Diko party proposes linking national energy wealth to pension system

On Thursday, the Democratic Party (DIKO) in Cyprus submitted two legislative proposals aimed at using the country's energy wealth to support the pension system. According to party leader Nicolas Papadopoulos, the initiative seeks to ensure the long-term sustainability of the social security system. The proposals involve amendments to the Law on Fiscal Responsibility and the Fiscal Framework, as well as the Law on the National Investment Fund and the Cyprus Investment Management Organization. These two bills are designed to function complementarily, allowing the state to allocate resources from the National Investment Fund specifically toward pension benefits for Social Insurance Fund recipients. Papadopoulos stated that this measure fulfills a core pre-election pledge of the party. He called upon other political factions to support the initiative, emphasizing that the proposal provides a responsible and institutionalized mechanism to return natural resource revenues to the public. No specific fiscal amounts were disclosed during the announcement.