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Debacle for the LPP reform: 67% no

The slap is widespread throughout Switzerland. No canton has accepted the text. Only a handful of municipalities, including four in French-speaking Switzerland and half of the municipalities in Zurich’s upscale Goldküste, have supported the reform.

The Jura swept the text aside with 77.1% of the votes. Neuchâtel buried it with 76.9% of no votes. The reform was rejected by 73.6% of Fribourg residents, 73% of Geneva residents and 72.6% of Vaud residents. The no vote also won in Valais with 71.1%.

Across the Sarine, the results are just as clear. The no vote triumphs by more than 60% in all cantons. Only Zug is slightly lower. And Solothurn is at the top of the German-speaking ranking with 71.9%, followed by Basel-Landschaft. Bern rejected the text by 69.2% and Zurich by 64.1%. No canton accepted the text.

The “no” camp received 1,655,276 votes, compared to 810,817 for the “yes” camp.

Double challenge

Occupational pension provision faces a dual demographic and financial challenge. To ensure the financing of pensions in the long term, a revision is necessary, according to Parliament.

The main measure of the revision was a reduction of the minimum conversion rate in the compulsory occupational pension scheme from 6.8% to 6%. Compensation measures were planned. The entry threshold would have been lowered. Low wages and part-time workers would have been better covered, the proponents of the revision had argued.

For the Swiss Trade Union Federation (USS) and the left, this reform was a scam. It would not have benefited workers. They campaigned under the slogan: “Pay more for less pension.”

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