Poverty in Switzerland rising, official figures show Published on Share
The proportion of people living below the Swiss poverty line in 2019 grew to 8.7% of the population, the highest rate seen since 2014, according to a report published on Thursday.
The Federal Statistical Office, which released the figures, said poverty affected 735,000 people in the year before the Covid-19 pandemic hit the country of 8.5 million. Among those in this category, 155,000 were in gainful employment, a statistic that the workers’ umbrella organisation Travail Suisse called “shocking”. The poverty rate among the working population was 4.2%.
The report also revealed that one in eight people (12%) said they had trouble making ends meet. One in five (nearly 21%) would not be able to manage an unexpected expense of CHF2,500 ($2,786) within the month.
Poverty in Switzerland rising, official figures show
Around 12% of people in Switzerland said they had trouble making ends meet. Christof Schuerpf
The proportion of people living below the Swiss poverty line in 2019 grew to 8.7% of the population, the highest rate seen since 2014, according to a report published on Thursday.
This content was published on February 18, 2021 - 14:22
February 18, 2021 - 14:22
Keystone-SDA/gw
The Federal Statistical Office, which released the figures, said poverty affected 735,000 people in the year before the Covid-19 pandemic hit the country of 8.5 million. Among those in this category, 155,000 were in gainful employment, a statistic that the workers’ umbrella organisation Travail Suisse called “shocking”. The poverty rate among the working population was 4.2%.
By Luigi Serenelli2021-02-02T15:03:00+00:00
The Swiss pension fund association ASIP has tabled a new proposal for the reform of the second pillar pension system as an alternative to the social partners’ model backed by the government.
The core element of the proposal refers to financing the measures to compensate for the reduction of the conversion rate to calculate pension pay-outs (Umwandlungsumsatz).
The conversion rate cut from 6.8% to 6.0%, which is part of the government-backed reform, would lead to a 12% drop in pension benefits, according to consultancy C-alm numbers presented by ASIP in a webinar.
The association proposes to compensate for the cuts with an increase to occupational pension savings over a transition period of 10 years financed with Pensionskassen reserves.
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