Reforming the Swiss pension system : understanding public opinion to enable targeted communication efforts

While generally well-run, the Swiss pension system is in need of reforms to be effective in the longer term. The first pillar, like that of many other countries, is facing demographic challenges undermining its effectiveness and support across generations, while the second pillar is plagued by structural inefficiencies and low returns on investment. Given the direct-democracy approach in Switzerland reforms need to be supported in detail by the broader population and not just by technocrats; this has made reforms slow. Understanding the profile of citizens not supporting reforms and focusing communication is therefore critical to accelerating the pace of technically necessary reforms. This research uses the data from an Raiffeisen Pension Barometer survey to identify such profiles. We find that the profiles are different among the three pillars, and that only a few factors play a significant role. High income and high-skill employment are the most significant indicators of a lower perceived need for reform, as is residency in Western Switzerland. While impacting confidence in the system, age at the granularity in the survey does not generally impact the perceived need for reform.