Cyprus prioritizes pension system reform for 2026

Cypriot Minister of Labour Marinos Mousiouttas identified the reform of the national pension system as the government's primary social priority for 2026. During a meeting of the Workers' Group of the European Economic and Social Committee held on Tuesday at the SEK building, the minister emphasized the necessity of ensuring long-term sustainability for the Social Insurance Fund. He acknowledged the demographic challenge of an aging population and increasing life expectancy. The government aims to balance long-term financial viability with the provision of adequate and dignified pension levels. The first phase of this reform specifically targets the Social Insurance Fund, with a focus on increasing minimum pensions to ensure they meet basic living standards. Additionally, the plan includes the modernization of the fund's investment policy. The minister stated that maintaining social adequacy is a non-negotiable principle for the administration.