The President of the Republic, Nikos Christodoulides, describing it as the most significant and substantial overhaul of the country’s social security system since 1980.
At the heart of the new plan are support for low-income pensioners, correcting disparities affecting mothers and people with disabilities, and ensuring the long-term sustainability of the Social Insurance Fund (TKA) for future generations.
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
The Presidency’s announcement reads as follows:
“Today we presented to the social partners the framework for reforming our country’s pension system. This is the largest and most substantial pension reform since 1980.
A reform that aims for greater fairness, adequacy, and security for every generation.
A reform based on two non-negotiable principles:
More dignified pensions today, and a sustainable Social Security Fund for tomorrow.
A reform that provides the greatest support to our low-income retirees. A reform that boosts disposable income for households.
Our message to every retiree, every worker, and every young person is clear: This reform is for you.
It is for the retiree who deserves a better quality of life,
It is for the worker who wants to secure their future.
It is for the mother who took a break from work to raise her children,
It is for our fellow citizen with a disability who did not have equal opportunities for social security coverage,
It is for our young people who are studying and preparing to enter the workforce.
It is for future generations who need a secure Social Security Fund.
Pension Reform is yet another important chapter in our administration’s major reform program—our great effort to transform Cyprus.
Following the Tax Reform, the substantive reforms regarding benefits for people with disabilities, the permanent agreement on the ATA, the increases in the minimum wage, the new policy framework for people with disabilities, policies to support families and employment, and many other reforms, we are moving forward with the same determination, boosting disposable income for every household, every business, every young professional, and every retiree. Always grounded in our ideological and political framework—Social Liberalism—which combines a resilient and competitive economy with a strong welfare state, which combines fiscal responsibility with social justice, which encourages individual effort and solidarity, and offers equal opportunities to all. For us, change in our country and progress in our homeland are measured by improvements in the daily lives of every citizen.
With seriousness, responsibility, social sensitivity, and a sense of duty toward the future, we are transforming our Cyprus.”
