Some were waiting based on the announcements, while others will find out from the retirees, who—ever since the amendment bill was made public—have been asking how much their pension will be next year.
“The increases that were presented—let’s say they’re spread out over five years. Our retirees had different expectations, especially at this time, and particularly those on low pensions who are in a very difficult situation.” Eftychios Papamichail, General Secretary of EKYSY
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
Haris Papatheocharous: A photo with his wife from 2015
Pension reform: Aim is to bring it before the Cabinet soon
They also remain dissatisfied with the 12% penalty, since, as he explains, the 7.5% that was announced does not apply to the total pension amount, and therefore the actuarial reduction will not be significant enough.
“Since any reduction proposed will apply to the base portion of the pension. Today, as we know, the reduction applies to the total pension, while any benefit will apply to the base portion of the pension, and this will take effect over time.” Eftychios Papamichail, General Secretary of EKYSY
“We proposed that the penalty be reduced based on the number of years a person has contributed to the social security system. But beyond that, we have some concerns regarding the approach taken to the changes being made to disability pensions. It is a shortcoming that there is no provision for widowers who lost their spouses before 2018.” Sotiroula Charalambous, Secretary General of PEO
SEK is in contact with the European Trade Union Confederation to review the amendments.
“SEK emphasizes the need to immediately advance the remaining Pillars of the Reform, so that the outcome is comprehensive as a result of social dialogue and aligns with the goal of a substantive and comprehensive reform of the pension system.” SEK
Pillar 2 and the welfare funds remain a bone of contention among the social partners. While the unions are calling for mandatory regulation, employers characterize such a move as a casus belli.
“There is a need to verify the scenarios based on our own data and the actuaries advising us. We will need clarifications regarding the transition periods—specifically, the five-year period following the implementation of the new regulations. “Because there is an area there with some initial ambiguities as far as our understanding is concerned.” Michalis Antoniou, General Director of the OEB
“What we must also point out is that the timeframes we’re working with are extremely tight, which is why we’re collaborating with our external consultants; Beyond that, we are certainly interested in looking beyond the contributions to the overall cost of the reform and how these funds will be secured.” Philokypros Rousounidis, Secretary General of the Cyprus Chamber of Commerce and Industry (KEVE)
The explanatory tables regarding Pillar 0—low-income pensioners—were also presented to the social partners. This will be analyzed just before the scheduled meeting on August 28, and after the presentation is completed, the partners will be given the floor to express their concerns and questions.
See the report by Kleio Vourkou
