Swiss government outlines proposal to fund ‘13th month' pension rise

The Swiss government has outlined its plan to finance the 13th month pension payment initiative, which was approved by a majority of Swiss voters on March 3. It will be paid once a year and will be funded by a rise in employee contributions and, possibly, a rise in value-added tax (VAT), the Federal Council said on Wednesday. The 13th pension payment initiative, launched by Swiss trade unions, was accepted by over 58% of Swiss voters on March 3, 2024. It is due to come into force in 2026. It is estimated...