Swiss pensioners have something to be happy about: the 13th pension is now in effect. With 58.2% of the vote and a majority obtained with the help of more than half of the cantons, the decision passed the popular vote, the local press reports.
According to the results of the consultation, the Swiss, whose aging population is facing an increase in the cost of living, voted for an additional pension (13 pence).
The proposal won 58.2% of the country’s vote, according to these preliminary results, which also show it won a majority in more than 13 of Switzerland’s 26 cantons, a requirement for approval.
Level I pension
Currently, the minimum age pension for a single person is 1,225 Swiss francs per month, and the maximum is 2,450 Swiss francs.
The size of the pension depends on several factors:
Number of years you have contributed: If you have contributed to AVS throughout your working life, you are entitled to a full pension. If not, they receive a preferential pension. For example: failure to pay AVS contributions for one year will result in a pension reduction of approximately 2.3%.
The higher the salary, the higher the AHV contributions. This will increase the pension. To receive the maximum pension, the average annual income must be at least around 88,200 Swiss francs.
The pension for married couples and couples in a registered partnership is limited to 150% of the maximum pension for one, which is currently CHF 3,675 (even if the sum of the pensions of both spouses or partners exceeds this amount).
Early or delayed retirement
The legal retirement age in Switzerland is 65. It is possible to retire a year or two earlier, in which case your pension will be reduced.
If you retire a year earlier, your pension will decrease by 6.8%, and if you retire two years later – by 13.6%.
On the other hand, if you decide to delay your retirement by a year or at most five years, your pension will increase according to how long you work after retirement.
If the pension does not cover basic expenses (living, you have), the Swiss can receive additional benefits: medical support, assistance with increased mobility, glasses, prostheses or lifts.
Source: Hot News
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.