Swiss voters have recently made a significant decision to grant themselves an additional month’s pension each year. The focus of the nationwide referendum was on improving living standards for the elderly population in Switzerland.
Despite concerns raised by the government regarding the affordability of increased pension payments, nearly 60% of voters expressed their support in Sunday’s poll. Additionally, 75% of voters rejected the proposal to raise the retirement age from 65 to 66.
In Switzerland, the maximum monthly state pension currently stands at €2,550 (£2,180; $2,760), which many believe is insufficient to cover the high cost of living in the country, especially in cities like Zurich and Geneva. Rising health insurance premiums, mandatory for all residents, have also posed challenges for older individuals, including women who took breaks from work to raise a family and immigrants who were recruited decades ago to work in various sectors.
The initiative to increase pensions was put forth by trade unions but faced opposition from the government, parliament, and business leaders who argued that it was financially unsustainable. Despite these concerns, Swiss voters ultimately decided to vote in favor of the proposal, exercising their power in the country’s system of direct democracy.
The outcome of the referendum has been described as a “historic victory for retirees” by Avivo, a Swiss association advocating for the rights of current and future pensioners. The decision aligns the state pension with Switzerland’s salary system, which is paid in 13 installments, providing workers with a double payment in November.
Notably, Swiss voters also overwhelmingly rejected the proposition to raise the retirement age, emphasizing the importance of maintaining a work-life balance. The government had repeatedly highlighted the financial implications of these decisions, but voters expressed confidence in the country’s booming economy and their contribution to its success.
Overall, the referendum results reflect the Swiss population’s prioritization of ensuring adequate support for retirees and promoting a healthy work-life balance within the society.
