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Political outcry over OASI miscalculation

The federal government admitted in August that it had miscalculated its financial projections for Switzerland’s old-age and survivors’ (OASI) state pension scheme, saying that an incorrect calculation formula at the Federal Social Insurance Office had caused it to get its sums wrong by 14 billion francs. It turns out that OASI is in better financial health than previously thought. The erroneous forecast also has political ramifications, especially because it was a key argument in the popular vote of 25 September 2022 on raising the retirement age for women. These overly pessimistic figures were even included in the material sent to voters ahead of the plebiscite, which eventually saw a narrow majority of 50.5 per cent approving an increase in the retirement age. The Swiss Green Party, in particular, is now calling for a rerun of the vote. Its president Lisa Mazzone has already said it will take the matter to Switzerland’s highest court, the Federal Supreme Court. The Swiss Social Democratic Party, meanwhile, immediately demanded that the voter-endorsed 13th OASI pension payment now be introduced ahead of schedule, from 2025 onwards, arguing that there is indeed money in reserve. Centre-right and right-wing politicians have also reacted strongly, their main message being that the botched calculations have eroded public confidence – precisely at a time when the federal government is actively warning of drastic cost-cutting measures ahead. (MUL)