CYPRadar 🇨🇾💰 Cyprus government delays pension reform bill to extend consultations and build consensus
The Cyprus government has postponed the presentation of its pension reform bill to allow more time for consultations with trade unions and employers, Labour Minister Marinos Mousiouttas confirmed. Originally planned for cabinet submission this week, the delay aims to facilitate broader consensus and minimize disagreements on the significant overhaul of the pension system.
Mousiouttas assured the postponement would be brief and emphasized the government’s commitment to advancing the reform as soon as possible. Discussions will continue on key aspects including support for low-income pensioners, social insurance fund management, and adjustments to early retirement penalties. The timing for cabinet submission will depend on progress in consultations.
The reform package seeks to balance pension improvements with fiscal sustainability and rejects proposals to drastically raise minimum pensions or cut pensions for higher earners. Trade unions have welcomed ongoing dialogue but stress the importance of prioritizing reform content over deadlines to ensure pensions remain above the poverty threshold. The government aims for legislation to be approved in time for implementation by January next year.
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