Tag Archives: Pension reform Switzerland

Switzerland’s much discussed work pension reform was accepted by parliament this week after a number of changes, reported Parlament.ch. Photo by Monica Silvestre on Pexels.comLike Switzerland state pension, compulsory work pensions are under strain as the population ages and people live longer. This week, Switzerland’s parliament voted 113 versus 69 in favour of a package of reforms. Key reforms include lowering annuity rates from 6.8% to 6% and transitionary top up payments, but only...

The Swiss government is currently considering how to reform work-related pensions, known as 2nd pillar pensions. © Viacheslav Iacobchuk | Dreamstime.comPension finances are strained by longer life expectancy and low interest rates. Another issue is the low work-related pension savings of low earners and part time workers, groups women are far more likely to fall into than men. In 2017, the median monthly 2nd pillar pension payment for women was CHF 1,221 compared to CHF 2,301 for...

© 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...

The Swiss government has been looking at measures to shore up the finances of Switzerland’s pension system for some time. © motortion | Dreamstime.comThe 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...

The gap between Switzerland’s official retirement age – 65 for men and 64 for women – and average life expectancy is long. Life expectancy at 65 is 20 years for men (85) and 23 for women (88). © Andor Bujdoso | Dreamstime.com More and more people are questioning the viability of living for two decades or more without working, particularly when the population is aging and the pension system is crumbling. However, rather than raising the official retirement age, some favour financial incentives...

© Jakub Jirsák | Dreamstime.com In Switzerland, the official retirement age for women is 64, a year earlier than it is for men. A poll by gfs.bern shows that around two thirds are in favour of raising the retirement age of women to 65. Only 16% are against the idea, with a further 18% somewhat against it. Men (78%) are more in favour of the change than women (54%), according to the newspaper 20 Minutes. In addition,...

In Switzerland, the official retirement age for women is 64, a year earlier than it is for men. © Jakub Jirsák | Dreamstime.com A poll by gfs.bern shows that around two thirds are in favour of raising the retirement age of women to 65. Only 16% are against the idea, with a further 18% somewhat against it. Men (78%) are more in favour of the change than women (54%), according to the newspaper 20 Minutes. In addition, around two thirds are in favour of raising VAT to shore up the finances of...

Universal retirement at a set age is a relatively modern concept. In 1900, 54% of French and 58% of Germans over 65 were working, according data presented by Dr. Marco Salvi of the Swiss think tank Avenir Suisse. © Gemphotography | Dreamstime.com In some countries, such as the US, Japan and Iceland, there were relatively high numbers of older workers until quite recently. In 1960, 29% of Americans over this age were working. In 1968, 34% of over 65s in Japan were in work. And, as recently as...