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3a account vs. 3a securities account
Figures as of 18.10.2026
Inputs changed – please recalculate.
Result
| 3a account | Index low | Index mid | Index high | |
|---|---|---|---|---|
| Paid in | ||||
| Nominal end value | ||||
| Real end value (today's purchasing power) | ||||
| Change in purchasing power vs. amount paid in | ||||
Nominal end value
Real end value (today's purchasing power)
Assumption, lower than any documented long-term value since 2001.
The scenarios are not a lower or upper bound.
With a short horizon, a 3a securities account can also end in a loss.
If the account rate is below inflation, the balance loses purchasing power in real terms.
Real rate: −0.6 % per year
A 3a securities account can fall this far in a bad year: In 2022 a mix of 50% equities (MSCI World in CHF) and 50% Swiss bonds (SBI ESG Screened AAA-BBB, as an approximation) would have fallen by about 14.6% (rounded approximation). Equities alone lost about 44% in 2008.
On CHF 100'000 that is about CHF −14'600.
The largest decline of the MSCI World in CHF was 58.8% (June 2007 to March 2009).
Model calculation with fixed assumptions, the same for everyone. Not investment, tax or legal advice, and not a recommendation of any product or provider. Past returns are not a reliable indicator of future returns. Securities fluctuate and can lose value for years, including shortly before withdrawal. Account interest rates and costs change constantly. Inflation is an assumption, not our forecast. Sources and assumptions: Sources and assumptions.
Sources
MSCI World (CHF), net, public factsheet, as of 30.09.2026. 6.38% p.a. over 20 years to 30.09.2026: our calculation from MSCI data. No monthly series.
Swiss bonds (SBI ESG Screened AAA-BBB, as an approximation). 2022 mixed figures: rounded approximation.
Account-rate range: moneyland (15.10.2026) and Evaluno (02.10.2026), only as the source of the range. No table.
Further references: FSO CPI (01.10.2026), SNB (24.09.2026), SIX (16.10.2026). Sources and assumptions.