7 day swiss trip

Welcome Swati! That looks like a good plan. It will be busy, but doable. The rides up to viewing points such as Pilatus, Titlis and Jungfraujoch can be real fun for kids. If you have time, or if weather is bad, don't forget the Traffic Museum in Lucerne; they'll love it. You've listed quite some highlights, so no, I don't think you're missing out on anything. All I would advise is to make some back-up plans in case weather isn't good enough to spend money on Pilatus, Titlis and Jungfraujoch. Alternatives for the Jungfrau region are the Aare gorge, Trümmelbach falls, Beatus caves, etc. They're described here. From Lucerne, you could also visit the Shoggiland chocolate factory in Flawil: it's a 2 hour train ride. All trips can be planned through the timetable. By the way, I assume you won't actually be traveling from Lucerne to Montreux on day 7, leaving from Interlaken? That would be quite a detour. You can do the first leg of the Golden Pass train on day 4 or 5, using it for your transfer from Lucerne to Interlaken. Just travel via the Brünig Pass and Meiringen.

Yes, most or your journey is covered by an 8 day Swiss Saver Pass. The children will travel along for free on all routes with the free Swiss Family Card. You'll only need additional ticket for mountain routes. Please review details, including a downloadable validity map, at the Swiss Saver Pass page. Urban transportation in Zurich, Lucerne, Interlaken and Geneva (mostly buses, in some case trams) is included too. One last tip: in order to save money you could replace either Pilatus or Titlis by the Rigi, as the entire trip up to Rigi is for free with your Swiss Saver Pass.