Switzerland Votes to Increase Pensioners’ Allowances and Keep Retirement Age at 65

by time news

2024-03-05 15:34:43

The citizens of Switzerland decided in a referendum that took place last Sunday to significantly increase pensioners’ allowances and cancel the raising of the retirement age from 65 to 66 – as decided by the conservative government. The addition to the pension will be made through the payment of an additional month of allowance every year – similar to the 13th salary that many in the country receive from their employers as part of the collective agreements.

After dozens of referenda on the subject in the last 50 years, this is the first time that the citizens approve such a comprehensive reform of the Swiss pension and welfare system, initiated by the trade unions and with the support of the left-wing parties, including the communists.

According to the results, 58.2% of the voters supported the initiative, which will probably be manifested in practice by an 8.3% increase in pensions starting in 2026 – the equivalent of adding a monthly payment per year. In addition, the proposal won a majority in 16 of the 26 Swiss cantons, another condition for a clause decided in a referendum to become a binding law. About 58% of the electorate in Switzerland voted in the referendum, a relatively high rate.

Poster of the Federation of Trade Unions of Switzerland: “The allowance is not enough for us – on March 3rd they voted in favor”

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