In Switzerland, an additional “13th pension” was supported in a referendum
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According to the results of the referendum, Swiss citizens expressed support for the initiative to introduce an additional “13th pension”, voting for it with 58.2%. The proposal for additional pension payments came from trade unions, who argued that it was necessary due to the rising cost of living in the country.
Today, the minimum pension in Switzerland is approximately $1,393 per month, and the maximum is $2,780. However, many Swiss are forced to continue working after retirement due to high living costs.
The government, parliament and business opposed the trade union initiative, pointing out the financial unsoundness of such a decision. The government estimates that raising pensions would cost more than $4.5 billion annually.
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