The clear majority of Swiss voters (74.4 percent) voted against a retirement age of 66 on Sunday. Later, age should have been linked to life expectancy, as proposed by the Young Liberals.
The retirement age in Switzerland is currently 65 years. Moreover, on Sunday almost 60 percent of eligible voters were in favor of a 13-month pension. This requirement arose from the people’s initiative ‘For a better life in old age’ and will be paid out once a year from 2026. It is comparable to the 13th and sometimes 14th monthly salary that many employees receive in Switzerland and other European countries, including Austria.
The project was mainly supported by trade unions and left-wing parties. This is the first time that the unions have been able to enforce one of their demands through direct democracy. The required majority was also achieved among the cantons on Sunday: 16 of the 26 cantons voted in favor, which is more than the necessary half of all cantons. In total, just over 58 percent of Swiss voters participated in the referendum.
One of the most expensive countries in the world
The government had argued that the 13th pension payment would require tax increases and jeopardize the financial stability of the social security system. Switzerland is one of the most expensive countries in the world. The maximum monthly pension is currently 2,450 Swiss francs (approximately 2,470 euros) for singles and 3,675 francs (equivalent to 3,854 euros) for married couples.
Popular initiatives must be accepted by the majority of the total population as well as by the majority of the cantons. The people and the estates decide whether new provisions are included in the federal constitution or not.
Source: Krone
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