In an article published on 3 August, the Neue Zürcher Zeitung looks at the financial situation of retired people and whether they can still afford to live in Switzerland.

Laurent Schlaefli, Chief Executive Officer of the Profond Pension Fund and President of inter-pension, the association of independent collective and communal institutions, sums up the growing concern of citizens: "Many people are faced with the question of whether they should stay in Switzerland after retirement and cut back – or whether they should go abroad or go back to their home country."

Falling conversion rates and pension cuts, which numerous pension funds have made in recent years due to the low-interest phase and demographic developments, are endangering the standard of living to which people are accustomed. Especially for the self-employed without a pension fund, part-time workers, late divorcees, foreigners and late immigrants, retirement could become financially tight. For "normal" Swiss employees who have lived here for decades and paid contributions continuously, however, experts say there is no reason to worry – especially if they are married.

You can read the complete article here.