The country that voted to give itself a bigger Pension
The people of Switzerland have given themselves an extra month’s Pension each year - in a nationwide referendum focusing on living standards for the elderly.
The Government had warned that the increased payments would be too expensive to afford.
But almost 60% of voters said ‘yes’ in Sunday’s poll. Separately, 75% rejected raising the age of the pension from 65 to 66.
“This is historic,” Pierre-Yves Maillard, head of the Swiss Trade Union Federation, told AFP. The union had called for a 13th monthly Pension payment each year.
The maximum monthly state Pension is €2,550 (A$4,242.81) but widely considered to be insufficient to live on in Switzerland. The cost of living in Switzerland, particularly in major cities such as Zurich and Geneva, is among the highest in the world.
Health insurance premiums, which are obligatory for everyone, have been increasing steadily, and older people sometimes struggle to pay them. Even new residents must purchase a policy within three months of arriving in Switzerland, and coverage applies retroactively to the arrival date.
More and more people in Switzerland are working into their 70s not out of choice, but out of necessity. On average, a kilo of chicken costs around 25 euros (A$41.60) and a loaf of bread is more than 3.20 euros (A$5.32), according to cost-of-living tracker Numbeo.