Demographic slowdown in 2025: +0.8%

Context

In a nutshell

• Population 9,127 million at 31/12/2025: growth +0.8% (slowdown vs 1.0% 2024)
• Elderly (65+) outnumber young people (<20) for the first time: 1,810,600 vs 1,804,500
• Migration balance falls by 14.9%; internal mobility falls (56 vs 61 displacements per 1,000 inhabitants)
• Migration down 3.9%, emigration up 3.1% compared to 2024

Key facts

• What: Definitive demographic data 2025 from the Federal Statistical Office
• When: 31 December 2025 (press release 20 August 2026)
• Where: Switzerland, all 26 cantons
• Who: UST (Federal Statistical Office)
• Inhabitants: 9,127,100 (+0.8% per year)
• Elderly (65+): 1,810,600 (outnumber young people <20 for the first time)
• Migration balance: 70,400 (-14.9% compared to 2024)

Switzerland closes 2025 with 9,127,100 permanent residents. According to the final data of the Federal Statistical Office (FSO), population growth continues but at a significantly slower pace: +0.8% compared to 2024 (+1.0%) and 2023 (+1.7%). This slowdown reflects a year characterized by less immigration and more emigration, confirming the trends observed in the provisional data released in April 2026.

The profile of the population is transformed. Among the 9,127 million inhabitants, 6,599,000 have Swiss nationality (72%), while 2,528,100 are foreigners (28%). In 2025, the Swiss population grew by 27,900 people (+0.4%), while the foreign population increased by 48,200 people (+1.9%).

Operational details

Internal mobility on the decline

Alongside comprehensive demographic data, the UST has provided information on population mobility within the Swiss territory. In 2025, 511,200 internal migrations were recorded: 358,000 intracantonal (within the same canton) and 153,200 intercantonal (between different cantons). When related to the number of inhabitants, these numbers highlight a trend of slowdown: only 56 movements per 1,000 inhabitants in 2025, compared to 61 per 1,000 inhabitants ten years earlier. This decline in internal mobility affects both nationality groups, albeit in different ways. In 2025, foreign people maintain a higher mobility compared to Swiss citizens (80 movements per 1,000 foreigners, against 47 per 1,000 Swiss citizens). However, it is precisely among Swiss citizens that the decline in mobility is more marked from 2021 onwards, suggesting growing residential stability or possible economic constraints related to housing costs.

Pension system under pressure

The UST's demographic data has direct repercussions on the sustainability of the Swiss pension system. When the elderly surpass the young, the ratio between active contributors and pensioners narrows, exerting financial pressure on AVS (Old Age Insurance) and LPP (Professional Pension). The natural population growth (only 8% of total growth in 2025) suggests that Switzerland will still rely on migratory balance for many years to maintain an adequate number of active workers. However, the decline in migratory balance in 2025 (-14.9%) indicates that this source of supply is weakening. At the territorial level, the 17 cantons with an older population will face more consistent welfare, health, and long-term care needs, while the nine cantons with younger demographic profiles can count on a broader contributory base. Consult our tools to verify your pension position. The variability between cantons suggests that demographic pressures are not uniform: Vaud, Geneva, Fribourg, and Zurich still maintain younger profiles, while other regions will face more acute sustainability challenges.

Nationality and labor market dynamics

The decline in immigration (-3.9% compared to 2024) and the increase in emigration (+3.1%) indicate changes in the attractive forces of the Swiss labor market. Among new immigrants, Germans remain the largest group (12.9% of flows), followed by Swiss returnees (11.3%), French (10.1%), and Italians (9.1%). On the other hand, Swiss emigration (22% of those leaving the country) suggests a search for opportunities abroad, while that of Portuguese, Italians, and French may reflect economic changes in their countries of origin. These migratory flows have direct effects on the Swiss labor market: fewer immigrants mean less labor supply for certain sectors (construction, hospitality, healthcare), but also less pressure on Swiss citizens' salaries, at least in the short term. Check the cost of living and job opportunities in your region to evaluate your position.

Useful planning tools

To estimate your pension strategy, use the pension planner and the pillar 3 simulator.

Key points

Planning for retirement in a context of aging

The demographic implications presented by the UST data have a direct relevance for those planning their own retirement. With a growing life expectancy and an increasingly unfavorable ratio between active and pensioners, it is essential not to rely solely on the AVS guarantee. The contribution rates for the second pillar (LPP) vary by age group: from 7% between 25 and 34 years, to 10% between 35 and 44 years, to 15% between 45 and 54 years, up to 18% after 55 years up to the reference age. This means that the last years of career require a significantly higher contribution effort.

Anyone in one of the higher age groups should check if their LPP rate is correct and if the accumulated capital is sufficient. It is equally important to evaluate the opening of a third pillar account (3a) to integrate the obligatory pension. These tools allow for federal and cantonal tax deductions, reducing the tax burden while accumulating additional capital for retirement.

Cost of living and housing dynamics

The slowdown in demographic growth does not necessarily mean a decline in the cost of living in Switzerland. Rather, aging of the population implies a reconfiguration of housing demand: fewer expanding family units, more pensioners seeking housing solutions tailored to their needs. This phenomenon is reflected in property prices and rents at the local level, with marked variations between cantons. The cantons with the youngest population (Vaud, Geneva, Fribourg, Zurich) are likely to continue exerting pressure on prices, while those with more elderly populations may see emerging housing opportunities at a lower price.

For those living and working in Switzerland, monitoring local cost of living, LAMal premiums (obligatory health insurance), and cantonal taxes remains essential. The older cantons may be pushed to increase taxes to finance welfare, while the younger ones may be able to maintain a more competitive tax system.

Labor mobility and contractual opportunities

The observed decline in internal mobility (56 moves per 1,000 inhabitants in 2025, compared to 61 ten years ago) suggests that workers remain more stable in their places of residence. This trend may reflect a greater difficulty in finding accessible housing in other regions, or a greater preference for telework and flexibility. For employers, it means that the local pool of competitive talent is reduced, prompting them to invest more in internal training and job attractiveness.

Those looking for work in Switzerland should take advantage of this trend: the relative scarcity of mobile candidates amplifies personal bargaining power. It is advisable to negotiate flexibility in working hours, telework, performance bonuses, and salary supplements. Similarly, those already employed may find more favorable conditions in a job change, thanks to the sustained demand for talent in a context of general reduced mobility.

Checklist: what to do now

1. Check your AVS/LPP position: Check the contributions paid and the accumulated capital using the pension calculator 2. Evaluate the third pillar (3a): Open an account if you haven't already done so for additional tax deductions 3. Monitor local cost of living: Use cantonal data to assess your purchasing power and opportunities 4. Negotiate working conditions: In a market with reduced mobility, employees have more leverage in negotiations

Understanding the demographic context is the first step to making informed decisions on career, personal finances, and retirement. Use the pension calculator to check if your AVS/LPP contributions are adequate for your age group and income, and discover the options of the third pillar 3a to optimize your tax planning.

Source: admin.ch