Bank 3a: maximum flexibility
With bank 3a (account or fund), you can adjust contributions yearly. Digital neo-3a (Viac, Frankly, Selma) offer fees below 0.5% — vs 1-1.5% at traditional banks. Compounded over 30 years, the gap is tens of thousands of francs.
Insurance 3a: security and protection
Insurance 3a combines savings with life cover: guaranteed final capital, death premiums included, disability benefits. Downside: long commitment (20-30 years), higher fees (1.5-2.5%), and early surrender often loses a large share of early-year premiums.
Identical tax benefit
Both offer the same tax benefit: deduction up to CHF 7,258 (employees) or CHF 36,288 (self-employed). The yearly tax saving depends on your marginal rate and canton. Bank vs insurance changes nothing here — only the savings and protection strategy differs.
Polia recommendation
For most workers (young, no kids, no heavy debt), digital bank 3a usually wins: flexibility, low fees, long-term performance. For families to protect or risk-averse profiles, insurance 3a is still relevant — but prefer a bank/insurance mix over all-insurance.