Voters in Switzerland have approved an increase in the retirement age for women from 64 to 65 by an extremely narrow margin.
In a referendum on Sunday, 51% of voters were in favour of the initiative, aimed at stabilizing the pension fund, according to preliminary official results.
An increase in value-added tax from 7.7% to 8.1% is meanwhile set to ensure there are sufficient funds for pensions, after 56% of voters approved this measure.
The increase in the retirement age is intended to stabilise the pension fund for at least the next 10 years. According to the government, the step is necessary due to the numbers of baby boomers reaching retirement age and increasing life expectancy.
Both left wing parties and trade unions had campaigned against the increase, however, arguing that Switzerland first needed to ensure that women earn as much as men.
"This is not a good day for women," one opponent of the initiative said on Swiss television.
The move is to be cushioned with compensatory measures: If the reform comes into force as planned in 2024, women born between 1961 and 1969 will be able to retire early under better conditions or receive a supplement if they work until 65.
