A recent report by the government that collected data from a sample of Swiss pension funds shows a significant deterioration in the financial health of Switzerland’s 2nd pillar pension funds over the first half of 2022. Inflation, higher interest rates and falling stock markets have hit the fortunes of the funds. By the end of […]
Swiss rush to buy wood as gas crisis looms
Despite the current heatwave residents of Switzerland have not forgotten about how they might heat themselves over winter. With gas shortages looming and persistently high heating oil and gas prices, some are stockpiling wood. Increased demand for wood is pushing prices higher. Wood prices have already risen 10%, according to RTS. Some vendors have never […]
The online retail fraud made possible by Swiss billing system
In Switzerland it is possible to order goods online without paying up front. Retailers will send orders with a payment slip included with the goods. Fraudsters are exploiting this quirk of Swiss postal retail. Fraudsters order goods online pretending to be someone else. The goods are then shipped without the need to provide any payment […]
Nearly 1 in 6 lives in a household with outstanding debts in Switzerland
Even before high inflation hit people’s pockets many Swiss households were over extended. In 2020, almost one in six residents lived in a household with debt arrears, according to data released this week by the Federal Statistical Office (FSO). The most common overdue payments were taxes (7.5%), health insurance premiums (5.5%), phone bills (4.1%), utility […]
Swiss inflation up again in June 2022
On 4 July 2022, Switzerland’s Federal Statistical Office (FSO) published June inflation data, which show prices 3.4% higher than one year ago, well above the Swiss National Bank target of 2.0%. Switzerland’s consumer price index (CPI) increased by 0.5% in June 2022, less than the 0.7% rise in May 2022. At the end of May […]
Swiss minister asks public to reduce their heating next winter
Switzerland faces a potential gas shortage next winter, warns Switzerland’s Federal Council. Reduced consumption or rationing cannot be ruled out, it warns. At a press conference in Bern on Wednesday, economy minister Guy Parmelin said that there is a very real risk of a gas shortage over winter, reported RTS. Around three quarters of the […]
Swiss Franc worth more than a Euro
This week, the Swiss franc rose to beyond parity with the euro as traders sought safe haven assets as concerns about risks to global growth grew. The Euro-Swiss Franc pair fell below 1.00 franc per euro during the morning of 29 June 2022 and remained below 1.00 until the morning of 1 July 2022 when […]
Concert tickets up to 77% more expensive in Switzerland
A survey found that the Swiss pay far more for concert tickets that their European neighbours. And the differences are significant, with Swiss price premiums ranging from 40% to 77% depending on the performer, reports RTS. According to Bon à Savoir, the consumer association behind the survey, there are many examples of inflated Swiss concert […]
Finance minister thinks Switzerland needs to cut public spending
Ueli Maurer, Switzerland’s finance minister, is concerned about Switzerland’s finances after a recent round of decisions to substantially increase public spending. During June 2022, Switzerland’s parliament agreed to significant increases to spending on the army, healthcare and the environment. The situation is not sustainable Maurer told SRF. In June, parliament agreed to boost military spending […]
Higher federal tax deductions for health insurance announced
The cost of Swiss health insurance has risen sharply over the years. However, the amount that can be deducted from income to calculate federal taxes has remained comparatively low. This week, Switzerland’s parliament voted in favour of closing the gap between the standardised health insurance tax deductions and what people actually pay, reported RTS. The […]
