Swiss unions suffered a major defeat on Sunday, November 30th, during the referendum on the introduction of a flexible retirement scheme for low incomes. Indeed, 58% voted against the possibility for some employees to retire two years before legal retirement age. (Ref. 080951)
The initiative was the latest efforts in over a decade’s worth of union lobbying for a more flexible retirement scheme. Currently, Swiss men may retire at the minimum age of 65 years, and 64 years for women without incurring pension benefit losses. One notable exception is the construction industry. In 2003, this sector saw the introduction of an early retirement age which allowed workers to retire from the age of 60 years without pension payment losses. The unions’ initiative, presented by the
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