Supported mode
Select the risk level "0 = Cash without risk".
Saving with a pillar 3a account
There are times in your life when you don’t want to take any risks. This may be due to investments you have planned in the near future (e.g. purchasing a property), because you are about to retire or because you are unwilling to take risks in general. In cases like these, frankly offers the 3a account with interest on your cash assets.
The advantages of a pillar 3a account in cash:
- Even if your pillar 3a assets are not invested in securities, you still benefit from the effects of compound interest in the long run.
- You can avoid the risk of making big losses as a result of an equity market downturn. This can be especially relevant if you are coming up to retirement age or you want to use your pension assets in the near future, e.g. to purchase property.
- You will not pay any fees on your frankly 3a cash assets.
The current interest rate - pillar 3a account
With the frankly 3a account, you currently receive an interest rate of 0.25% on your cash assets.
How do I open a pillar 3a account with interest?
Download the frankly app for free or register for frankly online. Then open frankly and select the risk level “0 = Cash without risk“ in the «Open an account» stage in Independent mode.
In Self-employed mode, go to the “Cash“ tab. Now you can simply make a deposit and receive a interest rate on your cash assets.
Independent mode
Go to the "Cash" tab.
Are you already a frankly client and invested in securities?
Do you want to play it safe and save with your pillar 3a in cash? If yes, simply change your investment mode to “Independent“. As soon as you sell your securities afterwards, your pension assets will automatically be held in cash and earn interest.
Can I combine investment products with a traditional 3a account solution?
With a 3a account, you have the option of investing some of your assets and holding the rest in cash. Alternatively, you can open several pillars and choose a different investment strategy for each pillar 3a depending on your life situation.
For example, in five years’ time you might want to withdraw your 3a funds early to finance buying a property. For this reason, you decide in favour of a low risk level or to keep your pillar 3a in cash. At the same time, you can open a second pillar 3a for your retirement planning and choose a higher risk level of 3, for example.
