Swiss government urges voters to reject pension reform proposals

The Swiss government has rejected arguments to raise the retirement age to 66 and for a 13th monthly pension payment – proposals that will be decided by voters in March. On Monday, Federal Councillor Elisabeth Baume-Schneider presented the Federal Council's arguments against the two initiatives. + What's at stake in the Swiss pension vote? On March 3, Swiss citizens will vote on the popular initiative "For a better life in old age". The initiative seeks to increase the old-age pension by one month. A 13th pension payment would thus be added each year to the 12 monthly pensions. The Federal Council recommends rejecting the initiative because of the additional costs of at least CHF4.1 billion per year that it would entail. + Raising Swiss retirement age: visionary or unwelcome? The Federal Council is also saying no to the popular initiative by the Young People's Party of the Swiss Liberal Democrats to raise the retirement age, initially to 66, for both men and women, and...