense. Withdrawals by spouses are added together in a year but your wife could withdraw in a different year.
However, withdrawal from pillar 3a in the same year is added as well. As the number of years over which you can spread out pillar 2 and pillar 3a withdrawals is limited, you need to take both pillar 2 and pillar 3a into account to minimize the overall withdrawal taxes.
Itās worth checking your pension plan for this, Iāve only had 2 second pillar providers in my work life but in both cases the widow pension was not based on the pension savings but on the insured salary (which would mean the additional contributions donāt have any effect on the widowās pension).
I checked the rules of my pension foundation and it clearly says that both the disability rent and survival benefits depends on the amount of money saved.
Given that last year my pension foundation have credited me an average interest rate of just below 3%, I think I will not withdraw my second pillar before I am 60 or so.
Did check mine and they state something similar, however the formulation is quite unclear and I wasnāt able to reverse-engineer the rule starting from the examples they provide !
However it does not seem to impact that much the expected yearly amount (widowās pension) so I wonāt consider that as a crucial factor in my reasoning