Married couples in Switzerland are taxed together on their combined income, something that is not applied to unmarried couples who are taxed individually. This often acts as a tax disincentive for one member of a married couple to work, disproportionately affecting women. Politicians and organisations focused on improving women’s career chances would like to see […]
Swiss parliament passes work-related pension reforms
Switzerland’s much discussed work pension reform was accepted by parliament this week after a number of changes, reported Parlament.ch. Like Switzerland state pension, compulsory work pensions are under strain as the population ages and people live longer. This week, Switzerland’s parliament voted 113 versus 69 in favour of a package of reforms. Key reforms include […]
Home ownership now more expensive than renting in Switzerland
Buying has become much more expensive than renting in Switzerland, according to a report by the bank Credit Suisse. The market for owner-occupied homes is currently undergoing a reversal of fortunes, triggered by the spike in mortgage interest rates in 2022, said the bank. Although owners enjoyed unprecedented low mortgage rates for a decade, rates […]
Switzerland’s rent rate comes close to rising
Four times a year the rate of interest used to set the rents in Switzerland is reviewed. If the aggregate average mortgage rate goes down some renters can request lower rent. If it goes up some landlords can raise rents. This time the rate remained at 1.25%, however it was close to moving to 1.5%. […]
Swiss government backtracks on pension increase
In December 2022, parliament sent a recommendation to the Federal Council to increase state pensions by the rate of inflation. However, this week a parliamentary majority voted not to, reported RTS. The Federal Council had already boosted state pensions by 2.5% from 1 January 2023 before calls were made to bump them up by 2.8% […]
Swiss inflation accelerated in January 2023
Upward pressure on prices continues in Switzerland. Recently published data show annual inflation rising to 3.3% to the end of January 2023, up from 2.8% at the end of 2022. Public sector workers in parts of Switzerland have been demanding salary increases. In Vaud they have been demanding indexation. Looking back across a longer period […]
Swiss government confirms first underlying deficit since 2005
On 15 February 2023, Switzerland’s federal government published finalised figures showing it spent CHF 4.3 billion more than it received in 2022. Excluding extraordinary expenses related to the Covid pandemic left an underlying operating deficit of CHF 1.9 billion, the first shortfall of this kind since 2005. Switzerland’s federal government is required to operate under […]
Migros Bank to end nighttime cash withdrawals after spate of bank machine attacks
After a rising number of attacks on cash machines across Switzerland, Migros Bank has decided it will probably close all of its machines overnight, reported RTS. Last year, at least 38 cash dispensing machines were blown up and robbed across Switzerland. The most recent attack at the end of January 2023 was on a machine […]
Reservations on Booking.com can cost 50% more in Switzerland
Since 1 December 2022, contracts that online platforms often get hotels to sign to stop them offering prices lower than those offered via the platform are no longer legally enforceable in Switzerland due to a change in law. This week, broadcaster RTS published the results of a market test it performed to see if the […]
Record number of recreation-related accidents in Switzerland in 2022
Accident insurer Suva recorded a record number of recreation-related accidents in 2022, reported RTS. Suva, a not-for-profit insurance company in Switzerland, insures around 2 million individuals in Switzerland every year. In 2022, it recorded around 290,000 non-work related accidents, a record figure, 14% higher than in 2021 and 4% higher than before the pandemic in […]
