Averof Neofytou criticizes government pension reform and 12% penalty reduction

On September 12, 2026, former DISY president Averof Neofytou publicly criticized the government's proposed pension reform, characterizing the reduction of the 12% actuarial penalty for early retirement at age 63 as deceptive. In a social media post, Neofytou argued that the changes do not provide meaningful relief to retirees.

Neofytou stated that the planned reduction of the penalty will result in a maximum monthly pension increase of only 23 euros. He further alleged that the government is concealing the fact that this adjustment applies exclusively to the first 500 euros of the pension amount, rather than the total benefit. By failing to clarify this scope, he claimed, the authorities are misleading the public about the actual financial benefits of the reform.

The debate centers on the government’s efforts to revise the current 12% penalty imposed on those retiring at 63. While the government presents these adjustments as part of a wider pension reform, opposition figures like Neofytou contend that the mathematical impact is marginal and constitutes a mockery of the retirees' needs. The issue remains a point of contention regarding the transparency and effectiveness of the proposed adjustments to the national social security framework.