More and more people 65 and older are continuing to work across the OECD. The reasons for working beyond this particular point in life vary from person to person. Labour force participation among this age group across the OECD ranges from 2.4% (Romania) to 41.7% (Indonesia). In Switzerland, the rate was 11.1% in 2020, higher […]
Swiss rate hike ends negative rates in Europe
On 22 September 2022, the Swiss National Bank (SNB) bumped its policy interest rate up by 0.75 percentage points to 0.5%. The move pushed the Swiss Franc down by around 2% against the euro. The recent hike brings Europe’s experiment with negative interest rates to a close. Only Japan now has a negative rate. The […]
Swiss to vote on government’s pension reform plan
Across much of the developed world pension finances are getting squeezed as populations age, baby boomers in particular. Switzerland’s government has a reform plan. However, some who don’t like it called a referendum to oppose it. Arguments for and against the changes are being aired before a vote on 25 September 2022. The proposed changes, […]
Sharp rise in Swiss health premiums inevitable, says association
This week, less than a month before next year’s health insurance premiums are unveiled, santésuisse, a health insurance association, warned of unusually high hikes in the cost of Switzerland’s compulsory health insurance for 2023, reported RTS. Healthcare costs rose 6.4% in 2021 and are expected to rise 4% in 2022 and 2023, said santésuisse in […]
Swiss electricity prices to rise as much as 280% in 2023
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. However, there will be big differences depending on where you are. In […]
Swiss government launches energy saving campaign
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. The government stressed that there was currently no energy shortfall. However, Simonetta Sommaruga, the minister in charge of energy, said it was important to cut energy consumption to avoid […]
Swiss inflation up slightly in August 2022
Figures published by Switzerland’s Federal Statistical Office (FSO) on 2 September 2022 show annual inflation running at 3.5% in August, up from 3.4% in July. Switzerland’s consumer price index (CPI) was up slightly in August 2022 compared with the previous month, and 3.5% higher compared with the same month of the previous year, said FSO. […]
The 3 biggest current concerns in Switzerland, based on survey
According to a recent survey, health costs, pensions and climate change and the three greatest concerns among Switzerland’s population. The online survey published by Tamedia on 26 August 2022 looks at support for the main political parties along with the main concerns of voters. Since the previous survey on 5 January 2022, support for the […]
Swiss to vote on marriage tax penalty
In Switzerland, marriage can increase the amount of tax a couple pays, something referred to as the marriage penalty. Higher tax is levied on married couples because they are assessed on their combined income rather than separately. Another argument against the current system is that it presents an economic barrier for second income earners who […]
Swiss government sets 15% gas saving target
This week, the federal government fixed a voluntary objective for Switzerland to reduce gas consumption by 15% over the coming winter, according to RTS. The Federal Council’s 15% gas saving objective, announced on 24 August 2021, covers the period between October 2022 and March 2023. The EU has set the same objective. Switzerland produces no […]
