Tag Archives: Personal finance

On 4 October 2021, Assura informed 500,000 policy holders they would receive a refund. Earlier, on 28 September 2021, the Federal Office of Public Health (FOPH), presented the company’s premiums for 2022. For many policy holders, next year’s premium increases will substantially exceed this year’s refunds. © Transversospinales | Dreamstime.comNext year, annual premiums under one of Assura’s plans (PharMed) are set to rise by CHF 75 for adult with a CHF 300 deductible and by CHF 62 for a...

The Pandora Papers, a leak of more than 11.9 million files from offshore service providers, reveal the widespread involvement of Swiss advisory firms in the set up of shell companies in tax havens. © Martin Valigursky | Dreamstime.comThe recent Pandora Papers contain far more information than the Panama Papers, which were leaked in 2016 and resulted in the fall of prime ministers in Iceland and Pakistan. The Panama Papers came from a single source, the Panamanian law firm Mossack...

The think tank Avenir Suisse has calculated that in 2020 the Swiss federal government spent CHF 5 per person per day on the pandemic, a total of CHF 41 million a day. © Dariusz Kopestynski | Dreamstime.comWhile an enormous sum, this compares favourably to a number of other nations. For example, the UK spent CHF 8 francs per person per day and the US government a whopping CHF 15 per person per day. One big differentiator was Switzerland’s deployment of partial unemployment payments....

The Swiss health insurer Groupe Mutuel announced that it plans to refund CHF 400 million to its policy holders, according to RTS. © Marlon Trottmann | Dreamstime.comThe company, which started returning money to its policy holders two years ago hopes to provide further premium rebates over the next three years. Last year the company returned CHF 101 million and plans a repay a further CHF 113 million in 2022. Over a four year period, total repayments are expected to reach CHF 400...

In Switzerland, an official document showing your debt status from the local debt collection register is required for a number of administrative tasks in Switzerland. For example, when applying for an apartment rental agreement or Swiss citizenship. © Siriporn Kaenseeya | Dreamstime.comKnown as an extrait du registre des poursuites in French or a Betreibungsauszug in German, the document can quickly and easily be obtained online for a fee by applying directly to the relevant office – see...

Switzerland is expensive. The prices of certain items, such as some meats and dairy products are kept especially high by a combination of trade tariffs and import restrictions. A lack of retail competition further adds to prices generally. © Typhoonski | Dreamstime.comFor some, shopping across the border is the preferred way to avoid high Swiss prices. Around CHF 10 billion is spent annually on cross-border shopping, according to one estimate. The current tax free limit of CHF 300 per...

Switzerland’s largest health insurers are poised to refund around CHF 300 million to policy holders, reported RTS. © Yulan | Dreamstime.comSwitzerland’s health insurers have reserves of roughly CHF 12 billion, around 2 times the minimum reserve requirement, and have been under pressure from the government to return the money to policy holders. This week Switzerland’s parliament decided to go one step further and force them to reduce their reserves. Parliamentarian Lorenzo Quadri said...

On 26 September 2021, Swiss voters will decide whether to introduce a tax increase on money earned from company ownership and investments. © Pascal Halder | Dreamstime.comThe initiative named ‘Reduce tax on salaries, tax capital fairly’ aims to have income derived from investments and company ownership taxed at 150% of the rate applied to other income. The argument put forward by the initiators, a group belonging to the young Socialist Party, is that income such as salary reflects...

There are many theories on why the prices of certain goods and services are so high in Switzerland. A well-known economic phenomenon can be added to them. © David Taljat | Dreamstime.comTheories that help to explain Switzerland’s high prices include, import restrictions and tariffs on products in protected industries like agriculture, high Swiss operating costs, anticompetitive deals struck by international companies that impose higher prices on Swiss retailers and prevent local retailers...

The latest UBS Swiss Real Estate Bubble Index published this week shows several regions at risk of overheating property prices. © Annanahabed | Dreamstime.comThe regions highlighted as exposed include Basel, Lausanne, Vevey, parts of the Vaud Alps, Lugano, Nidwalden, Luzern, Zug and the Zurich region, all parts of Switzerland where there is plenty of high paid work. Lausanne, Basel, Zug, Luzern and parts of the Zurich region are described as having fundamental risk, while Vevey and...