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Massive pensioner wealth gap

Monday, 4 December 2023 15:32

Zug (c) LohriPR

Poverty in old age is a significant problem. But a survey from canton Zug is highlighting a major wealth gap.

Half of pensioners there are millionaires. 

The survey by the association for the elderly, Pro Senectute, shows much of the other half are at risk of poverty – or in poverty, judged by having an income less than CHF 2,300 a month. 

Many are living on only the premier-pillier pension income.

The association says many of those don’t realise they are likely to be entitled to further social payments. 

But more worryingly, the association says many have lost money to internet scams, but are too embarrassed to say so.

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