Swiss robo-advisor True Wealth has emerged as the provider of the cheapest online Pillar 3a product in Switzerland that combines a large stock component with a broadly diversified portfolio, according to new research by online comparison service Moneyland.ch.
The Moneyland.ch study, which compared the costs of online Pillar 3a asset management services over a ten-year term with a monthly payment of CHF 500 (US$619), or a total of CHF 60,000 (US$74,000), found that True Wealth offers the cheapest digital retirement savings solution. This portfolio, offering significant equity exposure and diversification, carries a total cost of CHF 424-635 (US$525-786) over a ten-year period. This cost includes both the asset management fees charged by the service provider, and the product fees charged for the investment products used.
True Wealth offers fully automated investment management using globally diversified portfolios of low-cost exchange-traded funds (ETFs), tailored to each client’s risk profile. Founded in 2013 and based in Zurich, it provides both regular investment accounts and Pillar 3a solutions, claiming approximately 35,000 customers, and over CHF 2 billion (US$2.5 billion) in clients’ assets under management (AUM).
Switzerland’s pension system
Pillar 3 is one of the three components of Switzerland’s pension system. It represents voluntary private savings, and is encouraged through tax incentives, allowing individuals to make additional provisions for retirement, disability, or death.
Pillar 3 consists of two parts: Pillar 3a is the tied pension provision, offers tax advantages, with funds typically placed in savings accounts, investment funds, or insurance policies; while Pillar 3b represents flexible pension provision with no tax benefits but also no withdrawal restrictions.
The other two pillars comprising the Swiss pension system are Pillar 1, which is the mandatory state pension financed through payroll contributions shared by employers and employees, and Pillar 2, which is the mandatory employer-based pension funded jointly by employers and employees through pension funds.
Lowest-cost online Pillar 3a solutions in Switzerland
While True Wealth is recognized as the provider of the lowest-cost, equity-focused Pillar 3a product in Switzerland, the Moneyland.ch study notes that, in absolute terms, the cheapest online Pillar 3a product is actually offered by LibertyGreen, with total costs of CHF 303 (US$375) over the 10-year term. However, this particular offer includes only a stock component of 25%. LibertyGreen portfolios with higher stock allocations can cost up to CHF 1,150 (US$1,422), placing them among the more expensive options.
LibertyGreen is a solution launched in 2021 by Liberty Pension (Liberty). It’s “the first green Pillar 3a” product in Switzerland, investing with a special focus on environmental, social and governance (ESG) standards.
Following True Wealth and Liberty Green is Viac. This provider actually pioneered online Pillar 3a asset management, launching Switzerland’s first Pillar 3a robo-advisor in 2017. For a CHF 60,000 investment over ten years, Viac’s total costs range from CHF 484 to CHF 1,331 (US$599-1,648).
Viac is a Basel-based fintech company offering low-cost, fully digital solutions for retirement savings and investing. It claims more than 100,000 customers, managing assets of approximately CHF 4 billion (US$5 billion).
Most expensive online Pillar 3a asset management solutions
At the other end of the spectrum are Liberty, Radicant Bank, and Selma, with total ten-year costs of CHF 2,390-3,267 (US$2,958-4,045), CHF 2,571-2,783 (US$3,183-3,446), and CHF 2,597 (US$3,215), respectively.
Founded in 2005, Liberty is a provider of comprehensive and modular pension solutions in Switzerland; Radicant Bank is a digital sustainability bank and a subsidiary of Basel Land Kantonal Bank with 18,000 customers; and Selma is a personal investment assistant helping its 15,000 clients invest and manage their finances based on personalized financial planning.
Though these offers are among the most expensive online options studied by Moneyland.ch, they remain significantly cheaper than classic retirement funds managed by traditional banks, which can cost between CHF 3,000-5,000 (US$) for the same invested amount over ten years.
Pillar 3a is one the preferred way for the Swiss to hold and invest their wealth. According to a 2025 Moneyland.ch survey, 61% of the 1,500 Swiss residents polled use a Pillar 3a account and 52% use a Pillar 3a investment solution. This places Pillar 3a solutions ahead of real estate (43%), life insurance (42%), and stocks (42%).
These findings are consistent with results from a Migros Bank study, in which 58% of the 1,521 Swiss residents surveyed reported investing their money in a Pillar 3a product.
Featured image: Edited by Fintech News Switzerland, based on images by michelangeloop and rawpixel.com via Freepik
