Category Archive: 3.) Personal Finance

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Swiss government aims to cut 2 billion from 2024 budget

2023-01-27

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2023-01-27

Like many governments across the world, Switzerland’s federal government is spending more than it collects. Extraordinary spending on Covid and refugees has pushed Switzerland’s finances into the red, a situation Karin Keller-Sutter, the current finance minister, hopes to eliminate by 2024.

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Retirement at 68.2 to cover Swiss pension shortfall, says UBS

2023-01-26

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2023-01-26

Swiss resident’s are regularly reminded of the large financial gap is Switzerland’s state pension system. Despite this, several attempts at reform have failed to gain sufficient support. Those that have still leave a large shortfall. On 24 January 2023, UBS published four additional reform scenarios. Only the fourth, with a life expectancy adjusted retirement age of 68.2 years eliminates the current projected shortfall.

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Electricity prices could rise more in 2024, suggests head of Swiss regulator

2023-01-21

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2023-01-21

At a meeting in Bern on 19 January 2023, Werner Luginbühl, the head of Elcom, Switzerland’s electricity regulator, called on the sector to be careful to manage consumer expectations, reported RTS.

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Swiss rents and property prices up in 2022

2023-01-10

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2023-01-10

A sharp rise in rent in December 2022 (+1.1%) left the average Swiss rent 4.3% higher than at the beginning of 2022, according to the Swiss Real Estate Offer Index, published on 4 January 2023 by SMG Swiss Marketplace Group. This annual jump of 4.3% exceeds the annual CPI increase of 2.8% announced this week.

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Bern against federal plan to subsidise health insurance 

2022-12-05

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2022-12-05

A federal initiative aimed at subsidising health insurance premiums once they exceed 10% of disposable income met with resistance in Bern this week, reported RTS.

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No rise in Switzerland’s rent rate

2022-12-03

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2022-12-03

Every three months the rate of interest used to set the rents in Switzerland is reviewed. If it goes down some renters have the right to request a decrease in rent. If it goes up landlords can push up rents. This time the rate remained at 1.25%, however it looks set to rise next year.

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Pay rise agreed for Switzerland’s public sector workers

2022-12-02

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2022-12-02

On 2 December 2022, Switzerland’s Federal Council agreed to boost the salaries of those working for the federal government by 2.5% in 2023.

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Inter-cantonal tax transfers to rise 5 percent in 2023

2022-11-19

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2022-11-19

On 16 November 2022, Switzerland’s federal government announced the sums that will be transferred between the nation’s statelets or cantons in 2023, a mechanism aimed at ensuring wealthy cantons support those with weaker economies.

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Vote on pension reform most divisive in Swiss history

2022-11-12

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2022-11-12

Switzerland’s recent vote on state pension reform on 25 September 2022, divided men and women, reported RTS.

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Swiss construction workers protest over hours and pay

2022-11-12

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2022-11-12

After construction workers went out on strike for two days in French-speaking Switzerland, construction workers protested in Zurich over hours and pay on 11 November 2022, reported RTS. Photo by Rodolfo Quirós on Pexels.comWith inflation in Switzerland running at 3%, construction workers are demanding higher pay. However, the construction industry has responded with an offer of better pay tied to higher maximum hours. The industry would like...

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Bank predicts home rent rises in Switzerland

2022-11-11

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2022-11-11

According to the bank Raiffeisen, a future rental housing crisis is likely in Switzerland as the home vacancy rate moves below 1% in 2024, reported 20 Minutes.

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No price rises for Swiss public transport in 2023

2022-11-01

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2022-11-01

For the seventh consecutive year, the price of tickets on Swiss public transport will remain unchanged. It will also become easier to buy tickets for bicycles and canine companions, reported RTS.

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Two votes launched against Swiss tax and pension mariage penalty

2022-10-23

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2022-10-23

In Switzerland, it pays not to be married. Married couples pay higher taxes and receive lower state pensions than unmarried couples. Two referenda were launched this week to change this, reported RTS.

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Swiss state employee pay and numbers should be cut, argues party

2022-10-22

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2022-10-22

The Swiss People’s Party (UDC/SVP) argued this week that the CHF 6 billion spent on state employees should be cut, reported 20 Minutes.

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Swiss state pensions to get a boost in 2023

2022-10-18

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2022-10-18

On 12 October 2022, Switzerland’s Federal Council announced an increase in state pensions from 1 January 2023 by 2.5%.

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Inflation turns negative in Switzerland in September

2022-10-07

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2022-10-07

In September 2022, Switzerland’s consumer price index (CPI) fell by 0.2% compared with the previous month, according to data from Switzerland’s Federal Statistical Office (FSO).

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Swiss electricity prices to rise as much as 280% in 2023

2022-09-12

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2022-09-12

Next year, average electricity prices in Switzerland are set to rise 27% with significant difference depending on where you live, reported RTS. In 2023, an average household consuming 4,500 kWh a year will pay an extra CHF 261 a year for their electricity.

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Swiss government launches energy saving campaign

2022-09-05

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2022-09-05

On 31 August 2022, Switzerland’s federal government launched its campaign to cut energy consumption to reduce the risks of an energy shortfall over the coming winter.

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Switzerland’s population older than ever, shows recent data

2022-08-28

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2022-08-28

In Switzerland, almost 1.7 million people were aged 65 or older at the end of 2021, a figure that makes up 19% of the population, according to data published on 28 August 2022.

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Winter electricity cuts feared, says head of Swiss commission

2022-08-18

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2022-08-18

Electricity cuts lasting several hours are predicted this winter in Switzerland, according to Laurianne Altwegg, vice president of the Federal Electricity Commission. This winter we should ensure we have enough candles and wood for a wood stove for those who have one, advised Altwegg in an interview with RTS.

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