On 29 November, Swiss citizens will vote in a referendum on how to finance the 13th monthly payment for pensioners (13th OASI pension), a benefit approved in 2024 that will be paid out from December 2026. While the government is proposing partial funding through VAT, opponents are calling for an overhaul of pension insurance financing, potentially involving an increase in employee and employer social security contributions as well as a rise in the retirement age.
In March 2024, a majority of Swiss voters backed the “Better Living in Retirement” initiative. The vote aimed to boost Old-Age and Survivors’ Insurance (OASI) pensions, the mandatory basic state pension forming the first pillar of Switzerland’s three-pillar system (second pillar: occupational pensions; third pillar: private pensions). The initiative led to the adoption of a 13th monthly payment for more than 2.6 million pensioners and beneficiaries, starting in December 2026.
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