Cyprus pension reform bill delayed as legal vetting nears completion
The Cyprus government’s pension reform bill is not yet ready to move from the Cabinet to the House, with legal vetting still in its final stages and the timetable slipping again. Labour Minister Marinos Moushouttas confirmed the reform is still planned to be implemented starting January 1, 2027, with pensioners expected to feel the financial effects from February.
The Labour Advisory Board will meet on October 8, where social partners are expected to present proposals. Discussions on the bill and the provident funds under the second pillar will continue simultaneously, a process some involved parties find problematic due to overlapping procedures in the House and with the advisory board.
The government aims to reach a framework agreement with social partners, particularly concerning the second pillar, which covers provident funds. This agreement will then be turned into legislation. Implementation of the second pillar is projected to take three to four years, with ongoing technical committee discussions set to resume in early October.
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