Highlights: The Swiss are called to the polls to decide on the retirement age. If the first proposal should be largely refused, the boost to old age pensions could be accepted. Nearly 14% of retirees live below the poverty line in Switzerland. A 13th public pension would somewhat correct this state of affairs, say the opponents, most of whom come from the right, economic circles, but also young people. A majority of them refuse to contribute a little more, even if it is to earn a bit more in retirement.

The Swiss are called to the polls this Sunday to say whether they agree to raise the retirement age from 65 to 66 and also grant a 13th month to retirees to compensate for the loss of…

The Swiss called to the polls to decide on the retirement age

The Swiss are called to the polls this Sunday to say whether they agree to raise the retirement age from 65 to 66 and also grant a 13th month to retirees to compensate for the loss of their purchasing power.

If the first proposal should be largely refused, the boost to old age pensions could be accepted, despite the opposition of young voters who do not always feel concerned.

Sealed ballot papers during a referendum on immigration in Switzerland on October 23, 2023 (illustrative image).

AP - Gaetan Bally

By: RFI Follow

With our correspondent in Geneva,

Jérémie Lanche

Swiss

retirees

receive between one and three different pensions, which are called pillars.

The first pillar, works on a pay-as-you-go basis, it is a public annuity, of a fairly small amount.

The second pillar is a capitalization annuity, linked to work.

Those who can afford it can also subscribe to a third pillar which functions like a savings account.

But Swiss retirees have fewer and fewer resources, explains socialist parliamentarian Pierre-Yves Maillard, who is campaigning for an increase in the first pillar.

Also readPensions: how does the Swiss model work?

“

We now have people retiring and discovering pension situations that do not allow them to live properly.
This whole idea that we had throughout previous decades where retirement would be a time when we could roughly maintain our standard of living during working life, is a promise that is no longer kept

,” explains the parliamentarian.

14% of retirees below the poverty line

Nearly 14% of retirees live below the poverty line in Switzerland.

This is twice as much as the population average.

A 13th public pension would somewhat correct this state of affairs.

Too expensive, say the opponents, most of whom come from the right, economic circles, but also young people.

A majority of them refuse to contribute a little more, even if it is to earn a little more in retirement.

To pass, the measure not only needs a majority of yes votes.

But also a majority of the cantons.

German-speaking Switzerland, more cautious on the subject, should decide the fate of retirees.

The Swiss called to the polls to decide on the retirement age

The Swiss called to the polls to decide on the retirement age

14% of retirees below the poverty line

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