How to know how much is in the 2nd pillar?

[CPMB]

Friends,

Simple question, which I know the precise answer isn't simple : how to determine how much money we have gathered into the 2nd pillar ?
Maybe there is a calculation, based on the age and salary, that allows to get an approximation, to prepare a real estate investment.

Thanks.

 

[Baptiste Wicht]

Hi

It's actually fairly simple, just ask your pension fund
At least once a year, you should receive a statement from your pension fund. And this statement will indicates exactly how much is in your second pillar, no need for any approximation.

 

[CPMB]

Thanks for your answer Baptiste, sure, that works to know the amount as of now.

Sorry I wasn't clear enough: I meant to determine in X years how much I'll have gathered there (for a real estate project).
I remember that the mandatory minimal rate changes according to the age, and then it's a personal decision to put more or not. And I believe that the employer doubles it, but I'm not sure if it doubles only the minimal rate, or more if more is put in. Also, I do not know the yield of the 2nd pillar pensions funds, I guess that depends.

 

[Baptiste Wicht]

Then, it does become an estimation.

You need to know how much you and your employer contribute each month. The minimums are set by law for several age groups. But your employer can do better, so you have to find that out yourself. You could ask the employee representative.

Once you get this, you will know exactly how much goes into the pension fund each month. As for the yield, you have a few choices:
* Take the legal minimum of 1% (on the mandatory part).
* Take the average returns of your pension fund for the last few years if you can access that information.

Once you have these two information, you can use a compound interest calculator to estimate how much you will have in X years.