Swiss voters vote for 13th pension within year

Switzerland has voted for an increase in the number of pensions for the elderly, in a referendum held Sunday, according to FRF public broadcaster projections.

According to reports, 58 percent of participants have supported a 13th pension during the year, and 42 percent have been opposed.

The measure, prompted by labour unions and left or centre-based parties, must have the approval of most of the 26 Swiss cantons.

The margin of victory implies that something like that can be achieved, according to the Swiss broadcaster.

This step is a major achievement from union perspective”, Lucas Golder of the polling company gfs.burn said, in comments to SRF television.

The government, business lobbiing organisations and parliament, which now has a majority of right, have rejected the proposal and seen it as financially inadequate.

In the past, Swiss voters have been cautious in adopting measures they have considered risky for businesses.

Voting for bookings is in contrast with referenda held in recent decades in Switzerland, in which the work days cut or more holidays have been rejected.

Finally, though, the cost of life is of great concern.

Cyril, Switzerland, along with Singapore, has been declared the most expensive cities in the world, according to a study published in November by The Economist Intelligence Unit.

Mary, a 65-year-old Swiss woman, has said that increasing the number of pensions makes sense.

I'm retired now and of course I want more”, she said.

It is still not known where the funds for this pension increase will be allocated, a decision that should come into force in 2026.

The pension for the elderly in Switzerland is 1,225 francs per month and the maximum is 2,450 francs.

For couples the sum goes to 3,675 francs.

The Swiss have also voted for the initiative to raise retirement age, but something like that has been overwhelmingly rejected. / REL