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Switzerland provides a 13th pension for the elderly

Switzerland provides a 13th pension for the elderly

This is the result of the referendum requested by the unions with the support of the left. The 13th month pension initiative was approved by 58.24% of voters and by a majority in 16 of the 26 cantons.

So, just as employees get their 13th salary, retirees will also get an extra pension.

Now it will be up to the government and Parliament to determine the exact methods of implementation and financing of the reform.

More than 2.5 million retirees receive a pension, according to government data.

The initiative was taken due to rising prices and costs.

Many retirees struggle to afford Switzerland's expensive living standards.

On the same day, March 3, a second referendum was held on raising the retirement age due to increased life expectancy. This was rejected by a vote of 74.7% of the voters.