Higher Interest Rates on Retirement Assets & Job Cuts
Today's summary deals with rising interest rates on pension fund assets despite a tense situation on the labor market. In addition, the summer heat is returning, which is exacerbating the drought and the risk of forest fires in many regions.
Working professionals in Switzerland are benefiting from record interest rates on their retirement assets in pension funds. A current industry report attributes this to successful investment strategies by the second-pillar pension institutions. As a result, the capital saved for retirement is growing more strongly than in previous years.
At the same time, however, job insecurity is increasing. Job cuts are currently occurring in almost all sectors; the number of unemployed people in Switzerland has risen to 140,000. Experts and those affected report a noticeable sense of uncertainty caused by the current wave of layoffs, which is affecting the entire economy.
In addition to the economic situation, the return of summer heat is affecting everyday life. Over the weekend, temperatures will rise again to midsummer levels, further exacerbating the existing drought. In affected areas, making fires outdoors is strictly prohibited due to the high risk of forest fires. Meteorologists warn that even isolated thunderstorms will not provide lasting relief for the time being.
In the app, you will find further information on the Swiss national ice hockey team's group victory against Finland as well as the Ironman in Thun.