Cyprus Labour Minister outlines key goals of pension reform focusing on low-income retirees and farmers
Cyprus Minister of Labour and Social Insurance, Marinos Mousiouttas, announced the main objectives of the upcoming pension reform on Friday evening. The reform aims to increase pensions, especially benefiting low-income retirees, which includes many in the agricultural sector. It introduces pension credits for parents, persons with disabilities, and informal caregivers to create a more adequate, fair, and sustainable system.
Speaking at the Xylofagou International Potato Festival, Mousiouttas emphasized the importance of improving pension adequacy, ensuring fairness in burden and benefit distribution, and maintaining sustainability for future generations. The pension reform bill for the Social Insurance Fund is scheduled to be submitted to the House of Representatives in September. The minister also stressed the need to make farming attractive for younger generations through social insurance support and skills development.
Highlighting the significance of the Cypriot potato, a key agricultural export, Mousiouttas mentioned the Protected Geographical Indication status of the "Cypriot red potato," aiding producers in product protection and promotion. The community leader of Xylofagou, Giorgos Ioulianos, underscored the challenges facing farmers and requested governmental action to boost competitiveness, increase farm incomes, and support potato cultivation, vital for local and national economies.
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