The Swiss government accounts for CHF 4 billion in pension expenditure
The Swiss government has admitted to a mistake in calculating pension expenditures, amounting to nearly four billion Swiss francs (4.2 billion euros).
In 2033, the expenditures for the Swiss pension system are expected to be around four billion Swiss francs lower than previously calculated, according to the Federal Social Insurance Office, which announced this on Tuesday. This discrepancy represents approximately six percent.
Left-wing parties and trade unions reacted to the calculation error with harsh criticism. The Swiss Trade Union (SGB), the country's largest labor organization, stated that this calls into question the very close result of a referendum on increasing the retirement age for women. "The federal government has significantly influenced pension policy with its negative scenarios and exerted considerable pressure for cuts," it continued.
In 2022, the Swiss population narrowly voted in favor of increasing the retirement age for women by one year to 65. Following the revelation of the calculation error, the Green Party announced on the online platform X that it would consider challenging the referendum, which was passed with a narrow majority of just 50.5 percent. The Social Democrats expressed shock and called for a re-run of the referendum.
Meanwhile, the Swiss government has announced an investigation into the incident.
The federal government's admission of a pension expenditure calculation mistake has led the Green Party to consider challenging the referendum on increasing the retirement age for women. The Social Democrats have also called for a re-run of the referendum due to the error.
