Swiss interior minister orders probe after pension miscalculation

Old-age and survivors’ (known as the AHV/AVS) pension expenditure in 2033 is likely to be around CHF4 billion ($4.7 billion), or approximately 6% lower than previously calculated. The Federal Social Insurance Office (FSIO) adjusted the AHV financial outlook accordingly on Tuesday. +Get the most important news from Switzerland in your inbox The FSIO informed the media in Bern that checks had revealed implausibly high AHV expenditure projections for the long term. This discrepancy was due to two incorrect formulas in the calculation programme. The contribution deficit is now expected to rise to around CHF 4 billion by 2033, compared to the previous assumption of over CHF7 billion. +Suspense surrounding the 13th pension payment initiative To address this issue, the FSIO created two alternative models for the calculations and commissioned two research institutes to develop independent models by the end of August. These models will be used to validate the newly calculated financial ...