You must withdraw at least CHF 20'000 per WEF advance withdrawal from the Pensionskasse (or the entire balance if it is below this) – up to 3 years before ordinary retirement, at the earliest every 5 years. Two routes lead to home ownership: the advance withdrawal (payout, counts as soft equity, max. 10 %) or the pledge (Verpfändung) (the balance stays in the Pensionskasse, enables a mortgage of up to approx. 90 %). The advance withdrawal permanently reduces the retirement pension and triggers Kapitalbezugssteuer; the pledge preserves full pension protection but demands higher affordability. Basis: BVG Art. 30c and BVV 2.
The minimum withdrawal is CHF 20'000 (or the entire balance if below this). Up to age 50, the entire Pensionskasse balance can be withdrawn (mandatory plus extra-mandatory portion); from 50 onwards, the higher of the balance at 50 or 50 % of the current balance applies. Possible only for owner-occupied residential property (purchase, construction, renovation, amortisation), again every 5 years and at the latest up to 3 years before retirement.
In the model (savings capital CHF 200'000, advance withdrawal CHF 100'000, 25 years, Umwandlungssatz 5.30 %), conservatively at 1.25 % BVG minimum interest 2026 this results in around CHF 603/month less pension for life; at an optimistic 2.50 % interest rate it is CHF 819/month. With the statutory minimum Umwandlungssatz of 6.80 %, the gap would be CHF 773 or CHF 1'051/month respectively.
The pledge is financially almost always more advantageous, provided affordability is given. Example calculation over 30 years (CHF 100'000): advance withdrawal net –CHF 36'500 (Kapitalbezugssteuer –CHF 8'000, foregone Pensionskasse interest –CHF 81'000, saved mortgage interest +CHF 52'500); pledge net +CHF 28'500. Assumptions: Pensionskasse interest 2 %, mortgage rate 1.75 %, marginal tax rate 30 %. The advance withdrawal is primarily worthwhile when the 20 % equity threshold would otherwise not be reached.
The advance withdrawal is taxed as a capital benefit separately at a reduced rate – around 5–10 % depending on canton, amount and marital status. Benchmark figures 2026 (single) at CHF 100'000: Zurich CHF 6'200, Bern CHF 7'000, Aargau CHF 5'800, Lucerne CHF 5'000, Zug CHF 4'200, Schwyz CHF 3'800. The pledge triggers no Kapitalbezugssteuer, as the capital remains in the Pensionskasse.
Voluntary repayments are possible at any time from CHF 20'000. The Kapitalbezugssteuer paid back then is refunded proportionally – but only within 3 years of repayment and in the same canton. The repayment itself is not deductible from taxable income. It thus has a double effect: it closes the pension gap and reclaims the tax once.
Säule 3a balances count – unlike the Pensionskasse advance withdrawal – as hard equity and can be fully withdrawn per account (every 5 years, Kapitalbezugssteuer due). Maximum contribution 2026 with a pension fund: CHF 7'056 per year. Recommendation: first deploy the third pillar, then the pledge, and the advance withdrawal only if the 20 % threshold is otherwise unreachable. Strategy: withdrawing 4–5 separate Säule 3a accounts in a staggered manner reduces the progressive tax.