Ticino Voters Decide on Cantonal Pension Fund
Published: Tuesday, Oct 17th 2023, 20:50
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The people of Ticino have the final say in the dispute over the proposed pension cuts for cantonal employees. On Tuesday, the Grand Council of Ticino decided that the sovereign should decide on an increase in contributions proposed by the government. According to the government proposal, the increase in the retirement capital should be financed by both the employer (the canton) and the employees. The pension level should remain for those who have at least 40 years of employment. For employees with a short employment period, the pension cut will be limited to a maximum of two percent. The Grand Council of Ticino gave the proposal the green light on Tuesday, but at the same time voted in favour of a decision at the ballot box as part of the indirect obligatory financial referendum. This means that the people of Ticino have the last word on compensation measures for the pensions of cantonal employees. The planned pension cut is expected to come into effect in 2024 and will affect around 17,000 insured persons at the cantonal pension fund. It is feared that pensions could be cut by up to 40 percent. The announced pension cut has repeatedly mobilised the cantonal employees of Ticino in the past. At the start of the cantonal council session on Monday, opponents of the pension cut took to the streets of Bellinzona for the second time, and in May around 600 teachers took part in a strike. The people of Ticino will now have the final say on the proposed pension cuts.
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