PEO demands higher minimum wage as one-third of workers earn under 1,500 euros

The Pancyprian Federation of Labour (PEO) announced on Monday that it will demand a substantial increase in the national minimum wage for 2027 to address the rising cost of living and combat poverty. During an expanded session of its General Council, the union highlighted that 188,697 salaried employees in Cyprus, representing more than one in three workers, earn less than 1,500 euros gross per month. This figure was corroborated by a Statistical Service (CyStat) report from October 27, 2026, which noted that while average monthly gross earnings rose by 3% in the second quarter of 2026 to 2,548 euros, a significant portion of the workforce remains in a low-income bracket.

The union’s meeting also served to review the outcomes of 174 collective agreements renewed in late 2025 and early 2026, which covered 104,183 employees and secured average wage increases exceeding 3% plus Cost of Living Allowance adjustments. Looking ahead to 2027, PEO plans to prioritize stronger collective bargaining, improved real wages, and a more equitable distribution of national wealth. Furthermore, the federation criticized the government’s current pension reform proposal, arguing that it fails to adequately support existing pensioners and imposes overly strict qualifying criteria for future beneficiaries.