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.
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?
In Switzerland more people are being referred to electrical therapies or psychedelic-assisted psychotherapy. Are there similar approaches where you live?
Pope was a person full of respect: Swiss president
This content was published on
Swiss president Karin Keller-Sutter, who is attending the funeral of Pope Francis, says the pontiff was always full of respect.
Ex-sect member sentenced in Zurich for sexual abuse
This content was published on
Zurich District Court has sentenced a former member of the globally active sect "Children of God" to a partial prison sentence.
SNB chairman does not rule out slowdown in Swiss growth
This content was published on
Martin Schlegel, chairman of the Swiss National Bank (SNB), does not rule out a weakening of the Swiss economy in light of the tariff dispute.
Swiss NGOs abroad to receive 10% less federal funding
This content was published on
In 2025 and 2026, Swiss NGOs will have 10% less federal funding available for international cooperation than in the previous two-year period.
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.