Cyprus Chamber of Commerce and Industry expresses concerns over pension reform

On October 14, 2026, the Cyprus Chamber of Commerce and Industry (KEBE) officially submitted its reservations regarding the government's proposed pension reform to the Ministry of Labour. The Chamber identifies several "red lines" that it believes threaten the economic stability of businesses and the overall fairness of the pension system.

Specifically, the Chamber is demanding a formal legal opinion concerning the proposed reduction of supplementary pensions and is calling for the removal of provisions that would allow for future contribution increases. Furthermore, KEBE opposes measures that escalate employer costs, such as the imposition of social security contributions on extraordinary payments and the extension of contribution periods until the age of 67. The organization has also raised concerns regarding unequal treatment between the public and private sectors, requesting full actuarial cost analysis and additional data to ensure the reform does not burden businesses or reduce pension benefits.

As of October 16, 2026, the Chamber maintains that further dialogue is required between the government and the private sector. The organization emphasizes the necessity of striking a balance between long-term fiscal sustainability and the protection of business interests to prevent unnecessary financial strain on employers and employees.