I don’t see it. It’s like a very long term time deposit. And you can withdraw it if you leave Switzerland or buy a home. You can’t have it at the age of 50, but you can at the age of 60. If you don’t track it then one day, at the age of 60, poof, you’re suddenly 100k richer (probably much more).
I think that’s better than accounting for it at the 6% which might go down to 3-4% by the time we retire.
Just count it as an asset that will vest/mature when you’re 60.
I wouldn’t withdraw it with 60. Better to keep it invested without taxes as long as possible. If you stop working at 50, I would invest it with ValuePension or Viac. Even if it’s not part of your available assets for another 20 years, it’s still there. 2 million in IBKR and 1 million in 2nd/3rd pillar still gives you a “SWR” of 120k/year, even if you just use IBKR at the beginning.
That’s my plan anyway. Withdraw 3a with 61/62/63/64/65 and 2nd pillar with 69/70. Most people on Bogleheads postpone SS (AHV) till 70 to get more. It’s a plan B if you live way longer than expected, to make sure your portfolio lasts even 50 years. But I’ll decide that once I’m >60.
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So you’d count it as bonds (safe asset, low, guaranteed yields) and part of your net worth that would become invested with early retirement in a vested benefit account (ValuePension, Viac or similar) ?
I’ve actually been pondering it too and went with two metrics: net worth and actionable worth (net worth minus 2nd pillar, 3rd pillar and primary home when I’ll have one (that one counts toward lowering my costs).
Your way to see it makes sense (that your 2nd pillar becomes available as investable asset if you early retire or launch your own venture). I could see myself implementing it as using my net worth as my main metric and considering 2nd pillar as bonds, 3rd pillar as whatever assets it’s invested in and primary home as real estate generating an income of its eigenvermiet annual value (while that value would be added to my expenses).
Thanks for the insight!
ETA: to make my reasoning more clear: I’ve been stuck with the thought that if I count my primary house in my net worth (that I use to evaluate if I’ve reached my FIRE number) and calibrate my retirement expenses without a rent (which I use to calculate my FIRE number) because I own a house in which I live, then the house gets counted twice. If I have to sell it to get an income out of it, then my expenses go up and I would not have planned for that. Since my plan was to use my 2nd and 3rd pillar to finance the house, they went in the same basket.
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