Tag Archives: Personal finance

Electric heat pumps have a lower carbon footprint than gas and oil heating systems. They are more energy efficient, and, when gas, coal and oil electricity generation are eventually phased out of the grid, they will be close to emission free. However, the number of heat pumps being installed in Switzerland is falling, and the number of new gas and oil heating systems is on the rise, according to a report by RTS. Photo by Heiko Ruth on Pexels.comSo far in 2024, Swiss homeowners have...

Last weekend, Swiss voters rejected a plan to invest in road infrastructure, partly due to the CHF 4.9 billion price tag. This week, Switzerland’s federal parliament learned the CHF 16.4 billion budgeted for rail infrastructure expansion between now and 2035 could reach more than CHF 30 billion, reported SRF. Swiss Rail © Ciolca | Dreamstime.comThe cost overrun was first reported by the Neue Zürcher Zeitung and later confirmed by the Federal Office of Transport (FOT). CHF 8.5 billion of...

The rising cost of Switzerland’s compulsory health insurance is a major political issue. The government has hatched a plan aimed at improving incentives in the hope it will reduce the seemingly never ending rise in health insurance premiums. However, a number of people sceptical of the plan’s ability to deliver the saving have organised a vote against it, which takes place this weekend. Photo by Harald Hechler on Pexels.comThe plan is focused on how various healthcare services are paid...

The rising cost of Switzerland’s compulsory health insurance is a major political issue. The government has hatched a plan aimed at improving incentives in the hope it will reduce the seemingly never ending rise in health insurance premiums. However, a number of people sceptical of the plan’s ability to deliver the saving have organised a vote against it, which takes place this weekend. Photo by Harald Hechler on Pexels.comThe plan is focused on how various...

Most people in Switzerland rent. This means the nation has strict tenancy rules, some of which are viewed as too strict by the current government. Both parliament and the Council of States have come up with two changes aimed at limiting the actions of tenants, which are considered abusive. Photo by Peter Lengacher on Pexels.comThese two votes are the result of objections to government plans rather than popular initiatives. After a plan is agreed by the government, if the public can...

In 2025, many wage earners will see their pay rise. However, the increases may not be sufficient to cover the rising costs, rising health insurance premiums in particular. Who will receive more pay next year? Migros and Coop, Switzerland’s two largest private employers have announced pay increases of 1% to 1.3%, reported SRF. Denner, which is part of the Migros group, has said it will boost pay by 1.1% next year. Airline Swiss, another large employer, has announced a 2% pay boost. Other...

Switzerland’s pension system has three elements. The first is a state pension linked to the number of years worked. This is funded by a tax. The second is a salary based scheme funded by salary deductions, and the third is an optional element known as the third pillar. Contributions to all of these are tax deductible, providing an economic incentive to pay into them. This week, the Federal Council announced a change to third pillar contributions, reported SRF. © Gfadel | Dreamstime.comThe...

Pending new legislation means widows and widowers will soon receive a pension only until the youngest child reaches the age of 25. Currently, widows, but not widowers, receive a pension for life. For widowers the payments currently stop when the youngest child turns 18. This week, the Federal Council sent instructions to parliament to enact the reform, reported RTS. Photo by RDNE Stock project on Pexels.comThe change has partly been driven by the need to find savings to balance government...

This week, Switzerland’s federal government said it expects to run a deficit of CHF 900 million in 2024, a figure significantly below the original forecasted deficit of CHF 2.6 billion. Bern © Sean Pavone | Dreamstime.comThe original figure has now dropped twice, once in June by CHF 1 billion and now by a further CHF 0.7 billion to CHF 0.9 billion. The recent forecast reduction is driven by higher receipts (+0.4 billion), mainly from investment activities, and lower spending (-0.3...

A study published this week found that nearly 1 in 20 (4.8%) people under 18 in Switzerland received social welfare in 2022, reported RTS. Children made up 33% of the total population on welfare. The report called for more money to ensure this group is sufficiently supported. Photo by SRIPADA STUDIOS on Pexels.comThe 76,000 children in Switzerland receiving social assistance often live restricted lives. There is a need for action regarding the level and design of social assistance...