by Switzerland’s government is working hard to find ways to fix a looming state pension shortfall. © Sang Lei | Dreamstime.com Two politicians in the canton of Fribourg have decided to seek savings by attempting to cut lifetime government pensions granted after short stints in the job, according to the newspaper 20 Minutes. In some Swiss cantons, government leaders can work for several years and leave with pensions for life, a perk that Nicolas Kolly (UDC/SVP) and Romain Collaud (PLR/FDP) think is out of tune with the times. The rules vary by canton. Jura has done away with lifetime pensions for its leaders while the political road out of politics is still paved with gold in Vaud, Geneva and Fribourg. A member of the executive in Fribourg who has spent 10 years in government can walk out of
Topics:
Investec considers the following as important: Editor's Choice, Government pensions Switzerland, Personal finance, Politics, Swiss pension reform
This could be interesting, too:
Investec writes Switzerland ranked second in digital competitiveness
Investec writes Swiss wages set to rise in 2025
Marc Chandler writes The Dollar Remains Bid, While the Euro and Swiss Franc are Sold Through Last Week’s Lows
Investec writes Federal Council hopes to boost savings with pension change
Switzerland’s government is working hard to find ways to fix a looming state pension shortfall.
© Sang Lei | Dreamstime.com
Two politicians in the canton of Fribourg have decided to seek savings by attempting to cut lifetime government pensions granted after short stints in the job, according to the newspaper 20 Minutes.
In some Swiss cantons, government leaders can work for several years and leave with pensions for life, a perk that Nicolas Kolly (UDC/SVP) and Romain Collaud (PLR/FDP) think is out of tune with the times.
The rules vary by canton. Jura has done away with lifetime pensions for its leaders while the political road out of politics is still paved with gold in Vaud, Geneva and Fribourg.
A member of the executive in Fribourg who has spent 10 years in government can walk out of the job at 50 with a pension for life of up to 60% of their pay.
The pair bringing the motion estimate their change would shave CHF 4.2 million of this year’s cantonal budget.
In Vaud ministers get 35% of their salary for life after 5 years if they are not reelected and after 10 years if they quit.
In Geneva, ministers who hang on for 12 years and leave at 60 get 64% of their salary for life. Essentially, 12 years of work could deliver nearly 25 years of pay, assuming 20 years of retirement.
In some cantons ministerial salaries are just the tip of the iceberg.
More on this:
20 Minutes article (in French) – Take a 5 minute French test now