The answer is YES. Whether The 3th Pillar A or the 3th Pillar B, it is legal to have several within the limits of the law. The nuance starts with taxation, where the multiplication of the 3Memes Pillars A may lead to different taxation at the end of the year from one canton to another.
The law
The law is very clear about the number of 3th pillars possible. There are no quantity limits. However, there is a maximum total annual amount of CHF 7,258.- for employees and CHF 36,288 for the self-employed for the cumulative pillar 3A. There is no ceiling for the 3th pillars B. For the latter, the companies themselves set maximum amounts.
Taxes
Possess several 3Memes Pillars A or B is not in itself a problem for taxes. However, the 3th Pillar A has a final capital tax that requires the tax offices of the various cantons to make nuances. In fact, the tax on final capital is progressive. This means that the higher the term capital, the higher the tax rate. This rule prompted people to have a multitude of 3th pillar A in order to receive capital over different calendar years and thus benefit from better general taxation.
The different cantons have therefore put rules but without limiting the number of 3th Pillar A. They restricted the division of final capital. Most cantons limit them to 3. Beyond this number, they pool the capital and tax it together.
A more specific article on The taxation of the capital of the 3th A pillars exist here
The yield
Beyond tax laws and rules, it should not be forgotten that dividing an investment tool very often hurts the return on the solution. This is almost always the case in insurance and frequently in banking.
Indeed, solutions often have fixed costs and variable costs. Having 2 solutions rather than one doubles the fixed costs and therefore breaks the return.
Diversification
Diversification is often the reason for the multiplication of the 3th pillars (beyond taxation). It allows you to bet on several financial institutions and also to take advantage of several different investment vehicles. Depending on your profile, a mix of solutions is beneficial.
It also allows you to benefit from the advantage of a mix of 3th pillars between banking and insurance according to your final objective.
Conclusion
You have to find the right balance between what the law allows, what taxes allow, the return you want and the diversification you want. Depending on your canton of residence, the rules are different and tailor-made advice must be drawn up.
