Higher Pension Interest Rates & Tax Rebates in Zug
Swiss pension funds are recording high profits, leading to better interest rates on retirement savings. While the Canton of Zug becomes the first canton to introduce automatic tax rebates, the extreme heatwave is forcing Geneva to halt outdoor work. Additionally, authorities are warning of an increasing risk of forest fires and unusual weather phenomena such as waterspouts.
Insured persons in Switzerland can expect an increase in their retirement savings, as pension funds (occupational pension institutions) have achieved an average return of 6.1 percent. This success on the financial markets enables record-high interest rates on the capital saved for later retirement.
There is additional financial relief in the Canton of Zug: the electorate has become the first in Switzerland to approve an automatic tax rebate. In the future, this will be granted whenever the canton's financial situation is particularly good and surpluses are achieved.
In Western Switzerland, the current weather situation is leading to direct restrictions on daily work life. Due to the new June heat record, the Canton of Geneva has ordered a work stoppage for Friday starting at 12:00 PM to protect the health of employees. The measure primarily affects professions carried out outdoors.
Nationwide, high temperatures are exacerbating drought conditions, massively increasing the risk of forest fires. In affected regions, making fires outdoors is already prohibited. Meteorologists are also warning of waterspouts—tornadoes that form over warm water—and further hot days over the weekend, which will only be briefly interrupted by thunderstorms.
Further information on the Ironman in Thun, the Swiss national football team's next opponent, and the performance of Sunrise shares can be found in the news section of the app.