“Political earthquake”: newspapers' reaction to the Swiss retirement vote

Many retirees in Switzerland struggle to meet their basic needs

Foreign and local media are talking about a “political earthquake” and “shock” following the decision of Swiss voters on Sunday in favor of a 13th monthly pension payment.

This content was published on 04 March 2024 – at 14:40

Thomas Stevens

Born in London, Thomas worked as a journalist at The Independent before moving to Bern in 2005. He speaks all three official Swiss languages ​​and enjoys traveling the country and practicing it, especially in bars, restaurants and ice cream shops.

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“Which would you rather have: more money or more work?” This, according to the newspaper Neue Zürcher Zeitung (NZZ), is probably how most voters interpreted the two popular initiatives on Sunday (they also rejected raising the retirement age from 65 to 66). “From a narrow economic perspective, this is not a surprise: yes to higher pensions, no to higher retirement ages.”

However, for Le Mondeexternal link in France, this “shocking vote” was a “serious setback” for the Swiss government and right-wing political parties, whose “many warnings were in vain.” The newspaper described the “astonishing” victory of the left forces as “a real political earthquake in a country where the seismograph is usually flat.”

However, she said Switzerland was “still a long way from becoming the kind of social ‘self-service’ that New Zealand has recently feared External link”.

On Sunday, 58.2% of Swiss voters defied their government and backed the “Better Life in Retirement” initiativeexternal link, which will grant an additional 13th pension boost to help retirees struggling to make ends meet in the face of rising costs of living. 74.7% of voters rejected working until the age of 66.

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The British Broadcasting Corporation (BBC) explained on its website, external link, that “voters in Switzerland often take their government’s advice on financial matters: a few years ago they actually refused to take an extra week of vacation annually. This time they said enough is enough, using the power it gives.” They have the system of direct democracy in Switzerland to vote for themselves an additional month's pension every year.

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Now it is the Swiss's turn to “examine the thorny issue of pensions,” wrote Le Figaroexternal link in France, where reforms a year ago led to massive industrial strikes. She added that the particularly high participation rate (more than 58%) was “a sign of the vitality of the discussions.”

“Here, retirees now receive their 13th month’s pay,” is the headline in the popular German newspaper BildExternal link, the top image shows banknotes falling from the sky. Die Welt newspaper, also in Germany, reported “a huge uproar on the left.”

'Existential fears'

The Tages-Anzeiger newspaper in Zurich considered: “It is a historic ruling.” “Never before have Swiss voters accepted an initiative on this topic [pensions]. Never before has the left achieved a majority at the ballot box while expanding the welfare state. Never before has she won such a large number of middle-class voters.

The newspaper saw three reasons for what it described as “the feeling.” First, the problem is real: “Many seniors suffer from existential fears. It is becoming increasingly difficult to pay high rents, health insurance premiums and electricity rates through pensions. And unlike conservative previous generations, baby boomers, who are now retiring in droves.” They confirm their fears with confidence.

This combination explains why the initiative to increase pensions by more than 8% now enjoys majority support, the report said. “Just eight years ago, an almost identical proposal was defeated by a clear margin at the ballot box.”

The Tages-Anzeiger newspaper also noted that the trade unions played their cards well – “mobilizing not only the left-wing sectors of the population, but an entire generation of pensioners” – and their opponents, particularly the right-wing Swiss People's Party. They played their game badly.

'wake-up cry'

The Tribune de Geneve newspaper, external link, said that many retirees can no longer afford a decent living, noting that 75% of voters in Geneva supported this initiative.

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However, he also pointed out errors. “At first there was a lack of a counter-proposal. The initiative would benefit all pensioners, even billionaires, at the expense of working people. Yes, and this is a major flaw. But why did the right not put forward a more targeted and better worded version? Out of arrogance and certainty of victory.” “Decisive mistake.” “.

The newspaper also criticized the poor campaign run by the opposition, directing particular criticism at the five former government ministers External link “having made their fortunes and enjoying comfortable pensions, who came to explain to good people why the thirteenth pension was rejected.” “It would have been better for them to disappear after their service.”

Beyond pensions, the Tribune de Genève concluded that these apparent “blessings” showed the government and parliament the way forward: “They should give priority to the standard of living of the Swiss people, especially the middle class. This wake-up call will not harm them.”

“Only bad alternatives”

“Now we need to talk about the bill,” the sobering newspaper Neue Zürcher Zeitung (NZZ) said. “Anyone who has not lived on the moon in recent months knows that [initiative] It does not create any wealth at all, but rather redistributes it more than was the case before – from young to old and from top to bottom.

According to calculations, the majority of voters will fully benefit from the 8.3% increase in pensions. “But the bill for this will stretch over decades, and will be paid mainly by young people – whether through higher taxes, larger payroll cuts, or raising the retirement age.”

NZZ expressed hope that the issue of pension funding would now be raised very quickly. “Anyone who wants at least a little intergenerational equity will have to recoup some of the costs by increasing the normal retirement age from 65 to 66; this will cover about 40% to 50% of the additional costs. But she acknowledged that the resounding rejection on Sunday to raise the age Retirement casts doubt on this trend.

“Otherwise there are only bad alternatives. If pensioners have to make at least a small contribution to the additional costs, at least part must be financed through VAT. On the other hand, additional salary cuts would be the maximum penalty for young people, but they would be in line.” With the logic of Sunday's referendum, the NZZ noted that a 20-year-old would have to pay higher salary deductions for another 45 years, a 60-year-old for only five years, and pensioners would pay nothing at all. “This looks attractive to most voters “

The national mood has changed

“The importance of this historic vote on Sunday cannot be overstated,” the Tages-Anzeiger newspaper concluded, saying the mood in the country had changed. “It sends a signal to hold other ballots this year.”

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One of the four issues voters will have a say on June 9 is the “10% Initiative” put forward by the left-wing Social Democratic Party, which calls for no policyholder to have to pay more than 10% of their income on health insurance. Insurance premiums. “Its promoters can now have justified hopes,” the Tages-Anzeiger newspaper said.

Here, too, there is no sufficient counterproposal, and this initiative also entails high costs. However, younger workers and families could argue in favor [a yes vote]Saying, “Now it's our turn.”

“In other words, the big debate about redistribution is not over, it is just beginning.”

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Read more: Five key takeaways from Switzerland's pension votes More Where to find the money needed to fund the 13th pension payment?

There are a number of proposals to fund the disbursement of the 13th monthly pension, which were approved in Sunday's vote. what do you think?

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