Government plans phased pension increase with 60% implemented in first two years
Labour Minister Marinos Mousiouttas announced that 60% of the planned pension increases under the government’s reform could be implemented within the first two years. The most ambitious scenario would see a 30% rise in the first year, followed by another 30% the next, with smaller increments continuing until full implementation in the fifth year.
The gradual increase aims to protect the sustainability of the social insurance fund and mitigate impact on economic indicators. The “small cheque” benefit for low-income pensioners, however, would be paid immediately to eligible recipients. Discussions on the relevant bill are ongoing, with hopes of reaching an agreement by mid-October.
The reforms are set to primarily benefit low-income pensioners, with around 50,000 pensioners expected to receive increases over €100 monthly. Additional beneficiaries include up to 8,000 low-income pensioners who could see increases above €200. Changes will also affect the housewife’s pension and other benefits, while steps are being taken to strengthen the fund for long-term sustainability and encourage extended workforce participation.
No news yet
CYPRadar is a state-of-the-art, AI-powered Cyprus news aggregator that automatically crawls, filters, and translates local updates in real time. By continuously scanning a wide range of trusted Cypriot media outlets, blogs, and official RSS feeds, the platform identifies original stories and uses advanced language models to filter out duplicate coverage. The service then generates concise, objective summaries, ensuring that readers get a quick and clear understanding of every significant event without information overload.
The primary mission of CYPRadar is to provide comprehensive, multi-language coverage of Cyprus news to keep both residents and international visitors well-informed. The platform covers key events across all major cities and districts, including Nicosia, Limassol, Larnaca, Paphos, and Famagusta. By offering all updates simultaneously in five languages — English, Russian, Greek, Ukrainian, and Turkish — CYPRadar bridges communication gaps and ensures that everyone has equal access to critical local information, from policy changes to community events.
Monitor economic trends, financial regulations, and business news in Cyprus. Follow corporate developments, banking sector updates, inflation reports, tax changes, investment growth, and real estate market performance.