Swiss workers open to the idea of raising retirement age

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Employees Switzerland, an organisation representing Swiss workers, is resigned to the idea of raising the retirement age, according to Swiss broadcaster RTS.

Speaking to the newspaper NZZ am Sonntag, Stefan Studer, director of the association, said raising the retirement age is inevitable because of the financial difficulties facing Switzerland’s state pension system, known as the first pillar.

“We must rethink the retirement age”, said Studer. He thinks we need to be flexible so that we can leave future generations with a pension system in good health. Even if the vote on increasing social security taxes to further fund pensions is accepted on 19 May 2019, it won’t be enough to solve the problem. A state pension funding gap of CHF 170 billion is forecast between now and 2045.

Studer thinks that if employees are valued many are prepared to work longer, with the possibility of a lower work load. Most like their work and do something that gives their life meaning, he said. At the same time some professions are physically demanding so some flexibility will be required.

Employees Switzerland has around 16,000 members across Switzerland.

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Investec is a distinctive Specialist Bank and Asset Manager. We provide a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa and Australia, as well as certain other geographies. Investec’s strategic goals are motivated by the desire to develop an efficient and integrated business on an international scale through the active pursuit of clearly established core competencies in the group’s principal business areas.

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