In referendum

Swiss reject higher retirement age

On Sunday, the majority of Swiss people voted against a higher retirement age, but in favor of a 13th pension payment (symbolic image).

(Bild: stock.adobe.com)

A clear majority of Swiss voters (74.4 percent) voted against a retirement age of 66 on Sunday. The age should have been linked to life expectancy, as proposed by the Young Liberals.

The current retirement age in Switzerland is 65. In addition, almost 60 percent of voters on Sunday were in favor of a 13th monthly pension. This demand had come from the popular initiative "For a better life in old age" and is to be paid out once a year from 2026. It is similar to the 13th and, in some cases, 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 trade unions have been able to push through one of their demands via direct democracy. The required majority among the cantons was also achieved on Sunday: 16 of the 26 cantons voted in favor, which is more than the required half of all cantons. In total, just over 58% of Swiss citizens eligible to vote took part in the referendum.

One of the most expensive countries in the world
The government had argued that the 13th pension payment would necessitate 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 2450 Swiss francs (around 2470 euros) for single people and 3675 francs (the equivalent of 3854 euros) for married couples.

Popular initiatives must be approved by both the majority of the population as a whole and the majority of the cantons. The people and the cantons decide whether new provisions are to be included in the Federal Constitution or not.