The title is misleading. Switzerland pension system is complex and divided by redistribution and capitalization.

The vote of today concerns the pension by redistribution – the first pillar. Employers and employees are contributing for this part of the system as a percentage of the salary. The maximal pension is 2500 Swiss francs (2’829 USD). People will receive a rise equivalent to 1/12 of the yearly pension.

The pension by capitalization – second pillar – follow the same system, with employers and employees contributing for it. But, it is not concern by the vote.

First and second pillar are mandatory by law. In Switzerland, you have a third pillar, which isn't mandatory. It's mostly investment, like life insurance.

The title and the image make me feel like aging population voted so younger people pay more for the pensions.

This is the best summary I could come up with:

Swiss voters have given themselves an extra month's pension each year - in a nationwide referendum focusing on living standards for the elderly.

The proposal to increase pensions came from the trades unions - but was opposed by the Swiss government, parliament, and business leaders, who argued it was unaffordable.

This time they said enough was enough, using the power that Switzerland's system of direct democracy gives them to vote themselves an extra month's pension each year.

The result was described as a "historic victory for retirees" by Avivo, a Swiss association that defends the rights of current and future pensioners.

The move brings the state pension into line with Switzerland's salary system, which is also paid in 13 instalments, meaning workers get a double payment in November.

Voters, though, looking at Switzerland booming economy, whose success is in large part thanks to their hard work, clearly believe their country can afford it.

The original article contains 426 words, the summary contains 153 words. Saved 64%. I'm a bot and I'm open source!

As someone from the USA, I am curious how would this work? The bill mandates that payments go out, but if it is not tied to a specific source of income to compensate, and some hard year happens (maybe this upcoming one) and there are insufficient funds, what happens then?

🤣 Good luck paying for it.

Let's #wetoo !!!!