Europe

8324 readers

1 users here now

News/Interesting Stories/Beautiful Pictures from Europe 🇪🇺

(Current banner: Thunder mountain, Germany, 🇩🇪 ) Feel free to post submissions for banner pictures

Rules

(This list is obviously incomplete, but it will get expanded when necessary)

Be nice to each other (e.g. No direct insults against each other);
No racism, antisemitism, dehumanisation of minorities or glorification of National Socialism allowed;
No posts linking to mis-information funded by foreign states or billionaires.

Also check out [email protected]

founded 1 year ago

MODERATORS

[email protected]

130

Swiss vote to give themselves a bigger pension (www.bbc.co.uk)

submitted 8 months ago by [email protected] to c/[email protected]

19 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 32 points 8 months ago

The title is misleading. Switzerland pension system is complex and divided by redistribution and capitalization.

The vote of today concerns the pension by redistribution – the first pillar. Employers and employees are contributing for this part of the system as a percentage of the salary. The maximal pension is 2500 Swiss francs (2’829 USD). People will receive a rise equivalent to 1/12 of the yearly pension.

The pension by capitalization – second pillar – follow the same system, with employers and employees contributing for it. But, it is not concern by the vote.

First and second pillar are mandatory by law. In Switzerland, you have a third pillar, which isn't mandatory. It's mostly investment, like life insurance.