Swiss To Vote On Reform Of Pension System

[RAMROD 117,055]

Swiss voters are to get a fresh chance to decide on reforming their increasingly underfinanced state pension system under a proposal that would raise both men's and women's retirement ages to 66 at first, and to just over 67.5 by 2050.

Ageing populations and ultra-low interest rates are putting pressure on pension systems everywhere, and many countries have already raised retirement ages. Recent attempts to initiate a reform through the Swiss system of direct democracy have failed at the ballot box.

Now the Young Liberals, youth wing of the business-friendly Liberal Democratic Party (FDP), are having another go.

Under the slogan "Revolt of the Young", they submitted 145,000 signatures to authorities in Bern on Friday to force a referendum on a proposal to bring the retirement age to 66 by 2032, from the current 64 for women and 65 for men.

The initiative needs validation from parliament, and a referendum would then be expected in around three years.
 

Source:

https://www.reuters.com/world/revolt-young-swiss-vote-reform-pension-system-2021-07-16/

 

[bionic 50,111]

By the time I'm retirement age I expect it'll be about 85