Taxed again in Portugal when withdrawing Pillar 3a?
I’m Portuguese, currently working in Switzerland, and considering maxing out my Pillar 3a (Finpension, 100% stocks) mainly for the tax benefits. I earn around 100k/year and, since I have more than 80k in assets, I now need to do a full tax return.
Let’s say the plan is to return to Portugal in ~5 years.
From what I understand, when withdrawing the Pillar 3a, Switzerland charges a relatively low withdrawal tax (~5%)
My question is:
If I withdraw the Pillar 3a before or around moving back to Portugal, would Portugal tax that money again? Or does the Switzerland-Portugal double taxation agreement avoid this?
If Portugal taxes it again, it almost feels like the 3a may not even be worth it for someone planning to leave Switzerland after a few years.
Would appreciate insights from people who actually went through this or spoke with a tax advisor.