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The Pictet Individual Pension Foundation is intended for:

• Any person taxed in Switzerland whose income comes from gainful employment, whether dependent or independent, and who is subject to AVS/AI social security insurance;
• Any person wishing to improve the financing of his or her retirement;
• Tax payers who would like to take advantage of the tax breaks offered by the Confederation and the cantons;
• Any person who is already paying into to a 3rd Pillar A account or policy and who has not yet reached the statutory limits;
• Insured persons who already have a blocked 3rd Pillar A account and who would like to transfer their capital to another pension account.

Contributions to blocked pension accounts (3rd Pillar A) may be deducted from taxable income in accordance with law (art. 7 OPP3). As voted by the Swiss Federal Council, the maximum statutory amount one can contribute will increase over time as inflation rises.

2012 tax-deductible amount

All income from the account is exempt from income tax and are not subject to anticipated taxes at the Federal or cantonal level until the capital reaches maturity. Moreover, no wealth tax is levied on the capital until it is withdrawn from the account.

In the event of a withdrawal of capital, or in the even of death, the Confederation and the cantons will tax the lump-sum benefit as income, usually separate from other income, at a special rate or at the annuity rate.

Nevertheless, in some cantons, the cash benefits paid out to certain beneficiaries are subject to inheritance tax instead of income tax. They might also be subject to inheritance tax in addition to income tax.

The Pictet Individual Pension Foundation (3rd Pillar A) is a Swiss banking foundation which enjoys the special tax exemptions granted for 3rd Pillar pension schemes in Switzerland.

The Pictet Individual Pension Foundation was created on 1 December 1990 for the purpose of managing assets for investors' individual retirement savings under the so-called "3rd Pillar A" of the Swiss pension and social security system. The net assets of the foundation are allocated to different investment portfolios, each one being independent and non-consolidated with respect to the others.

The Pictet Individual Pension Foundation aims to achieve higher long-term returns than traditional blocked pension accounts by professionally managing the assets in the Foundation and taking advantage of all the investment possibilities allowed under Swiss law.

The Foundation allows for all the blocked pension capital to be managed globally and offers the following advantages:

• lower fees;
• greater opportunities of diversification (because of larger sums available);
• less overall risk as a result.

• "LPP/BVG-Short-Mid-Term Bonds",
• "LPP/BVG-Bonds",
• "LPP/BVG-25",
• "LPP/BVG-40".