The Swiss people are set to decide whether pensions should be reduced after opponents of a cut gathered enough support to call a nationwide vote.
This content was published on
1 minute
A number of leftwing groups and consumers’ organisations delivered more than 200,000 signatures to the Federal Chancellery in Bern on Wednesday, over four times as many as are required.
The Chancellery must now check that the votes are genuine. Opponents of any law passed by parliament can seek to overturn it in a referendum, which must be called if they can gather the support of at least 50,000 voters within 100 days.
Parliament approved an amendment to the pension law in December. The Unia trade union, which launched the referendum, says it would mean a ten per cent cut in pensions in comparison with today.
This would result in many pensioners being in need, it claims.
The union blames pension funds for having lost money through bad investments, and says pensioners should not have to bear the brunt alone.
Centre-right parties support the reduction, as the only way to ensure the survival of the pension scheme as life expectancy increases and returns on investments are likely to fall in the long run.
swissinfo with agencies
Popular Stories
More
Foreign affairs
Why Swiss trams have become sought-after vehicles in Ukraine
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.
Read more
More
Pension shortfall increases as stocks freefall
This content was published on
The industry insists the situation is under control although one in four funds are now required to reduce benefits or raise contributions. But some observers are worried about the bleak economic outlook. The report compiled by Swisscanto, one of Switzerland’s largest pension funds, estimates that the average fund has only enough assets to cover 94.4…
This content was published on
Also on the agenda were plans aimed at easing early retirement, tougher legal provisions against paedophiles and moves to curb the powers of environmental organisations. Polls closed at midday and results are expected shortly. Of the five issues at stake only the vote on enshrining the government’s four-pillar drugs policy has a realistic chance of…
This content was published on
But critics say discussions ahead of the nationwide vote on November 30 do not take into account the contribution made by experienced workers and the role of the older generation in society. The proposal – launched by trade unions and supported by the centre-left Social Democrats and the Greens – is aimed at granting early…
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.