Votes On Raising Retirement Age, Raising Pension Provisions 3 Mar

Swiss voters will take part in two referendums on 3 March related to pension provision, which could have a notable impact on gov't finances. One referendum proposes increasing the number of pension payments made per year from 12 to 13, equating to a ~8% increase in a move that the gov't claims would cost CHF4bn/year. The second initiative seeks to increase the retirement age from 65 to 66 by 2032.

• Swissinfo.ch: "Right-wing and centrist parties, as well as the country’s main economic organisations, oppose [the additional pension payment], which would cost almost CHF4 billion a year, according to government estimates. Opponents claim the additional pension would be financed at the expense of people of working age, either through higher contributions or higher taxes. "
• Of the four parties in the Federal Council just one - the centre-left Socialist Party - backs the increase in number of pension payments, while the populist Swiss People's Party and the classical liberal FDP: The Liberals support the increase to the retirement age.
• The Federal Council and Parliament have backed the 'no' campaigns in both votes, arguing the increase in number of pension payments would damage public finances and not be fiscally sustainable, and that the increase in retirement age is a blunt instrument that not take into account social conditions or the state of the labour market.