Switzerland: Revision of the Old-age and Survivors’ Insurance Act as of January 1st, 2024: Raise in the Statutory Retirement Age for Women, Increase in VAT

A reform of the old-age and survivors’ insurance (AHV) has been in force since 1 January 2024. The reform is financed by an increased retirement age for women and by an increase in VAT.

The normal retirement age (newly referred to as the reference age) for women is being raised from 64 to 65 years, aligning it with the retirement age for men. The increase will happen gradually over three months each year. The first increase will be implemented in 2025. As a result, the retirement age for women will be 65 in 2028. As this reform particularly affects women who are now approaching retirement, women born between 1961 and 1969 will receive lifelong pension supplements as a compensation measure.

In addition, the reform also provides for options to make retirement more flexible (both men and women can draw their pension from age 63 at the earliest to age 70 at the latest) and creates incentives for people who wish to work beyond the normal retirement age.

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