That is, of course, making the assumption that you invest in the right equities. That's a mighty big assumption - an awful lot of people lose money on the markets. The pillar 3a and its tax benefits may be appealing to (non-US) people who are risk adverse.
On the assumption a pension is a 20 - 30 year investment, just buy the market.
People only loose money on equities as they keep trading, they buy for inflated prices & sell as soon as the market wobbles. Even with Peter Lynch Magellian fund that rose 29% compound for 20 years, the vast majority of his investors lost money as they never held the fund, just kept buying & selling trying to beat it.
Even a UK pension I have £5k invested between 1983-1990 is worth 9 times what I invested today. I would be surprised if its worth less than 20 times investment at age 60, possibly 30-40 times investment aged 65.
In those days the first 2 years contributions were taken as charges.
If you invest in a risk averse manner, you won't have much of a retirement fund at all.
Unfortunately you definition of large percentage is different from mine. I don't see more than 50%, I would want not less than 90%.
I guess this is a moot point, I have already retired at 52, based on equities invested outside any pension schemes. I can't use any of money in pensions to live on at all!
Most people will not be investing in the stock market with their 3a money but using the variant which is essentially a savings account with 2% interest. With that you may well have a tax advantage - leaving aside the question of investing in stocks being a better idea in the first place.
The income will be taxed and you do have to check to see how much tax you have to pay. I believe that pension plans are taxed the same as your salary income, which is the highest tax bracket, 25-40%. Check on that before you move your money. Best to talk to a a Swiss accountant who knows the tax laws before you do anything. Why ask the bank for advice? That is like taking water to the ocean. Increase your own financial intelligence and do not depend on banks, pension fund managers, money managers, or wealth managers to guide you. Their goal is to get your money and make it work for them - not for you.