Almost half of Swiss workers choose early retirement
On Tuesday, the Federal Statistical Office (FSO) reported External linkthat in 2019 between 40-50% of people started receiving their pension from their so-called second pillar before the legal retirement age – 65 for men and 64 for women.
Men tend to make this choice more than women – 46% compared to 40%, respectively.
The Swiss pension system is complex, and is based on three so-called pillars: old-age and survivors’ insurance (known as the AVS), occupational pension planning (often referred to as LPP) and private saving for old age encouraged through tax breaks.
The FSO statistics confirm what has been observed on the Swiss labour market. Men can often afford to retire earlier. Fewer men work part time and thus generally have higher salaries than women so are able to contribute more into pension schemes. Men receive CHF2,144 per month from their second pillar (employer) pension compared with CHF1,160 for women.
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