Tuesday, June 05, 2018

Switzerland: Survey Finds Majority of Employees Retiring before Reaching Retirement Age

According to Swissinfo.ch, the NZZ am Sonntag newspaper has reported that 58% of Swiss employees stop working before the official retirement age in Switzerland. The survey conducted by the Swisscanto pension fund specialist found that only 32% continue to retirement age (65 for men and 64 for women), and just 10% carry on working beyond that age.
NZZ am Sonntag said the high number of people taking early retirement is rather surprising. The trend goes against current political thinking, which is towards raising the retirement age because of funding problems in the state pension scheme. According to the survey, raising the retirement age to over 65 is likely to continue meeting strong public resistance.
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Swisscanto board member René Raths also expressed concern to the newspaper. He says that longer life expectancy means longer retirement, and that in 2035, there will be only 2.3 working people funding one pensioner, compared with nearly 4 at present.

Source: Swissinfo.ch "Majority of Swiss opt for early retirement, says survey" (June 3, 2018)

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