26th September 2017
Erika Mesmer, Client Relationship Manager
The old age pension reform 2020 was rejected yesterday by the Swiss people. This project, with reforms for the first and second pillar, had many positive and necessary points. However it also offered many angles of attack, as well for the right as the left parties. For some the expansion of benefits (AHV, AVS) had to be prevented, for the other the reduction of the conversion rate in the second pillar was simply not conceivable.
When looking at the results of the cantons, it surprises to see Geneva, with a proportion of 42.6% of yes votes, coming in between Obwalden (42.6%) and Appenzell Ausser Rhoden (42.2%). It is rare to see such consensus between these cantons of Switzerland, although the reasons for rejecting the project were certainly diametrically opposed. So maybe the reform was not so bad?!
After the no it is now time to go to work and prepare a new reform. The challenges are known and the question is only if the political parties will be able to set aside particular interests in order to find a down-to-earth solution acceptable for the people. For the future of us all, this would be desirable.