According to study from the University of Applied Sciences Northwestern Switzerland, the 3rd pillar owns a capital importance specifically among the youth. It also emphasizes on the differences between the regions of Switzerland, the age ranges and the savers' genders.
When it comes to welfare, there is not much of a difference between men and women – 42% of women compared to 47% of men – but rather in the savers’ age range. Indeed, 55% of those under 35 years of age have already chosen a private welfare solution, and this before their 25th anniversary. This can be attributed to the lack of confidence from young generations towards the 1st and 2nd pillars. It is also important to note that the 3rd pillar saving, very attractive on the fiscal plan, is only available since 1972.
Among the panel of possibilities given to the savers, making a choice can prove difficult. Should one opt for a banking solution, meaning the opening of a specific bank account for the 3rd pillar, or rather go for a insurance solution, such as a life insurance? Then, when you chose the banking solution, a new choice is made available to the future savers : should one save in cash or bonds? however, this second option remains rare, with only 33% of those above 55 years of age and 12% of those under 35 years. The risk to saving with bonds could explain the reluctance of the younger, even though this strategy can prove more profitable in the long run.