Voters reject higher retirement age by three-quarters majority
Published: Sunday, Mar 3rd 2024, 17:30
Updated At: Monday, Mar 4th 2024, 00:59
العودة إلى البث المباشر
The retirement age for men and women will not be raised for the time being. The Swiss electorate clearly rejected a popular initiative by the Young Liberals, which initially proposed a retirement age of 66 and then linking it to life expectancy.
According to the final results from the cantons, a majority of 74.7 percent voted against the proposal. In absolute figures, around 2,392,500 voters were against and 809,400 in favor. The turnout was 57.4 percent.
A look at the voting map shows a rare unanimity. Like parliament and the Federal Council, all cantons rejected a higher retirement age. Even the canton of Zurich, which had the lowest proportion of "no" votes in Switzerland, rejected the pension initiative with 69.5%. In the canton of Vaud, the proposal was most clearly rejected with 85.1%.
No surprise
The no vote is not surprising. Although the supporters had recently gained votes, the opponents of the bill were always clearly in the majority. The last polls before the vote had assumed a No vote share of over 60%, but the final result was even clearer.
During the referendum campaign, the bill remained in the shadow of the other initiative on old-age provision, that for the 13th AHV pension. The proponents and opponents also invested significantly less money in their campaigns in terms of budget, with the Yes camp clearly ahead in terms of expenditure. The initiative committee had around one million francs in campaign funds at its disposal.
Majority against automatism
The pension initiative was launched by the Young Liberals. As a first step, it called for an increase in the retirement age for women and men to 66 by 2033, after which the retirement age should be linked to life expectancy, as is already the case in some European countries.
The SVP, FDP and renowned business associations supported the initiative. They warned that without a new AHV reform, the financing and long-term security of old-age provision would be at risk because the population is getting older and older. Instead of increasing salary contributions or reducing pensions, the retirement age should be increased. This would structurally restructure the social security system and secure it financially in the long term.
The SP, Center Party, Greens, GLP and trade unions voted against. The opponents argued that the demographic challenge facing the AHV could not be solved by raising the retirement age alone. They also criticized the fact that the initiative provided for an automatic retirement age that was incompatible with Switzerland's political system. A political discussion on the retirement age must be possible.
Increase not capable of gaining a majority
This discussion about a higher retirement age has not been put on hold following the "no" to the pension initiative, but merely postponed. The next AHV reform for the period from 2030 is already in the pipeline. A higher retirement age is also likely to be discussed in this context.
"We won't be able to avoid discussing an increase in the retirement age," said co-initiator Matthias Müller from the Young Liberals after the referendum defeat. This applies all the more after the Yes to the 13th AHV pension. The demand for one may not be "sexy, but it is factually correct and sensible".
For Flavia Wasserwallen, member of the Bernese SP Council of States, one thing is clear: "With the clear 'no' to the pension initiative, the issue is off the table for the next few years." A general increase in the retirement age is obviously not capable of winning a majority.
Pressure to reform remains
In the future, the topic of a differentiated retirement age with a so-called lifetime working period could come up again. Representatives of the conservative parties expressed this view on the Sunday of the vote. There is a consensus that the future financing of the AHV will have to be discussed all the more after the Yes to the 13th AHV pension.
The AHV works according to the pay-as-you-go principle: the contributions paid in by those in employment are paid out to pensioners as a pension. Due to increasing life expectancy and the growing number of pensioners - not least because of the retirement of the baby boomers - the AHV is likely to run into financial difficulties because fewer working people will have to finance more pensioners.
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