In an interview with the Tribune de Genève, the Swiss president, Karin Keller Suter, says she gives the state of the federal finances a score of 5 out of 10 – and acknowledges Geneva will be contributing significantly for the next few years.
She says the state will be running a deficit if CHF 3bn .
But Geneva, thanks the commodity trading sector, will be contributing several hundred million a year.
But she says the government is looking to increase tax on 2nd and 3rd pillar pension contributions for those who wish to take a lump sum – commonly done by expats.
She says it’s preferable if people take an annuity.
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