April 23, 2024

Taylor Daily Press

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The Swiss vote in a referendum on the “thirteenth month” in pensions

The Swiss vote in a referendum on the “thirteenth month” in pensions

More than 58% of Swiss voters participated in the referendum, and a clear majority (58.2%) was in favor of increasing the retirement pension. The majority of the Swiss cantons (16 out of 26) also voted in favor of the resolution. This was a condition for approving the proposal.

This is the first time that the Swiss have said “yes” to a proposal put forward by trade unions in a popular poll. The 13th-month annual pension, which is comparable to the 13th-month salary of many workers in Switzerland, was a proposal by trade unions called “Enjoy your pension better”. The leftist parties supported this initiative.

Concretely, a benefit is sought in addition to the statutory pension. The amount of this benefit must be equal to the monthly benefit. This means an increase in pensions by 8.3 percent per month.

The Swiss government was not in favor of this and claimed that the proposed pension increase would cost more than 4 billion euros annually. She warned that approval would require tax increases and could threaten the financial stability of the Social Security system.

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