Referendum in Switzerland: Residents Vote in Favor of 13th Pension Payment

Residents of Switzerland have voted in favor of the 13th pension payment. This initiative is expected to require over 4 billion francs (approximately 4.52 billion dollars) annually. The proponents of the referendum did not provide detailed descriptions of how these funds will be sourced.

It is likely that the necessary funds will be collected either through increases in contributions from working Swiss citizens or through a rise in VAT. The Swiss government is set to present a decision regarding the new payments by the end of 2024.

Today, Swedes held a referendum concerning the 13th pension payment, similar to a 13th salary. The measure is aimed at combating poverty among pensioners. Currently, the basic pension amounts to 2,450 Swiss francs, but authorities are uncertain about how to secure the additional funding. They are urging a vote against the proposed amendment, as reported by Tagesschau. According to official statistics on poverty, 15% of Swiss pensioners live below the poverty line.