by Interior Minister Alain Berset at the press conference on Wednesday Keystone In summer 2019 the social partners agreed on a reform of the Swiss occupational pension scheme. The government on Wednesday adopted this compromise unchanged; the ball is now in parliament’s court. Occupational pensions have been under pressure for a while as a result of rising life expectancy and low interest rates. Following the rejection by voters of the pension reform in September 2017, the government tried again, focusing on the second pillar (based on occupational pension plans and accident insurance). The reform of the occupational pension scheme is intended to secure the pension level, strengthen financing and improve the protection of part-time employees and thus especially
Topics:
Swissinfo considers the following as important: 3) Swiss Markets and News, 3.) Swiss Business and Economy, Featured, Latest News, newsletter
This could be interesting, too:
Frank Shostak writes Assumptions in Economics and in the Real World
Conor Sanderson writes The Betrayal of Free Speech: Elon Musk Buckles to Government Censorship, Again
Nachrichten Ticker - www.finanzen.ch writes Bitcoin erstmals über 80.000 US-Dollar
Nachrichten Ticker - www.finanzen.ch writes Kraken kündigt eigene Blockchain ‘Ink’ an – Neue Ära für den Krypto-Markt?
Interior Minister Alain Berset at the press conference on Wednesday Keystone
In summer 2019 the social partners agreed on a reform of the Swiss occupational pension scheme. The government on Wednesday adopted this compromise unchanged; the ball is now in parliament’s court.
Occupational pensions have been under pressure for a while as a result of rising life expectancy and low interest rates. Following the rejection by voters of the pension reform in September 2017, the government tried again, focusing on the second pillar (based on occupational pension plans and accident insurance).
The reform of the occupational pension scheme is intended to secure the pension level, strengthen financing and improve the protection of part-time employees and thus especially women, Interior Minister Alain Berset said at a press conference on Wednesday. He said he hoped it would be the first successful pension reform in the 21st century.
The core of the social partner compromise is a reduction in pensions, which is cushioned by various compensatory measures. The minimum conversion rate at which the saved capital is converted into a pension is to be reduced from 6.8% to 6%. This would mean that 12% of the pension would be lost at a stroke.
A reduction of the conversion rate is inevitable – “nobody denies that”, Berset said. However, despite this widely recognised necessity a reduction of the conversion rate has failed several times at the ballot box.
Parliament should now “do everything it can to find a solution”, Berset said. The government was keen to work with the Senate and the House of Representatives on this “complicated business”, he added. However, Berset warned that the bill should not degenerate into a “self-service shop”.
You Might Also Like
SWISS slowly expands web of destinations from Zurich and Geneva
Swiss International Air Lines (SWISS) has published its flight schedules up to October 24, the end of the summer timetable. As well as resuming service to more network destinations, it plans to intensify its frequencies on routes already restored in both its short-haul and long-haul networks.
Credit Suisse settles U.S. shareholder lawsuit
Major Swiss bank Credit Suisse has agreed to pay $15.5 million (CHF14.6 million) to settle a dispute with shareholders in the United States, according to court filings on Friday.
Group challenges law behind Covid-19 tracing app
A committee has launched a referendum against changes made to the Epidemics Act to allow the introduction of the SwissCovid tracing app. The citizens say they’re concerned about data security.
Swiss banks eye Hong Kong clients for pro-democracy ties
Global wealth managers are examining whether their clients in Hong Kong have ties to the city’s pro-democracy movement, in an attempt to avoid getting caught in the crosshairs of China’s new national security law, according to six people with knowledge of the matter.
Swiss business raided over Fiat-Iveco ‘Dieselgate’ probe
Investigators have searched offices of car giant Fiat Chrysler and truck maker CNH Industrial in Switzerland, Germany and Italy as part of a German-led probe into suspected illegal manipulation of diesel emissions.
Murdoch becomes major shareholder in Swiss MCH group
James Murdoch, the son of media tycoon Rupert Murdoch, has been elected to the board of directors of the leading Swiss exhibitions group, MCH.
Pressure mounts on Swiss refinery Valcambi over questionable gold origins
Industry associations are calling on Switzerland’s largest gold refinery to clarify the origins of its gold purchased from Dubai traders.
First Skydive from a Solar Electric Plane Accomplished in Switzerland
The world’s first skydive off the solar-powered electric plane SolarStratos has been completed successfully in western Switzerland. SolarStratos took off from the aerodrome in Payerne at 7:40am on Tuesday with two people on board: test pilot Miguel Iturmendi and co-pilot Raphaël Domjan.
Tags: Featured,Latest news,newsletter