Basically, no. A fee of CHF 300 will only be charged in the event of early withdrawal in the context of home ownership promotion, unless the financing is provided by WIR Bank.
No. The custodian bank's custody fees are already included in the VIAC administration fee of 0.52% p.a. (at most 0.44% p.a. due to the fee cap).
Click on the function element "Profile" and select "Documents". Under "Transaction documents" you will find all charges.
No, none of the companies receive any kind of refunds, commissions or retrocessions.
No, you don't pay an administration fee on the cash part. The administration fee of 0.52% (at most 0.44% p.a. due to the fee cap) is only charged on the invested portion of your pension assets. Your retirement savings account is currently bearing interest of 0.1%. This interest rate is slightly lower than with the classic 3a account of WIR Bank, the "Terzo Konto".
The reason for this is that we do not want to invest our clients in bonds in the current low interest rate environment under any circumstances, as these are currently yielding a negative return after costs. In addition, bonds carry the risk of losses if interest rates rise. With the slightly lower interest rate, we were able to find a good solution with the WIR Bank, which allows everyone to benefit. Our clients have a positive return, pay no fee on the cash portion (a bond investment would be charged) and avoid interest rate risks. For its part, the WIR Bank can attract these funds at a slightly lower price and thus also benefits. Last but not least, we are happy to be able to offer our clients a guaranteed positive return on investment. A classic win-win situation!
PS: If someone wants to optimize further, you can only make the part of the contribution that you want to invest in equities and then choose the Global / Switzerland / Global Sustainable 100 strategy. The share that you then want to hold in cash can be invested with the bank of your choice; for example, in the classic Terzo account. Unfortunately, however, this is accompanied by a little extra effort and the pure equity exposure will then of course fluctuate much more - this would always have to be considered on a consolidated basis.
The VIAC management fee is calculated monthly on the basis of the average invested assets. No fee will be deducted from the amount in cash. The fee will be debited from your retirement savings account at the beginning of the following month. This does not require the sale of shares in index funds or ETFs, since part of the pension assets is always held in the interest-bearing cash account.
Yes, usually there is a fee. Our goal though is to keep any foreign currency exchange as little as possible through VIAC's intelligent calculation system. Thus, in the best case, the fee is at 0% when the purchases and sales of foreign currencies during rebalancing cancel each other out across all customers.
Should the purchase and sale volumes not be identical, the foreign currency fee is only charged on the difference that is actually traded - more information on the settlement system can be found here: Academy. The resulting costs are then distributed proportionately among all customer orders.
Experience shows that, depending on the strategy, one-off costs of a maximum of 0.20% (e.g. Global 100) could occur. Here an example: 60% foreign currency share x 0.3%, whereby the 0.3% corresponds to the effective optimized foreign currency fees for the months June, July and August 2020. Without internal settlement or optimization which VIAC carries out in the interest of its customers, the premium charged by the Bank would be 0.75%. Therefore we pass on 100% of all cost advantages directly to our customers.
Historically and over the long term, the annual average cost of all strategies is less than 0.05%. With other providers, these fees are usually hidden and not disclosed to the customer. They are for instance not included in the TER of a fund. Hence the name "Total Expense Ratio" is misleading as foreign currency hedges, which cause recurring / running costs are also not included in the TER. However, especially in long-term pension plans, such recurring costs are much more important than a one-off fee for the foreign currency exchange.
In case of the index funds and ETFs used, costs of 0.025% on average per year (standard strategies) are incurred within the funds. These product costs are included directly in the index fund or ETF prices. Including the administration fee of 0.52% (at most 0.44% p.a. due to the fee cap), the total costs for a fully invested strategy are less than 0.47% (investment focus: Global and Switzerland). As a result, our product is up to 3 times cheaper than comparable competitor products.
The VIAC administration fee is 0.52% per annum (at most 0.44% p.a. due to the fee cap) on the invested pension assets. There is no administration fee on the cash portion. The administration fee covers the trading costs and the fees paid by the custodian bank for cash account and custody account management. This fee also includes all foundation administration fees, technology deployment and support. There are no transaction costs, retrocessions or other commissions.