Tag Archives: Personal finance

Switzerland’s retirement age of 65 for men and 64 for women puts its state pensioners in the youngest half of OECD retirees. Photo by MART PRODUCTION on Pexels.comThis week, when a Swiss parliamentarian asked in which direction pension reform was heading, he received a written response that said the state pension system could be stabilised from 2030 with a rise in the retirement age to 68 for both men and women, reported the NZZ newspaper. Many nations have...

Switzerland’s retirement age of 65 for men and 64 for women puts its state pensioners in the youngest half of OECD retirees. Photo by MART PRODUCTION on Pexels.comThis week, when a Swiss parliamentarian asked in which direction pension reform was heading, he received a written response that said the state pension system could be stabilised from 2030 with a rise in the retirement age to 68 for both men and women, reported the NZZ newspaper. Many nations have already moved in this...

Dairy prices are rising globally. Higher global prices are expected to trigger price rises in Switzerland as local dairy farmers follow the global trend, reported 20 Minutes. © Erix2005 | Dreamstime.comSince the beginning of the year, the price of a tonne of dried milk has risen by around 16% to US$ 4,503, according to the website Global Dairy Trade. Contracts dated March 2022 are priced slightly higher at US$ 4,510. Between 4 January and 15 February 2022, prices rose 16% from US$ 3,866...

Data published this week by Switzerland’s Federal Statistical Office (FSO) show that the number of active workers in Switzerland rose to a record 5.239 million by the end of 2021. Photo by Lex Photography on Pexels.comThe number of people employed at the end of 2021 was 1.9% higher than at the end of 2020. 5.239 million represents around 73% of those 15 or older. Sharp rise in hotel and restaurant jobs The number of people actively working in hotel and restaurant jobs rose 8,700...

In Germany, the lowest-priced Netflix subscription is CHF 8,30 (EUR 7.99) a month. The same subscription in Switzerland costs CHF 11.90, a price 43% higher than in Germany. Photo by Karolina Grabowska on Pexels.comGiven the large difference between German VAT(19%) and Swiss VAT (7.7%), all other things being equal, Swiss subscribers should expect to pay 10% less than German subscribers. After accounting for the VAT difference the Swiss price premium widens from 43% to 58%. According to...

Winterthur-based Init7 recently started charging extra for replay TV. Other providers are set to follow, according to 20 Minutes. Photo by JESHOOTS.com on Pexels.comUntil recently, replay TV, which allows viewers to record shows and watch them at a time of their choosing, was included at no extra charge to subscribers. The problem with replay TV is that it allows viewers to fast forward through adverts, something that is costing broadcasters money. To recoup the lost advertising revenue,...

According to a recent report by the Federal Housing Office (OFL) there are an estimated 2,200 homeless residents in Switzerland and another 8,000 at risk of losing their homes. Photo by MART PRODUCTION on Pexels.comThe authors of the report collected information from 616 municipalities across 22 cantons to compile the data. 616 municipalities covers around 28% of Switzerland’s total. Reasons often cited for homelessness included overspending, debt, drugs and social factors associated...

In response to rising welfare costs, Switzerland’s Federal Council has put forward a proposal to cut the amounts paid to non-EU immigrants in Switzerland, reported RTS. © Arsty | Dreamstime.comBetween 2010 and 2019, the cost of welfare in Switzerland rose by CHF 0.9 billion to CHF 2.8 billion (+47%), straining the finances of some cantons and municipalities. The Federal Council has put forward a proposal to contain this rising cost and to encourage better integration into the workforce....

In 2020, the Covid-19 pandemic weighed heavily on Swiss foreign trade. But in 2021, exports bounced back, rising 15.2% to reach a record high of CHF 260 billion. © Maen Zayyad | Dreamstime.comThe sharp jump in exports in 2021 caused Switzerland’s trade surplus to reach CHF 58.7 billion, despite rising imports, which were pushed up by rising energy prices and chemical imports. A significant driver behind Switzerland’s higher exports was increased exports of immunological products. These...

The price of wood pellets in Switzerland is up 20% over the last 12 months, according to Patrick Schmutz, a wood pellet expert, reports RTS. © Stocksolutions | Dreamstime.comAccording to Schmutz, the price rise is due to a cold 12 months, especially last spring, and the success of wood pellet heating. More and more pellet-based heating systems are being installed in Switzerland. In addition, global demand for wood has been high, particularly in the US where the pandemic encouraged people...