actually we had banking secrecy instead of trusts ;-)Some rich people create Fou...

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actually we had banking secrecy instead of trusts ;-)

Some rich people create Foundations for non-profit or charity and live on managing it, but certainly not 3%

I guess your 3% are mostly retired people who saved their money on private trust funds. In Switzerland we have a mixed state/private Pension system that is a good comprise as we like them here.

From what I see here ( Retirement provision in Switzerland: What’s the situation with the pension system? ) about a third of swiss taxpayers (i.e. almost all citizens) have no private “third pillar”, so their retirement depends only on social (first pillar) and mandatory (second pillar) provisions.

Said otherwise, 66% of swiss people have some money on a private pension fund.