The preliminary draft of the bill and the technical summary for the major pension reform were submitted to the social partners, as announced by the Minister of Labor and Social Insurance, Marinos Mousiouttas. Speaking at the conclusion of the meeting, the Minister outlined the implementation timeline as well as the rationale behind the proposed changes.
Mr. Mousiouttas emphasized that the goal is to achieve the broadest possible consensus so that the bill can be forwarded immediately to the Council of Ministers and subsequently to the House of Representatives. As he noted, the goal remains to honor the commitment made to citizens: “The goal is for people to feel the difference brought about by the pension reform by January 1, 2027. They will feel it on February 1, when they receive their first payment under the pension reform.”
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Read more: Pension Reform: “People Will Feel the Difference in the First Payments at the End of January ’27”
Describing the changes as historic, the Minister of Labor stated that this is “the largest pension reform since 1980,” designed with a focus on “greater fairness, sufficiency, and security for every generation.” He made it clear, in fact, that the reform does not apply exclusively to current retirees, but extends to future retirees, current workers, and the younger generation preparing to enter the labor market.
At the same time, Mr. Mousiouttas emphasized that the plan is holistic and “not piecemeal,” covering both basic pensions and provident funds for future retirees. Finally, he noted that the relevant material will be made available immediately to media representatives so that they can receive complete and accurate information directly from the source.
