A report published by the Swiss Federal Office of statistics, shows that only 4.3% of full-time1 workers earn CHF 3,000 or less per month2. The monthly figure is net of social security deductions, but includes one twelfth of the 13th bonus month typically paid in Switzerland. CHF 3,000 per month is CHF 36,000 a year, […]
More than 3,000 state beneficiaries in Geneva admit not declaring assets or other income
Tribune de Genève. Last October, Geneva state councillor Mauro Poggia, had his department send out close to 91,000 letters to those receiving social benefits, asking them to contact the authorities if they had failed to declare any assets or income. Laurent Paoliello, a spokesperson from the DEAS, said they received 3,200 letters back. So far, […]
Those over 25 may pay more for Swiss health insurance
20 Minutes. The Swiss States Council commission on public health endorsed a plan that could lead to higher health insurance premiums for those over 25. Swiss health insurance providers are required to pay into a communal pot to spread risk between insurance companies. The latest plan would reduce the amounts paid into this communal pot for every […]
Swiss franc less overvalued according to latest Big Mac index
On 12 January 2017, the Economist came out with its latest Big Mac index. Also known as the burger benchmark, the index compares the price of a Big Mac around the world. This catchy, if highly incomplete means of comparing the relative purchasing power of different currencies, uses the United States and the US$ as its […]
Changes to health insurance zones could lead to steep premium rises for some
In Switzerland, how much you pay for compulsory health insurance depends on where you live. Premiums vary hugely by canton. For 2016, average monthly adult premiums in Basel City are CHF 545.60, Switzerland’s most expensive, compared to CHF 326.70, in lowest-cost Appenzell-Innerhoden. The difference between the two cantons is 40%. In addition to big differences between […]
Swiss mortgage rates climb in 4th quarter
20 Minutes. After reaching a historical low in the third quarter of 2016, rates started rising in the fourth quarter. Rate increases hit mortgage tenors of five and ten years. Compared to Q3, fixed mortgage rates on loans of ten years went up an average 0.2% to 1.62% according to price comparison website Comparis.ch. Five […]
Tax declarations found in a skip in Schaffhaussen
20 Minutes. Hundreds of tax declarations containing private information were found discarded in a skip in the Swiss canton of Schaffhausen. The tax returns, with clearly visible data, were thrown out by the city according to 20 Minutes. The tax returns date from 2006. The person in charge of data protection for the canton, spoke […]
Someone found 50,000 francs outside a train station and handed it in to the police
24 Heures. Last week someone passing through Basel train station found an envelope when entering the station. To her surprise it contained 50,000 francs. The woman who found the cash was a 22 year old from France. She went to the police station last Wednesday after finding the envelope on Tuesday. According to Blick, The […]
Switzerland’s costliest cantons for tax, housing, health, commuting, and childcare
This week the bank Credit Suisse published its cantonal cost of living report. Its ranking considers a typical household’s biggest expenses: tax, housing, commuting, basic health insurance and childcare. It takes income and deducts all of these costs to arrive at a measure of disposable income. In a simplified world it might be expected that […]
Migros Bank could pass on negative interest rates
20 Minutes. Because of negative interest, even a savings account earning 0% interest is earning too much reckons the bank’s boss. Soon many banks will be passing on some of the cost of negative interest to their clients, reports 20 Minutes. Migros Bank will need to seriously consider doing the same in 2017. The bank’s boss Harald […]
