DON’T MISS
IamExpat Job BoardIamExpat HousingIamExpat Webinars
Newsletters
EXPAT INFO
CAREER
HOUSING
EDUCATION
LIFESTYLE
EXPAT SERVICES
NEWS & ARTICLES
Home
Expat Info
Swiss news & articles
Pensions to increase in Switzerland from July: What you need to know
Never miss a thing!Sign up for our weekly newsletters with important news stories, expat events and special offers.
Keep me updated with exclusive offers from partner companies
By signing up, you agree that we may process your information in accordance with our privacy policy

Pensions to increase in Switzerland from July: What you need to know

Never miss a thing!Sign up for our weekly newsletters with important news stories, expat events and special offers.
Keep me updated with exclusive offers from partner companies
By signing up, you agree that we may process your information in accordance with our privacy policy
or
follow us for regular updates:



Related Stories

Could tips soon be taxed in Switzerland?Could tips soon be taxed in Switzerland?
The latest reforms to Swiss pensions explainedThe latest reforms to Swiss pensions explained
Expat guide to the Swiss parliament's spring session 2025Expat guide to the Swiss parliament's spring session 2025
Switzerland in 2025: Major changes you need to know aboutSwitzerland in 2025: Major changes you need to know about
What you need to know about the private pension reforms in SwitzerlandWhat you need to know about the private pension reforms in Switzerland
Switzerland moves to scrap lifelong pensions for widowsSwitzerland moves to scrap lifelong pensions for widows
How proposed Swiss tax reforms will affect your pensionHow proposed Swiss tax reforms will affect your pension
How will Switzerland's new austerity cuts impact you?How will Switzerland's new austerity cuts impact you?
For expats of all colours, shapes and sizes

Explore
Expat infoCareerHousingEducationLifestyleExpat servicesNews & articles
About us
IamExpat MediaAdvertisePost a jobContact usSitemap
More IamExpat
IamExpat Job BoardIamExpat HousingWebinarsNewsletters
Privacy
Terms of usePrivacy policyCookiesAvoiding scams

Never miss a thing!Sign up for expat events, news & offers, delivered once a week.
Keep me updated with exclusive offers from partner companies
By signing up, you agree that we may process your information in accordance with our privacy policy


© 2025 IamExpat Media B.V.
© 2025 IamExpat Media B.V.
Updated on Mar 3, 2023
Jan de Boer

Editor at IamExpat Media

Jan studied History at the University of York and Broadcast Journalism at the University of Sheffield. Though born in York, Jan has lived most of his life in Zurich and has worked as a journalist, writer and editor since 2016. While he has plunged head-first back into life in Switzerland since returning to the country in 2020, he still enjoys a taste of home at pub quizzes and karaoke nights.Read more

The Swiss government has confirmed that pensions in Switzerland will rise from July 2023 at the earliest, in response to the higher cost of living. It amounts to the second major adjustment to social security in 2023. Here’s what you need to know.

Update: At a vote on March 2, the Swiss Parliament rejected the plan to raise pensions. A compromise deal is now being discussed.

Initial increase in Swiss pensions not enough says government

In a statement released on February 22, the Federal Council said recent pension rises - first pillar pension payments were increased by 2,5 percent in January 2023 - have not been enough to keep up with inflation, which has reached 2,8 percent this year already. Therefore, the council has drafted a plan that would see pension rates rise again.

Typically, the government only adjusts pensions every two years so that they fall roughly in line with the cost of living and increases in salaries. However, the recent spike in inflation has forced the council to act faster to make sure old-age pensioners are not left out of pocket, especially given that people in Switzerland have suffered the biggest loss in purchasing power since World War Two.

Pensions in Switzerland to be raised from summer 2023

From the summer, the government has decided to increase first (OASI) pillar pension payments by 0,3 percentage points, on top of the 2,5 percent rise already in place since January. In practice, this means that the minimum OASI pension will be raised to 1.232 francs a month, while the maximum will rise to 2.464 Swiss francs a month. According to government figures, the new policy will cost federal and cantonal governments 209 million francs a year.

As the call for higher pensions was originally made by the National Council, the Federal Council said it expected the pension increase to pass parliament with ease. Authorities confirmed that if all goes well, pensioners will see the extra money in their bank accounts from July 1, 2023. For more information, check out the official press release.

Thumb image credit: InnaFelker / Shutterstock.com

By Jan de Boer