Pillar 3 is the voluntary privately managed pension, i.e. the money you voluntarily accumulate for your future pension. 👍

In this scheme, you can contribute both as an employee - on your own and through your employer - on your behalf as a form of additional benefit. 

The monthly contribution to the voluntary pension is tax-deductible up to a maximum of €400 for the employee and fully tax-deductible for the employer contributing on your behalf. 

The money contributed to your voluntary pension is in your name and only you can dispose of it. 😮