Can I specify who will receive my pillar 3a savings if something happens to me?
To some extent. The beneficiary designation is regulated by law and follows a fixed order. However, you do have some flexibility within these guidelines.
Legal order of beneficiaries: In the event of your death, your balance does not form part of the inheritance but is paid out directly in the following order:
Spouse or registered partner
Direct descendants, dependants or life partners (under certain conditions)
Parents
Siblings
Other heirs
What you can decide yourself:
Name a partner as a beneficiary: If you are not married, you can include your cohabiting partner – provided you have been living together for at least five years or have children together.
Adjust shares within a group: In the second group, you can determine the distribution yourself (e.g. 100% for your partner).
Change the order of secondary beneficiaries: For parents, siblings and other heirs, you can adjust the order or designate a charitable organisation.
What you cannot change: Spouses and registered partners always come first. You do not have complete freedom of choice.
Important: For your arrangements to be valid, you must notify the pension fund in writing.
