Government hopes for ‘first successful pension reforms’ of the century
In summer 2019 the social partners agreed on a reform of the Swiss occupational pension scheme. The government on Wednesday adopted this compromise unchanged; the ball is now in parliament’s court.
This content was published on
2 minutes
Keystone-SDA/ts
Occupational pensions have been under pressure for a while as a result of rising life expectancy and low interest rates. Following the rejection by voters of the pension reform in September 2017, the government tried again, focusing on the second pillar (based on occupational pension plans and accident insurance).
More
More
Explainer: the three Swiss pension pillars
This content was published on
The Swiss cabinet and parliament are wrangling over reforms to the country’s pension scheme. How does the current system work?
The reform of the occupational pension scheme is intended to secure the pension level, strengthen financing and improve the protection of part-time employees and thus especially women, Interior Minister Alain Berset said at a press conference on Wednesday. He said he hoped it would be the first successful pension reform in the 21st century.
The core of the social partner compromise is a reduction in pensions, which is cushioned by various compensatory measures. The minimum conversion rate at which the saved capital is converted into a pension is to be reduced from 6.8% to 6%. This would mean that 12% of the pension would be lost at a stroke.
A reduction of the conversion rate is inevitable – “nobody denies that”, Berset said. However, despite this widely recognised necessity a reduction of the conversion rate has failed several times at the ballot box.
Parliament should now “do everything it can to find a solution”, Berset said. The government was keen to work with the Senate and the House of Representatives on this “complicated business”, he added. However, Berset warned that the bill should not degenerate into a “self-service shop”.
More
More
Occupational pensions, a hidden Swiss treasure
This content was published on
Swiss pension savings far exceed gross domestic product (GDP) and the reserves of the Swiss National Bank (SNB).
Switzerland condemns rocket attack on Golan Heights sports pitch
This content was published on
The Swiss foreign ministry has condemned a rocket attack on a football pitch in the Israeli-occupied Golan Heights, which resulted in the deaths of twelve children and young people.
Groundbreaking claims expected after Crowdstrike IT breakdown
This content was published on
The claims for damages following the recent global IT breakdown of Crowdstrike are expected to be groundbreaking, according to Matthias Stürmer, a professor of digitalisation at Bern University of Applied Sciences.
Swiss National Bank Chairman encourages public engagement in financial issues
This content was published on
Jordan emphasised the importance of financial literacy, noting its relevance in everyday life, such as when looking for a job, taking out a mortgage, preparing for retirement or saving.
No Swiss Federal Council speech at Rütli for August 1 celebrations
This content was published on
Traditionally, a member from the Swiss Federal Council makes an appearance on the Rütli meadow in canton Uri during the August 1 celebrations.
Swiss government investigates historical treatment of Yenish people
This content was published on
The Swiss government has commissioned a legal opinion to clarify Switzerland's role in the treatment of the Yenish community.
This content was published on
Swiss voters have thrown out a sweeping reform of old age pensions in the latest unsuccessful attempt to amend the social security system.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.