Swiss voters reject biodiversity and pension reforms in national referendum

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Swiss voters have rejected two significant measures in a national referendum held on Sunday, according to initial official results. The two issues at stake were a proposal aimed at enhancing biodiversity preservation and a government-backed reform of pension financing.

The "biodiversity initiative," which sought to increase conservation efforts by setting aside more land beyond currently protected areas, was already dismissed by both the government and parliament prior to the vote. Projections indicate that over 60% of voters opposed the initiative. The Swiss Green Party expressed disappointment, stating that the need for environmental protection remains urgent, highlighting that a third of all species and half of all habitats in Switzerland are under threat.

In addition, voters turned down a proposed reform aimed at addressing financial challenges in the Swiss pension system. The Swiss pension framework consists of three pillars: a basic state pension, a compulsory pension fund, and voluntary private contributions. The government cited low financial market returns and increasing life expectancy as reasons for a financing gap in the second pillar, necessitating increased contributions from employers and employees. Unions opposed the reform, arguing that it would lead to higher costs without corresponding benefits in pension payouts.