Pensioners outside the Opera House in central Zurich. Photographer: Pascal Mora/ Bloomberg
ZURICH: Swiss voters rebuffed a government plan to reform company pension funds, marking the second time this year that a proposal to adapt the country’s retirement system to changed demographics was rejected in a plebiscite.
The bill to increase wage deductions and reduce retirement payouts – in order to cope with higher life expectancy – was supported by just 32.9% of the electorate, according to final government results published last Sunday.
