Campaign to use SNB profits to pay AVS shortfall

Monday, 20 December 2021 06:30

An initiative has been launched by the Swiss Trades Union, an umbrella organisation for unions across the country, to use the profits of the Swiss National Bank to replenish pension funds.

The Confederation admits there’ll be an AVS shortfall of CHF 25bn by 2032.

The contentious issue of pension reform is stuck in parliament. A new package of higher contributions and a higher retirement age can’t be agreed.

The Union says it’s only fair as the current negative interest rate policy means money owned by the pension funds on deposit is being paid to the bank.

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