Berliner Boersenzeitung - Swiss narrowly back hiking retirement age for women

EUR -
AED 4.276798
AFN 76.973093
ALL 96.541337
AMD 443.660189
ANG 2.0846
AOA 1067.888653
ARS 1669.958677
AUD 1.752514
AWG 2.096182
AZN 1.984351
BAM 1.955625
BBD 2.34549
BDT 142.477215
BGN 1.956439
BHD 0.439061
BIF 3440.791247
BMD 1.164546
BND 1.508565
BOB 8.047278
BRL 6.334667
BSD 1.164496
BTN 104.702605
BWP 15.471612
BYN 3.348
BYR 22825.091832
BZD 2.34209
CAD 1.610159
CDF 2599.265981
CHF 0.936209
CLF 0.027366
CLP 1073.571668
CNY 8.233458
CNH 8.232219
COP 4424.302993
CRC 568.848955
CUC 1.164546
CUP 30.860456
CVE 110.255106
CZK 24.203336
DJF 207.371392
DKK 7.470448
DOP 74.533312
DZD 151.505205
EGP 55.295038
ERN 17.468183
ETB 180.629892
FJD 2.632397
FKP 0.873977
GBP 0.872973
GEL 3.138497
GGP 0.873977
GHS 13.246811
GIP 0.873977
GMD 85.012236
GNF 10119.091982
GTQ 8.9202
GYD 243.638138
HKD 9.065875
HNL 30.671248
HRK 7.535429
HTG 152.446321
HUF 381.994667
IDR 19435.740377
ILS 3.768132
IMP 0.873977
INR 104.760771
IQD 1525.563106
IRR 49041.926882
ISK 149.038983
JEP 0.873977
JMD 186.393274
JOD 0.825709
JPY 180.924237
KES 150.636483
KGS 101.839952
KHR 4662.581612
KMF 491.43861
KPW 1048.137083
KRW 1716.311573
KWD 0.357481
KYD 0.970513
KZT 588.927154
LAK 25252.733992
LBP 104283.942272
LKR 359.197768
LRD 204.961608
LSL 19.736529
LTL 3.438601
LVL 0.704422
LYD 6.330432
MAD 10.755735
MDL 19.814222
MGA 5194.533878
MKD 61.634469
MMK 2445.172268
MNT 4132.506664
MOP 9.338362
MRU 46.438833
MUR 53.651052
MVR 17.938355
MWK 2019.3188
MXN 21.165153
MYR 4.787492
MZN 74.426542
NAD 19.736529
NGN 1688.68458
NIO 42.856154
NOK 11.767853
NPR 167.523968
NZD 2.015483
OMR 0.447772
PAB 1.164595
PEN 3.914449
PGK 4.941557
PHP 68.66747
PKR 326.476804
PLN 4.229804
PYG 8009.281302
QAR 4.244719
RON 5.092096
RSD 117.389466
RUB 88.93302
RWF 1694.347961
SAR 4.370508
SBD 9.584899
SCR 15.774978
SDG 700.4784
SEK 10.946786
SGD 1.508673
SHP 0.873711
SLE 27.603998
SLL 24419.93473
SOS 664.340387
SRD 44.985272
STD 24103.740676
STN 24.497802
SVC 10.190086
SYP 12876.900539
SZL 19.72123
THB 37.119932
TJS 10.684641
TMT 4.087555
TND 3.416093
TOP 2.803946
TRY 49.523506
TTD 7.894292
TWD 36.437508
TZS 2841.64501
UAH 48.888813
UGX 4119.630333
USD 1.164546
UYU 45.545913
UZS 13931.74986
VES 296.437311
VND 30697.419423
VUV 142.156724
WST 3.247609
XAF 655.898144
XAG 0.019993
XAU 0.000277
XCD 3.147243
XCG 2.098812
XDR 0.815727
XOF 655.898144
XPF 119.331742
YER 277.802752
ZAR 19.711451
ZMK 10482.311144
ZMW 26.923584
ZWL 374.983176
  • RBGPF

    0.0000

    78.35

    0%

  • BCE

    0.3300

    23.55

    +1.4%

  • CMSD

    -0.0700

    23.25

    -0.3%

  • BCC

    -1.2100

    73.05

    -1.66%

  • NGG

    -0.5000

    75.41

    -0.66%

  • SCS

    -0.0900

    16.14

    -0.56%

  • CMSC

    -0.0500

    23.43

    -0.21%

  • RELX

    -0.2200

    40.32

    -0.55%

  • VOD

    -0.1630

    12.47

    -1.31%

  • RIO

    -0.6700

    73.06

    -0.92%

  • RYCEF

    -0.0500

    14.62

    -0.34%

  • GSK

    -0.1600

    48.41

    -0.33%

  • BP

    -1.4000

    35.83

    -3.91%

  • AZN

    0.1500

    90.18

    +0.17%

  • BTI

    -1.0300

    57.01

    -1.81%

  • JRI

    0.0400

    13.79

    +0.29%

Swiss narrowly back hiking retirement age for women
Swiss narrowly back hiking retirement age for women / Photo: Fabrice COFFRINI - AFP

Swiss narrowly back hiking retirement age for women

Swiss voters on Sunday accepted by a hair a divisive pension reform plan, which will raise women's retirement age to the same as men's, but snubbed a push to ban factory farming

Text size:

Final results showed a tiny majority of Swiss approved a government plan to reform the country's pension system for the first time in more than a quarter of a century.

Bern has long argued the need to "stabilise" the country's old-age security system, under pressure as life expectancy rises and the giant baby boomer generation reaches retirement age.

After failing twice to get the approval needed for similar plans, in 2004 and 2017, two separate votes on different aspects of the reform passed Sunday.

Just 50.57 percent of Swiss agreed to the most controversial part of the reform, involving hiking women's retirement age by one year.

This means women will need to work until the age of 65 before receiving a full pension, bringing them en par with their male counterparts.

A separate vote on boosting funding for the reform through a sales tax hike meanwhile passed with 55 percent in favour.

Parliament approved the key measures last year, but left-leaning parties and unions decried the reform "on the backs of women" and pushed the issue to a referendum under Switzerland's direct democratic system.

Backers of the reform argued that it was reasonable for men and women to retire at the same age, with Celine Amaudruz, vice president of the populist rightwing Swiss People's Party hailing the vote as "a first step towards permanence" for the old-age insurance system.

- 'Slap in the face' -

But Sunday's decision sparked outrage from the plan's opponents.

The Swiss Socialist Party's women's group immediately announced a demonstration in Bern on Monday, warning the plan would dramatically cut women's already inferior pension income.

"Women's pension income will be reduced by 7 billion Swiss francs ($7.1 billion) over the next 10 years: a slap in the face of all women," it said in a statement.

Opponents argued that women face significant discrimination and a broad gender pay-gap in Switzerland, and thus receive far smaller pensions than men, demanding such issues be addressed before hiking their retirement age.

In 2020, women in Switzerland on average received pensions nearly 35 percent smaller than men, according to the Swiss economy ministry.

Polls ahead of Sunday's vote revealed deep divisions between the sexes, with around 70 percent of men questioned in favour and close to 60 percent of women opposed.

Sunday's results were not immediately broken down by gender, but did show a dramatic divide between different Swiss regions.

While Switzerland's German-speaking part was overwhelmingly in favour of the reform, the French and Italian-speaking parts were staunchly opposed, with nearly 63 percent of Geneva voters voting "no" and more than 70 percent in Jura canton.

Pierre-Yves Maillard, head of the Swiss Trade Union Federation, warned that the deep divide seen between the sexes and the regions on such an important issue was "not good politics."

"It will leave a trace," he told the Keystone-ATS news agency.

- Factory farming ban rejected -

Another hotly debated issue on Sunday's ballot, a proposed ban on intensive livestock farming, was meanwhile rejected.

Final results showed just over 63 percent of voters voted "no" to the popular initiative by animal rights and welfare organisations.

The backers of the initiative had wanted to make protecting the dignity of animals like cattle, chickens or pigs a constitutional requirement.

Their initiative would have imposed stricter minimum requirements for animal-friendly housing and care, access to outdoors and slaughtering practices, essentially outlawing factory farming.

The government and parliament opposed the initiative, insisting that Switzerland already has among the world's strictest animal welfare laws, and that tightening the rules would significantly hike prices.

Backers of the initiative said Sunday they were pleased the campaign had at least raised awareness about the issue.

"All of Switzerland has discussed the problems linked to intensive livestock farming and our meat consumption," Vera Weber, head of the Franz Weber Foundation, told RTS.

"For us, it is in any case a victory."

Voter participation Sunday ticked in at over 52 percent, above the usual ceiling of around 50 percent.

(O.Joost--BBZ)