DISY initiates discussions on pension reform with unions and business stakeholders

The Democratic Rally (DISY), led by party president and Speaker of the House Annita Demetriou, has launched a series of consultations with social partners regarding the upcoming pension system reform in Cyprus. Meetings held between August 31 and September 1, 2026, involved representatives from the SEK trade union and the Cyprus Chamber of Commerce and Industry (CCCI). DISY advocates for a reform that ensures the long-term viability of the Social Insurance Fund without increasing contribution rates or extending the retirement age beyond 65 years.

During discussions, SEK Secretary General Andreas Matsas highlighted critical risks associated with the draft reform, specifically concerning potential benefit reductions following a 2032 actuarial review, increased contribution requirements, and a possible extension of the retirement age. Meanwhile, the CCCI emphasized the need for comprehensive documentation regarding costs and funding sources. Both stakeholders and political officials expressed concerns over the lack of detailed projections from the Ministry of Labour, agreeing that the government must present formal legislative proposals to the House of Representatives before an informed public debate can take place.