Solutions for insurance and pension provisions for independents
Social security for independents is different to that of employees. Indeed, you are not subject to the same legal obligations, such as contributing to a Pillar 2 (LPP) or subscribing to accident insurance (LAA). However, should you be unable to work, you still have to be able to maintain your income. Maintaining your standard of living will also become a priority when you reach retirement. Swiss Risk & Care offers you financial planning that can provide fiscally interesting solutions that are tailor-made for you.
These insurance and pension provision products are destined to all those who have an independent activity: lawyers, doctors, paramedical therapists, fiduciaries, asset managers, etc.
Loss of earnings insurance: negotiation of an insurance amount
Loss of earnings insurance is essential as it guarantees that you will receive an income if you are unable to work due to either illness or accident. A choice of two models is available: insurance for damages and fixed sum insurance; fixed sum insurance is the best solution when you are starting out in your profession as the daily indemnities are paid no matter what the actual salary lost (less at the beginning of an activity, more later on).
Fixed sum insurance is not intended to compensate for an economic loss, unlike insurance for damages, but to cover a need, such as the payment of your fixed expenses (your office rent, your secretary's salary, your IT infrastructure, etc.).
Our experts are at your disposal to help you to negotiate a fixed sum insurance, to decide on the daily amount required and the waiting period.
Optimising your pension provisions and taxation
As an independent, you must manage your pension provisions. Your mandatory contribution to the AVS will not suffice to maintain your standard of living when you retire.
The optional Pillar 2 is one of the best solutions possible for pension provisions for independents. It has numerous advantages:
- Consolidates your income at retirement
- Protects your family members in case of death
- Protects you in the case of disability
- Allows you to take advantage of considerable tax reductions throughout your working life
However, the access conditions for a Pillar 2 are restrictive and may discourage many. With the help of your broker, it is no longer mission impossible. Swiss Risk & Care can offer you solutions for pension provisions that are specially formulated for independents, particularly for the medical and legal professions.
While the Pillar 3 does not afford as many tax advantages as Pillar 2, it can however allow you to increase your retirement savings while reducing your taxes. If it is concluded with an insurance, it will also provide death and disability coverage. The Pillar 3 can be added to the Pillar 2 if you generate a large turnover. Cumulated, they will allow you to better prepare your retirement.
Retirement is a pivotal point for everyone, and it is better to prepare for it fully in order to ensure a smooth transition. Swiss Risk & Care has the competence and savoir-faire to provide you with support for the key points of this preparation:
- Synthesize your future income from social security (Pillars 1 and 2) and your other assets amd investments (Pillar 3, banking products, real estate, etc.)
- Analysis of your retirement needs
- Proposal of adapted and fiscally advantageous financial solutions
Pension or capital ?
Should you choose a pension or capital? If you choose to take the capital (or if you do not have the choice, as the pension funds in certain sectors only provide for capital), it is wise to use a part of your assets to provide a pension (annuities, term-certain annuities) in order to cover you fixed expenses, but also to take advantage of tax reductions.
Our experts undertake to find you the best solutions and can, in the framework of an investment strategy (real estate, shares, etc.) put you in touch with our network of partners.
Our financial planning methodology is also applicable to your working life.
- Pension provision solutions that optimize taxes
- Insurance and pension provision products that are designed for your independent position
- Attractive rates negotiated by your broker
- Advice from experts who are aware of the specifities of your profession
The system of insurance for loss of earnings in the event of illness needs to undergo a full overhaul.Read more