Only partly right. The Swiss pension system is based on 3 pillars, and you described only the first one, namely the solidarity pillar. The second one is the mandatory saving which accumulates only for you, and there's a third one, optional savings - also tax exempt (up to some extent). So while yes the usually older politicians are looking at their own retirement horizon, there's wiggle room from the other two pillars. And adaptations of all three happen almost every second year with the goal to at least push further away the breaking point.
Yeah the description above is very outdated, currently the main focus is on everyone's own savings (2nd and 3rd pillar), its foolish to rely on the common 1st one for anything.
Switzerland has a bit unique position within Europe by having the highest salaries, so plenty of folks retire to places like Spain or Italy (or Bali) where your Swiss pension can give you relative luxury lifestyle compared to not so great lifestyle back en Suisse.
Generally everybody in Europe wants to have Swiss pensions, not only for the amount but also for the 3-pillar systems where you actually save decent amount for yourself to live comfortably and/or retire early. Not the case in most european countries AFAIK.
Germany, France or Romania have similar 3 pillars, so I'd say the system is far from being a Swiss particularity.
Edit: the Swiss pension is so high because the contributions are also that high. Nobody stops an Italian to contribute four times as much, in order to receive four times as much pension. But the difference as you say comes from the salary level - although the expenses are just as high, so if you spend your retirement in Switzerland you will feel just as rich as a German in Germany. Only the Swiss retired (and healthy) going abroad get to feel that advantage.
