Tag Archive: Personal finance

Vaud to cap health insurance premiums at 12 percent of income

2018-09-09

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2018-09-09

Starting in September 2018, health insurance premiums in excess of 12% of income in the canton of Vaud will be covered by the government. From the beginning of 2019, this percentage will be reduced to 10%, increasing the number of people who qualify and the size of the subsidies, according to the newspaper Le Matin.

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Swiss study recommends 38 weeks of parental leave

2018-08-26

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2018-08-26

Mum and Dad
This week, a government commission gave its verdict on the vote, recommending two weeks of paternity leave instead of the four set out in the referendum’s text. Their commission’s main concerns are centred on the impact on companies and the cost of funding it.

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The secrets of the new 200 Swiss franc note

2018-08-24

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2018-08-24

Franc Swiss note
Switzerland began updating its notes starting with the 50 franc note in April 2016. It then issued the new 20 franc note in May 2017, and the new 10 in October 2017. The newest note to grace Swiss wallets, pockets and purses is the 200 franc note, which was launched on 22 August 2018.

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Swiss Health Insurance Companies Aim to Make it Easier to Break Contracts

2018-08-19

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2018-08-19

Swiss-health-insurance
Swiss health insurance companies are aiming to change laws to make it easier for them to unilaterally end complementary insurance contracts, according to the newspaper Le Matin.

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Geneva set to vote on maintaining public spending in the face of company tax reform

2018-07-29

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2018-07-29

An initiative entitled: zero losses, was filed this week in Geneva. It aims to ring fence current public spending in the face of future company tax reform. The initiative gathered 9,147 signatures, more than the 7,840 required.

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Majority favours later retirement for women, according to survey

2018-07-27

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2018-07-27

In Switzerland, the official retirement age for women is 64, a year earlier than it is for men. A poll by gfs.bern shows that around two thirds are in favour of raising the retirement age of women to 65. Only 16% are against the idea, with a further 18% somewhat against it. Men (78%) are more in favour of the change than women (54%), according to the newspaper 20 Minutes.

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TV Recording could be under threat in Switzerland

2018-07-08

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2018-07-08

Fast-forward
With TV recording there’s no need to miss programmes just because they’re on at the wrong time. And, when it’s time to watch them, it’s easy to fast forward through the adverts, something that can’t be done when watching live. In Switzerland, television recording is offered by big distributers, such as Swisscom, Sunrise and UPC. Broadcasters don’t provide it.

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Swiss VAT might rise to fund lower company tax rates

2018-07-05

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2018-07-05

Historically, Switzerland has offered certain foreign companies special preferential tax deals in order to attract them. In response to international pressure, the current system is to be phased out replacing preferential tax rates with lower universal ones in the hope that these companies will stay.

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The price of solidarity – Switzerland’s inter-cantonal payments for 2019

2018-06-20

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2018-06-20

Switzerland - inter cantonal transfers in 2019 - CHF 000s
In Switzerland, much in life revolves around the canton. Cantons have their own health, social and education systems, parliaments and tax rates. Federal government, based in Bern, is a layer that sits over the top, bringing the cantons together as Switzerland.

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Swiss Offshore Wealth Management Sector still World’s Largest by far

2018-06-18

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2018-06-18

Wealth-management-Switzerland
A report by The Boston Consulting Group highlights the size of Switzerland’s personal offshore wealth management sector. Total personal offshore wealth grew by 6% to reach US$8.2 trillion in 2017. US$2.3 trillion (28%) of this was managed in Switzerland. The top three offshore centres: Switzerland ($2.3 trillion), Hong Kong ($1.1 trillion) and Singapore ($0.9 trillion) made up more than half (52%) of the total.

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Vaud Plans Tax Cuts

2018-06-13

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2018-06-13

Lausanne
The residents of Vaud are among the highest taxed in Switzerland. In 2016, a single person in Lausanne earning CHF 100,000 paid CHF 16,050 in cantonal and communal tax on top of CHF 1,840 of federal tax. This was the fourth highest across all of Switzerland’s 26 cantonal capitals, and almost triple Zug, the lowest, where the figure was CHF 5,750 – see chart below.

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Swiss pensions – lump sum withdrawal restrictions rejected by Council of States

2018-06-12

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2018-06-12

Against the wishes of the Federal Council, Switzerland’s upper house, the Council of States, rejected a plan to prevent people from withdrawing lump sums from their 2nd Pillar pensions, according to the newspaper Tribune de Genève. Last week, the Council of States voted 25 to 15 to reject the plan.

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No relief for Swiss renters

2018-06-06

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2018-06-06

Every three months the rate of interest used to set Swiss rents is reviewed. If it goes down some renters have the right to request a decrease in rent. This time it remained at 1.50%. The last time it dropped was 1 June 2017 when it fell to its lowest level since 2008.

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Fribourg – moves to axe government pensions for life

2018-05-22

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2018-05-22

Fribourg
Switzerland’s government is working hard to find ways to fix a looming state pension shortfall. Two politicians in the canton of Fribourg have decided to seek savings by attempting to cut lifetime government pensions granted after short stints in the job, according to the newspaper 20 Minutes.

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Switzerland’s vote to change its monetary system – sensible or silly?

2018-05-21

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2018-05-21

Swiss franc
Sometimes Swiss voters are presented with questions that only specialists are equipped to answer. The vote on 10 June 2018 to change their monetary system appears to be one of these. On the surface it appears simple. Upon closer inspection it contains much complexity and uncertainty, compounded by a widespread misunderstanding of how the financial system works – banks do not act simply as intermediaries, lending out the deposits that savers place...

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Swiss Rail drops plan to put Wi-Fi in trains

2018-05-20

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2018-05-20

Swiss Rail wifi
Swiss Rail has dropped plans to install Wi-Fi in its trains, according to the newspaper Le Matin. After a survey revealed that customers would only use on-board Wi-Fi it was free, the company decided there was no justifiable way to cover the cost, according the the newspaper. Swiss Rail is not prepared to bear the costs the mobile operators would charge them for the service and cannot not justify adding the cost to ticket prices.

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Disability welfare – fraud investigations expected to save 170 million

2018-05-19

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2018-05-19

By January 2018, the number receiving disability welfare in Switzerland had dropped to 217,200, 40,300 fewer than in 2006 when the number reached a record 257,500. Switzerland’s Federal Social Insurance Office (FSIO) attributes the reduction to an occupational rehabilitation programme started in 2008, and disability welfare fraud investigations.

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Child care tax deductions set to rise in Switzerland

2018-05-17

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2018-05-17

Switzerland’s Federal Council, or cabinet, plans to increase the maximum annual deduction for child care costs to CHF 25,000 per child, up from CHF 12,100. This would allow parents to deduct up to this amount from their income for federal tax purposes but would not affect canton and commune taxes. Deductions could not exceed the amount spent.

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Internships – Switzerland’s Young Socialists caught preaching one thing and practicing another

2018-05-15

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2018-05-15

Intern Young Socialists
In collaboration with the Swiss union Unia, Switzerland’s Young Socialists have launched a protest against the exploitation of interns. To get on the career ladder, many young people feel compelled to take internships offering little or no pay. The Young Socialists are demanding interns be better paid. Recent data from the Federal Statistical Office shows that 23% of young workers (15-24) are on short-term contracts, 41% of them interns.

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Switzerland most expensive for meat

2018-05-09

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2018-05-09

Chicken
Switzerland has the world’s most expensive meat according to a survey compiled by Caterwings in Germany. The survey, which looks at meat prices in 52 countries, ranks Swiss prices at the top across all meat categories. On average, Swiss shoppers pay 142% more than the average across all meat categories.

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