Banks, police, wages 9 important changes you should know about in August

In August 2024, there will be numerous changes in Switzerland again. blue News shows you the changes and adjustments that are coming.

In August 2024, Switzerland will once again see various changes that could have an impact on your life. Among other things, there will be changes to bank interest rates and apprentices' wages.

blue News has a comprehensive overview of all the changes in August 2024.

From August, anyone who wants to transfer money can do so around the clock and at weekends. And the money will reach the recipient in real time. This is the promise of the new payment system called "SIC5".

The Swiss National Bank (SNB) and the stock exchange operator SIX officially launched the system in mid-January. Now the banks are introducing it step by step.

The core element of "SIC5" is the so-called "Instant Payment Services", or IPS for short. This will enable real-time money transfers within Switzerland - i.e. electronic payments around the clock, seven days a week and in a matter of seconds.

Not all banks are yet on board. According to the "Handelszeitung", only UBS, Raiffeisen, Berner Kantonalbank and Hypothekarbank Lenzburg will be offering the all-round package from August.

The total revision of the legal basis for the baccalaureate comes into force. In Swiss grammar schools, the language of instruction and the subject of mathematics are to be strengthened, economics and law as well as IT are to be offered as additional basic subjects and the choice of core subjects is to be expanded.

A binding minimum number of four school years up to the Matura will also be stipulated by law. The cantons have a maximum of ten years to implement this. This is provided for in the new framework curriculum for baccalaureate schools.

Student exchanges are also to be promoted. From August 1, grammar schools will also have to devote at least three percent of teaching time to interdisciplinary work.

In June, the SNB lowered its key interest rate for the second time this year. Now the banks are following suit in some cases.

Among the major banks, Raiffeisen is the most notable. However, the Raiffeisen Group is only making a recommendation to the individual cooperatives, which are then free to make their own specific decisions.

The Group now only recommends an interest rate of 0.70 percent for member savings accounts, down from 1.10 percent previously. For deposits over CHF 100,000, the interest rate will fall from 0.70 percent to 0.45 percent. The reduction is also up to 0.5 percentage points for other types of savings accounts.

Migros Bank and Hypothekarbank Lenzburg are also lowering interest rates as of August 1, as they write in press releases. The cantonal banks are also making some adjustments to their interest rates.

Good news for employees of the Zurich transport company VBZ: they can continue to listen to music at work. The one-year pilot operation has been a success, according to VBZ. From August 1, music will therefore definitely be permitted in the streetcar or bus driver's cab.

The condition is that the music is only played at a "limited volume". Longer voice contributions such as podcasts or live broadcasts of sporting events are also prohibited, as this would be too distracting for drivers.

Headphones and tapping on a cell phone while driving are also prohibited. The playlist must therefore be selected before the start of the shift.

VBZ hopes to become more attractive as an employer by allowing music. They have been struggling with a shortage of skilled workers for several years, which is why streetcar and bus routes have had to be discontinued at times.

From August 1, companies can now claim short-time working compensation for their employees for a maximum of eighteen months instead of twelve. Due to the sharp rise in energy prices at the beginning of the Russian invasion of Ukraine, energy-intensive industries in particular had to resort to short-time working compensation.

Although energy prices have fallen again in the meantime, the Federal Council announced in mid-June of the current year. However, the economic situation remains difficult in various sectors. The extension of the maximum period of entitlement would give companies that have already reached or will soon reach the regular maximum period of entitlement more time to adapt to the difficult situation.

The companies affected would also have more time to open up new sales markets or launch new products. This would improve their planning security. The corresponding amendment to the Ordinance on Compulsory Unemployment Insurance and Insolvency Compensation is also intended to counteract an increase in unemployment.

The Federal Council's new ordinance on the coordination of traffic in exceptional situations (VKOVA) comes into force on August 1. According to the federal government, the ordinance enables structured crisis management for all areas of transport and therefore the most efficient use of all modes of transport in the event of a crisis.

In addition to public transport, rail freight transport and traffic on the national roads, private road freight transport and air traffic are now also included in crisis preparedness.

Transport plays an important role in managing a crisis situation, the Federal Council announced in mid-June, referring to its experience with the Covid-19 pandemic and preparations for a possible power shortage.

An independent contact point for police officers is being set up as a result of the mismanagement uncovered in the Basel police force.

The external contact point for the areas of bullying, discrimination and sexual harassment will initially take up its duties on a temporary basis from August 1. The mobbing and harassment specialist from Zurich will be commissioned to do this.

From August 2024, wages for apprentices at Coop will increase by CHF 100 each. This means CHF 1,000 in the first year of training, CHF 1,200 in the second, CHF 1,400 in the third and CHF 1,600 in the fourth. The Coop cooperative takes on more than 1000 apprentices every year, according to reports.

Over the past ten years, Coop has increased wages by 9.5 percent, according to the press release. The cooperative also pays two thirds of the pension fund contributions.

Apprentices in the canton of Aargau will receive higher wages from August. The canton wants to become a more attractive employer for the younger generation, the state chancellery announced at the end of June.

The wage rates will be raised and standardized in line with the recommendations of professional associations. The wages for apprenticeships with a Federal Certificate of Competence (EFZ) are now standardized, according to the press release. In the first year of apprenticeship, the wage is CHF 820, in the second CHF 1030, in the third CHF 1500 and in the fourth CHF 1700.

Exceptions are the three-year apprenticeships for farmers and forest wardens, whose wages are slightly higher and start at CHF 1,300 and CHF 900 respectively, as set out in the "Ordinance on Wages for Special Categories of Personnel".

With material from the SDA.