Published on December 3, 2024 at 3:34 p.m. / Modified on December 3, 2024 at 9:57 p.m.
2 mins. reading
The financial challenges of the first pillar increased further with the acceptance last March of the initiative on the 13th AVS pension. From 2026, this will lead to additional annual expenses numbering in the billions. According to UBS projections, all pension promises exceed future revenues from the first pillar by 177% of gross domestic product (GDP), or 1,315 billion francs. “A structural reform that benefits from broad support, is effective in the long term and is based on several components is essential,” underlines the study carried out jointly with the Research Center on Generation Contracts at the University of Fribourg. -Brisgau.
To finance the 13th pension, the Federal Council initially opted for increases in employee contributions and VAT. Finally, he submitted a proposal to parliament that only includes an increase in VAT. All the proposals submitted so far by the government would certainly cover the additional expenses in the medium term, but in the long term, notes UBS, the AVS financing gap will worsen.
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