A look back at Switzerland’s old-age pension scheme, as well as survivors' and invalidity insurance, which are an integral part of the social security system. (SRF, swissinfo.ch)
Switzerland’s social security system to ensure the livelihood of Swiss citizens as they retire and get older consists of three ‘pillars’: old-age and survivors/disability insurance (‘first’ pillar), a professional pension plan (the ‘second’ pillar) and optional private investments (‘third’ pillar).
Old-age and survivors’ insurance (OASI) was first introduced in 1948 and has since been revised ten times. The next revision is planned in 2020. In 1948 the minimum pension was CHF40 ($41). It currently stands at CHF1,100.
The retirement age for men – 65 years – has remained unchanged since 1948. The retirement age for women was also initially set at 65. In 1957 it was lowered to 63 and in 1964 it went down to 62 years. In 2001 the age limit was raised to 63, and then went back up to 64 in 2005. The reform in 2020 will return the threshold for women to 65, as it was in 1948.
On September 25 the Swiss will vote for the popular initiative ‘OASIplus: for a decent old-age pension’, which calls for the old-age pension payment to be increased by 10%.
Most Read Swiss Abroad
More
The surprising boom of Switzerland’s least-loved coin
Is reforming the Swiss pension system still possible, and if so, how?
Solutions still need to be found to meet the challenge of an ageing population and to improve the pensions of low-paid workers, the majority of whom are women.
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
Will Swiss voters increase retirement payments?
This content was published on
Supporters of the initiative, including the Trade Union Federation (which introduced it) and leftwing political parties, see it as a solution in the fight against the ‘pension massacre’. Opponents from employers’ organisations and the rightwing and centrist parties call it “a foolish campaign with devastating consequences”. The initiative calls for a 10% increase in state…
This content was published on
That’s according to the pensioner’s group Pro Senectute, and the recently-published Global AgeWatch Index, which draws on data from the United Nations, the World Bank, the International Labour Organization and the Gallup World Poll. This is despite that fact that the alpine country has the third highest gross national income per capita in the world.…
Do these villages hold the secret to a happy marriage?
This content was published on
The quaint village of Niederwald in canton Valais features an opulent 17th century church and the locals say religion and social responsibility play a key role in keeping couples together. But 20 km away in the village of Bister, the mayor says religion is not a major factor, but traditional values do influence behaviour. Also…
This content was published on
Of the 13,000 people polled earlier this month, 27% were in favour of setting the retirement age to 67. The remaining 16% said they were unsure. Publishing company Tamedia commissioned the survey, and the results appeared in Sunday newspapers SonntagsZeitung and Le Matin Dimanche. The current retirement age in Switzerland is 65 for men and…
This content was published on
This is below the European Union average for social spending of 28% of GDP. The main share of the spending, CHF46.7 billion, went towards healthcare. A further CHF14.6 billion was spent on disability benefits, according to provisional results from 2014 published on Friday by the Swiss Federal Statistical Office. Compared with the previous year, inflation-adjusted…
As Switzerland ages, the pension system gets stretched
This content was published on
2016 is an important year for the future of the Swiss old age insurance scheme. Parliament is in the midst of discussing the “Retirement 2020” project, and at the end of September, voters will have their say on a people’s initiative that would require a 10% increase in the amount that pensioners receive from the…
This content was published on
The ageing population is increasing at an unprecedented rate in Switzerland and around the world, as this new weekly series of graphics from swissinfo.ch explains.
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.