The initiative will come into force in 2026. It will cost around CHF4.2 billion ($4.7 billion) a year. Value-added tax (VAT) is to be increased by 0.7 percentage points in Switzerland to finance the 13th monthly pension payment.
The additional money will be paid to everyone entitled to an old-age state pension. The supplement will have no impact on the amount of monthly old-age pensions, and will not be taken into account in the calculation of income qualifying for supplementary benefits.
The House of Representatives will not take a position on the financing of this pension. The preparatory commission considered that the fund’s financial situation did not require an immediate source of financing, and that parliament should take its time to analyse the situation.
Translated from German by DeepL/sb
This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.
If you want to know more about how we work, have a look here, if you want to learn more about how we use technology, click here, and if you have feedback on this news story please write to english@swissinfo.ch.
What factors should be taken into account when inheriting Swiss citizenship abroad?
Should there be a limit to the passing on of Swiss citizenship? Or is the current practice too strict and it should still be possible to register after the age of 25?
Is your place of origin, your Heimatort, important to you?
Every Swiss citizen has a Heimatort, a place of origin, but many have never visited theirs. What’s your relationship with your Heimatort? What does it mean to you?
This content was published on
Scientists have shown that bonobos combine their calls into complex sound sequences that resemble combinations of human words.
This content was published on
US parliamentarians have threatened the UN Human Rights Council with sanctions similar to those against the International Criminal Court (ICC).
This content was published on
Thanks to abundant snowfall, lift operators benefited from increased visitor numbers, with the number of guests jumping by 12% year-on-year.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.