by © motortion | Dreamstime.com The Swiss government has been looking at measures to shore up the finances of Switzerland’s pension system for some time. The difference between the official retirement age for women (64) and men (65) is an obvious target. Recently, the Federal Council, Switzerland’s executive, said it would include increasing the retirement age ...
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© motortion | Dreamstime.com
The Swiss government has been looking at measures to shore up the finances of Switzerland’s pension system for some time.
The difference between the official retirement age for women (64) and men (65) is an obvious target.
Recently, the Federal Council, Switzerland’s executive, said it would include increasing the retirement age of women from 64 to 65 in a package of reforms aimed at reducing the financial strain on the nation’s pension finances, something made urgent by the large number of baby boomers entering retirement.
Increasing the official retirement age of women is expected to save CHF 10 billion, according to RTS.
At the same time the Federal Council said it would aim to spend CHF 700 million over 9 years to help with the transition. Some of this would be spent encouraging women who would continue to qualify for retirement at 64 to work until 65.
The Federal Council will present a more detailed plan before the end of August.
Tags: Editor's Choice,Featured,newsletter,Pension reform Switzerland,Personal finance,Politics