Swiss money is about to change. On 12 April 2016, the Swiss National Bank (SNB) will put a new 50-franc note into circulation. The new 20-franc note will be released the following year, and the other four denominations – 10, 100, 200 and 1,000, at half-yearly or yearly intervals after this date, with the last hitting […]
Swiss real estate heads further towards bubble territory
Last week UBS released its real estate bubble index for the last quarter of 2015. According to the bank, the risk moved from 1.34 in Q3 2015, to finish the year at 1.41. Anything over 1.0 is considered risky and anything beyond 2.0 is bubble territory. Before property prices crashed in the 1990s, the index rose […]
Inequality in Switzerland
The Swiss federal statistics office has published the latest data on income inequality in Switzerland. The figures look at income and show how it is spread across the population. They also show the leveling effect of government redistribution. There is much talk about the haves and have-nots at this time of the year. Ahead of the WEF gathering in […]
Oxfam list of the 62 richest who own as much as the 50% poorest
Oxfam list of 62 richest who together own as much as the poorest 50%. Together these 62 are worth US$ 1,762 billion. This represents 0.7% of the world’s total US$ 250 trillion wealth – estimate by Credit Suisse. The driving forces behind these enormous fortunes are typically, brands that have gone global like Mars, Zara or Nutella, […]
Billions of francs of unclaimed Swiss pensions – could some of it be yours?
24 Heures. You are working in Switzerland, find a new job in another country, leave in a whirlwind and forget to tell your work’s pension provider you are moving. If this sounds familiar then there could be a pot of forgotten Swiss pension money with your name on it sitting unclaimed in a special fund. […]
Median Swiss salary up and well ahead of the US and UK
Switzerland’s median gross salary rose in the two years to 2014. 50% of salary earners earn less than the median while 50% earn more. In addition, the gap between the top 10% of earners and the bottom 10% shrunk. The Swiss median salary climbed to CHF 6,189 per month. This represents CHF 74,268 annually and […]
Bad news for savers. Swiss pension rates cut.
This morning the Swiss federal council, the 7-member executive branch of Switzerland’s government, decided to reduce the minimum interest rate pension funds must pay savers. Starting on 1 January 2016, the minimum rate will be 1.25% instead of the current minimum of 1.75%. On 30 August 2015, the federal pensions commission decided by a large […]
Young Swiss have lost all confidence in retirement
20 Minutes. A survey by the newspaper 20 Minuten, reveals that only 12% of those under 30 expect to be able to retire. More than half expect to have to work until 70. Nine out of ten are concerned about AVS provisions and only 2.1% are certain there will be enough money. 26% think it […]
Swiss health premium increases spark shock and anger
On 24 September 2015 the Federal Public Health Office (OFSP) announced basic Swiss health insurance premium increases for 2016. Many are in a state of shock. The average increase across all cantons and insurance companies is 4%, however this number masks huge rises for some. Increases vary significantly by canton, insurance company, level of deductible […]
Swiss health insurance: low cost Assura gets expensive
24 Heures. Assura, the health insurer based in the French-speaking part of the country, pioneered low cost health insurance and is now the lowest cost option in 23 cantons. It is also one of the largest insuring around 910,000 people across the Swiss nation including a quarter of Geneva and Vaud residents. According to the […]
