Switzerland voted in favor of an additional 13th pension in a referendum

In a referendum in Switzerland on Sunday, March 3, people voted in favor of raising pension benefits for the elderly and against raising the statutory retirement age. This was reported by Reuters, according to UNN.

Details

According to the preliminary official results released by the government, more than 58% of voters supported the additional pension - the 13th monthly payment per year - and only 42% were against it.

This decision, which was promoted by the Swiss Federation of Trade Unions and center-left parties, was approved by the majority of 26 Swiss cantons. Opposition to these measures was strongest in cantons with low taxes.

This step is indeed an important milestone from the perspective of trade unions,

The government, the business lobby, and the parliament, which is currently leaning to the right, rejected the proposal as financially unreasonable. In the past, Swiss voters have been cautious about supporting measures that were considered risky for business.

The vote on pensions contrasts with referendums in recent decades in which Switzerland has rejected proposals to shorten the work week and give people more days off.

Concerns about the cost of living are widespread in the wealthy country. According to a study by the Economist, Zurich, the largest Swiss agglomeration , is on par with Singapore as the most expensive city in the world.

It is unclear how the pension increase, which is to take effect in 2026, will be financed. Opponents of the decision say that it could lead to tax increases or spending cuts and put a burden on younger Swiss people.

The minimum old-age and survivors' pension in Switzerland is CHF 1,225 (USD 1,393) per month, and the maximum is CHF 2,450. For married couples, it is 3,675 francs.

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