Swiss Voters Give Themselves Extra Month Of Pension, Reject Raising Retirement Age

Dear lazy Americans: this is how the Swiss do it…

Over the weekend, Swiss voters gave themselves an extra month’s pension each year, in a nationwide referendum focusing on living standards for the elderly.

The government had warned that the increased payments would be too expensive to afford, but we live in an age where nobody cares anymore about long-term costs so may as well live it up and enjoy it, and indeed almost 60% of voters said ‘yes’ in Sunday’s poll. Separately, 75% rejected raising the pension age from 65 to 66.

The maximum monthly state pension is €2,550 (£2,180; $2,760) – not enough, many say correctly, to live on in Switzerland where a Big Mac burger costs $8.17, 43% more than in the US.

The proposal to increase pensions came from the trades unions – but was opposed by the Swiss government, parliament, and business leaders, who argued it was unaffordable.

The result was described as a “historic victory for retirees” by Avivo, a Swiss association that defends the rights of current and future pensioners.