However, voters are likely to have the final say on the issue as political parties on the left, possibly backed by the main farmer’s organisation, have announced they will challenge the reform via a referendum.
The legal amendment approved by parliament is intended to secure the level of the occupational pension, strengthen financing and improve the protection of part-time employees, notably women.
At the centre of the reform is a reduction in pensions, which will be balanced by various compensatory measures. The minimum conversion rate at which 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.
Pressure
Occupational pensions, set up by employers, have been under pressure due to rising life expectancy and low interest rates.
It took both chambers of parliament over 90 hours of discussions to agree a final comprise.
Interior Minister Alain Berset told parliament this week that a reform of the system is necessary even if the issue will most likely go to a nationwide vote.
As a Swiss Abroad, how do you feel about the emergence of more conservative family policies in some US states?
In recent years several US states have adopted more conservative policies on family issues, abortion and education. As a Swiss citizen living there, how do you view this development?
Swiss stock market sets a new benchmark above 13,000 points
This content was published on
The Swiss Market Index (SMI) hit a new all-time high on Monday morning, briefly exceeding 13,000 points, following the German parliamentary elections.
Swiss researchers use AI to monitor railway bridge stability
This content was published on
Researchers in Zurich can now verify the statics of railway bridges using a new, specially developed artificial intelligence model.
Swiss president reiterates country’s support for Ukraine
This content was published on
President of the Swiss Confederation Karin Keller-Sutter reaffirmed Switzerland's support for Ukraine on Monday at a summit in Kiev to mark the third anniversary of the war. The objective remains a just and lasting peace, she said.
Proportion of women managers in Switzerland up slightly in ten years
This content was published on
Over the last ten years, the proportion of women in management positions and on the boards of directors of Swiss companies has risen slightly, says a new analysis.
Switzerland concerned over US disengagement from UN human rights body
This content was published on
Switzerland is concerned about the disengagement of certain states from the UN Human Rights Council, said foreign minister Ignazio Cassis, as the United States and Israel boycott the Geneva-based body.
Employment in Switzerland up slightly at end of 2024
This content was published on
Total employment in Switzerland, excluding agriculture, rose by 0.9% year-on-year in the fourth quarter of last year, the Federal Statistical Office (FSO) reported on Monday.
Ukrainian ambassador praises ‘unprecedented’ Swiss support
This content was published on
Three years after the full-scale Russian invasion began, Switzerland's solidarity with Ukraine remains unprecedented, said Ukrainian ambassador Iryna Venediktova
Swiss papers see several hurdles ahead for winner of German elections
This content was published on
The Swiss newspapers see a difficult starting position for Friedrich Merz, winner of the German parliamentary elections on Sunday.
Hundreds of people in Geneva demonstrate in support of Ukraine
This content was published on
Over 800 people took part in a rally for Ukraine in Geneva to call for justice, solidarity and unwavering support three years after the Russian invasion began.
Swiss institute hosted informal talks between Russians, Ukrainians and Americans
This content was published on
The Geneva Center for Security Policy (GCSP) has hosted 10 meetings between Russian and Ukrainian interlocutors since the start of the war.
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.
Read more
More
Thousands of retired Swiss seniors falling into poverty
This content was published on
While most senior citizens in Switzerland can comfortably make ends meet, one in five is living either below or close to the poverty line.
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.