Switzerland

Switzerland (/ˈswɪtsərlənd/), officially the Swiss Confederation (Latin: Confoederatio Helvetica, hence its abbreviation CH), is a country in Europe. While still named the "Swiss Confederation" for historical reasons, modern Switzerland is a federal directorial republic consisting of 26 cantons, with Bern as the seat of the federal authorities, called Bundesstadt ("federal city"). The country is situated in Western and Central Europe, and is bordered by Italy to the south, France to the west, Germany to the north, and Austria and Liechtenstein to the east. Switzerland is a landlocked country geographically divided between the Alps, the Swiss Plateau and the Jura, spanning an area of 41,285 km² (15,940 sq mi). While the Alps occupy the greater part of the territory, the Swiss population of approximately 8 million people is concentrated mostly on the Plateau, where the largest cities are to be found: among them are the two global and economic centres, Zürich and Geneva.

The establishment of the Swiss Confederation is traditionally dated to 1 August 1291, which is celebrated annually as the Swiss National Day. The country has a long history of armed neutrality—it has not been in a state of war internationally since 1815—and did not join the United Nations until 2002. Nevertheless, it pursues an active foreign policy and is frequently involved in peace-building processes around the world. In addition to being the birthplace of the Red Cross, Switzerland is home to numerous international organizations, including the second largest UN office. On the European level, it is a founding member of the European Free Trade Association, but notably it is not part of the European Union, nor the European Economic Area. However the country does participate in the Schengen Area and the EU's single market through a number of bilateral treaties.

Lausanne

Lausanne (/loʊˈzæn/, French: [lozan], Italian: Losanna, Romansh: Losanna) is a city in the French-speaking part of Switzerland, and the capital and biggest city of the canton of Vaud. The city is situated on the shores of Lake Geneva (French: Lac Léman, or simply Le Léman). It faces the French town of Évian-les-Bains, with the Jura mountains to its north-west. Lausanne is located 62 kilometres (38.5 miles) northeast of Geneva.

Lausanne has a population (as of November 2015) of 146,372. Making it the fourth largest city in Switzerland, with the entire agglomeration area having 420,000 inhabitants (as of March 2015). The metropolitan area of Lausanne-Geneva (including Vevey-Montreux, Yverdon-les-Bains, and foreign parts) was over 1.2 million inhabitants in 2000.

Lausanne is a focus of international sport, hosting the International Olympic Committee (which recognizes the city as the "Olympic Capital" since 1994), the Court of Arbitration for Sport and some 55 international sport associations. It lies in a noted wine-growing region. The city has a 28-station metro system, making it the smallest city in the world to have a rapid transit system.

Lake Geneva

Lake Geneva (French: lac Léman, le Léman[lemɑ̃], sometimes lac de Genève [lak d(ə) ʒ(ə)nɛːv], German: Genfersee [ˈɡɛnfərˌzeː]) is a lake on the north side of the Alps, shared between Switzerland and France. It is one of the largest lakes in Western Europe and the largest on the course of the Rhône. 59.53% (345.31 km² [133.32 sq mi]) of it comes under the jurisdiction of Switzerland (cantons of Vaud, Geneva, and Valais), and 40.47% (234.71 km² [90.62 sq mi]) under France (department of Haute-Savoie).

Lake Geneva has been explored by four submarines: the Auguste Piccard and the F.-A. Forel, both built by Jacques Piccard, and the two Mir submersibles.

Name

The first recorded name of the lake is Lacus Lemannus, dated from Roman times; Lemannus comes from Ancient greek Limanos, Limènos Limne Λιμένος Λίμνη meaning port's lake; it became Lacus Lausonius, although this name was also used for a town or district on the lake, Lacus Losanetes and then the Lac de Lausanne in the Middle Ages. Following the rise of Geneva it became Lac de Genève (translated into English as Lake Geneva). In the 18th century, Lac Léman was revived in French and is the customary name in that language. In contemporary English, the name Lake Geneva is predominant. A note on pronunciation:

Pension tax simplification

Pension tax simplification, often simply referred to as "pension simplification" and taking effect from A-day on 6 April 2006 was a policy announced in 2004 by the Labour government to rationalise the British tax system as applied to pension schemes. The aim was to reduce the complicated patchwork of legislation built-up by successive administrations which were seen as acting as a barrier to the public when considering retirement planning. The government wanted to encourage retirement provision by simplifying the previous eight tax regimes into one single regime for all individual and occupational pensions.

Main changes

Broadly the new regime allows considerable freedom in the tax relievable contributions that may be made to pension schemes, and the assets in which they may be invested. It also however caps the size of tax favoured pension fund that may be accumulated by an individual. This 'lifetime allowance' was set at £1.6M for 2007–08. Funds accumulated in excess of the lifetime allowance are subject to a tax charge of 55%. Transitional protection provisions were made for individuals who had already accumulated pension funds in excess of this amount.