Minister of Labor announces timeline for pension reform bill

On Monday, Minister of Labor and Social Insurance Marinos Moutsiouttas announced that a pension reform bill is scheduled to be submitted to the House of Representatives by mid-July. The announcement followed a meeting of the Labor Advisory Board in Nicosia. During the session, an actuary presented proposed reforms concerning widowhood pensions, disability pensions, and orphan allowances, aiming to establish more favorable conditions for workers. The Ministry is also addressing queries regarding the 12% actuarial reduction and other primary pension pillar issues. Minister Moutsiouttas noted that discussions with social partners are ongoing to reach a consensual solution. He cautioned against speculation and the circulation of unofficial figures, emphasizing that comprehensive data is still being processed. The Minister called for patience while the Ministry works to finalize the legislative text within the established timeframe.