Higher retirement age ruled out by Swiss government

The Swiss government is not planning to increase the retirement age with the next package of pension reforms. +Get the most important news from Switzerland in your inbox However, the government wants to work towards ensuring that people remain in employment for longer. The initial direction of a reform for the years 2030 to 2040 have been outlined. The pension scheme is facing expenses that it cannot cover with its current income. More and more older people are living in Switzerland, and more baby boomers will be retiring in the coming years. + Swiss vote: ‘yes’ to higher pensions, ‘no’ to retiring later The 13th pension payment that has already been decided will cost billions, and further costs could be incurred with the abolition of the pension penalty for married couples. Without countermeasures, deficits in the billions are looming: according to estimates, the pension fund would have a contribution deficit of around CHF2.5 billion in 2030 and CHF5.7 billion in 2040. With the ...