Majority of Swiss fear loss of prosperity in old age
Published: Tuesday, Aug 27th 2024, 10:20
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The majority of Swiss people expect a loss of prosperity after retirement. People on low incomes and women in particular are worried about their retirement.
This is according to the "Retirement Monitor" published by insurer Axa. A total of 1,200 people from the Swiss population were surveyed.
According to the survey, 70 percent of respondents fear that they will have to reduce their current standard of living with money from the AHV and pension fund alone. However, attitudes vary greatly depending on gender and income bracket.
On average, men rate their financial security as better than women. Unsurprisingly, people from lower socio-economic backgrounds are also particularly pessimistic. The average response was 3.3 on a scale from 1 = "not good at all" to 10 = "very good".
Majority wants to save money
Only 12% of low earners expect to be able to maintain their standard of living with state and occupational pension provision. In the upper middle class, the figure is 39%.
To improve their prospects, most respondents want to save money, for example by making tax-privileged payments into the 3rd pillar or buying a home. However, according to the authors of the study, this is mainly possible for the upper income brackets.
As an alternative, however, almost two thirds can also imagine continuing to work beyond retirement age, according to the study. However, this is not only out of financial necessity, but also out of pure enjoyment of the work.
©Keystone/SDA
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