In a referendum held on 25 September 2022, Swiss voters approved the OASI 21 reform, resulting in the following changes regarding ordinary retirement age:
The term “reference age” is to be introduced. It replaces the terms “pensionable age” and “retirement age” and applies to both OASI and the pension funds.
From 1 January 2024 onwards, a uniform reference age of 65 will apply to both men and women (previously 65 for men and 64 for women).
As the current retirement age for women is lower, it will be adjusted upward annually in three-month steps till it reaches the new reference age. Women born in 1960 are not affected by the increase. Women born in or after 1964 will reach ordinary retirement age at reference age 65.
That differs from person to person and depends on your needs and plans. When you retire, you no longer have certain expenses, such as meals out while working or the cost of commuting to work. On the other hand, you may want to make use of your new leisure time by travelling more or pursuing a hobby. That can push up your expenses.
If you pay into the OASI scheme without interruption and are also insured with a pension fund via your employer, you can expect to receive pension income equal to about 60% of your final income as an employee. But that figure can be appreciably lower if you earned a high salary, took longer breaks from work or did not pay all your contributions. So, it is worth answering the following questions at an early stage: