Tag Archives: Personal finance

More and more people 65 and older are continuing to work across the OECD. The reasons for working beyond this particular point in life vary from person to person. Photo by Andrea Piacquadio on Pexels.comLabour force participation among this age group across the OECD ranges from 2.4% (Romania) to 41.7% (Indonesia). In Switzerland, the rate was 11.1% in 2020, higher than it was in 2005 (7.5%), but lower than it was in 1991 (14.9%). The OECD average is 15.5%. Men in Switzerland over...

On 22 September 2022, the Swiss National Bank (SNB) bumped its policy interest rate up by 0.75 percentage points to 0.5%. The move pushed the Swiss Franc down by around 2% against the euro. © Marekusz | Dreamstime.comThe recent hike brings Europe’s experiment with negative interest rates to a close. Only Japan now has a negative rate. The SNB rate hike follows a 0.75 percentage point hike by the ECB on 14 September 2022 and one of the same amount by the US Fed on 21 September 2022....

Across much of the developed world pension finances are getting squeezed as populations age, baby boomers in particular. Switzerland’s government has a reform plan. However, some who don’t like it called a referendum to oppose it. Arguments for and against the changes are being aired before a vote on 25 September 2022. Photo by Kampus Production on Pexels.comThe proposed changes, dubbed AVS 21 (AHV 21), include raising the state pension (AVS/AHV) age of women from 64 to 65, the current...

Next year, average electricity prices in Switzerland are set to rise 27% with significant difference depending on where you live, reported RTS. Photo by Burak The Weekender on Pexels.comIn 2023, an average household consuming 4,500 kWh a year will pay an extra CHF 261 a year for their electricity. However, there will be big differences depending on where you are. In Zwischbergen, a municipality in Valais, 4,500 kWh will cost CHF 383.05 in 2023. The same electricity...

This week, less than a month before next year’s health insurance premiums are unveiled, santésuisse, a health insurance association, warned of unusually high hikes in the cost of Switzerland’s compulsory health insurance for 2023, reported RTS. © Attila Barabás | Dreamstime.comHealthcare costs rose 6.4% in 2021 and are expected to rise 4% in 2022 and 2023, said santésuisse in a press release. The situation is very serious, said Verena Nold, a director at santésuisse. Insurers’...

Next year, average electricity prices in Switzerland are set to rise 27% with significant difference depending on where you live, reported RTS. Photo by Burak The Weekender on Pexels.comIn 2023, an average household consuming 4,500 kWh a year will pay an extra CHF 261 a year for their electricity. However, there will be big differences depending on where you are. In Zwischbergen, a municipality in Valais, 4,500 kWh will cost CHF 383.05 in 2023. The same electricity in Gaiserwald in...

On 31 August 2022, Switzerland’s federal government launched its campaign to cut energy consumption to reduce the risks of an energy shortfall over the coming winter. Photo by Castorly Stock on Pexels.comThe government stressed that there was currently no energy shortfall. However, Simonetta Sommaruga, the minister in charge of energy, said it was important to cut energy consumption to avoid the risk of forced cuts. An energy cut of a few weeks could cost the Swiss...

On 31 August 2022, Switzerland’s federal government launched its campaign to cut energy consumption to reduce the risks of an energy shortfall over the coming winter. Photo by Castorly Stock on Pexels.comThe government stressed that there was currently no energy shortfall. However, Simonetta Sommaruga, the minister in charge of energy, said it was important to cut energy consumption to avoid the risk of forced cuts. An energy cut of a few weeks could cost the Swiss economy CHF 100...

Figures published by Switzerland’s Federal Statistical Office (FSO) on 2 September 2022 show annual inflation running at 3.5% in August, up from 3.4% in July. Photo by Max Vakhtbovych on Pexels.comSwitzerland’s consumer price index (CPI) was up slightly in August 2022 compared with the previous month, and 3.5% higher compared with the same month of the previous year, said FSO. Inflation in Switzerland kicked off in late 2021 before rising more significantly from February 2022. Annual...

According to a recent survey, health costs, pensions and climate change and the three greatest concerns among Switzerland’s population. Photo by ILOVESwitzerland on Pexels.comThe online survey published by Tamedia on 26 August 2022 looks at support for the main political parties along with the main concerns of voters. Since the previous survey on 5 January 2022, support for the PLR/FDP (+1.4 percentage points) and Liberal Green Party (+1.3 percentage points) has risen. While the Green...