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An investigation revealed that incorrect forecasting of Swiss pension expenditure stemmed from faulty methodology, not simple miscalculations. This led to implausible 10-year financing forecasts presented to voters ahead of pension reform referendums. The interior minister has ordered a probe into the discrepancies, prompting the resignation of the head of the Swiss social insurance office.
The Swiss Senate has confirmed that the 13th old-age pension payment will be distributed annually in December, starting in 2026. This initiative, supported by 58.2% of voters, aims to assist pensioners facing financial difficulties and will be funded by a 0.7 percentage point increase in VAT, costing approximately CHF4.2 billion annually. The additional payment will not affect existing pension amounts or eligibility for supplementary benefits.
Voters in canton Uri, Switzerland, have decisively rejected a Green Party initiative aimed at regulating development in Isleten to prioritize nature conservation, with 66.42% against and a turnout of 52.8%. The initiative's failure clears the way for Egyptian investor Samih Sawiris to proceed with plans for a 50-room hotel, 30 hotel apartments, 70 rental flats, seven bungalows, and a small marina, despite alternative proposals from the Green Party not gaining traction. The cantonal government opposed the initiative, citing concerns over economic interests and local autonomy.
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Swiss Pension Forecast Errors Linked to Methodological Flaws Not Miscalculations
08:55 07.12.2024
Switzerland Confirms Annual 13th Pension Payment Starting December 2026
11:27 04.12.2024
Uri voters approve hotel and marina project despite green initiative rejection
17:12 24.11.2024
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