What does Pillar 3 mean?

Pillar 3 is the optional privately managed pension, meaning the money voluntarily accumulated by you for your future pension. 👍 In this system, you can contribute both as an employee - on your own account, and through the employer you work for - in your name, as a form of additional benefit. The monthly contribution to the optional pension is tax deductible, up to 400 💶 euros for the employee and fully tax deductible for the employer who contributes on your behalf. The money contributed to the optional private pension is in your name and only you can dispose of it. 😮