The confidence that all social partners will rise to the occasion so that the pension reform can move forward “so that by January 1, 2027, people will feel the change,” Labor Minister Marinos Mousiouttas said on Wednesday, who participated in a meeting of the Cyprus Chamber of Commerce and Industry (KEBE) Board of Directors during which proposals regarding the sustainability of the Social Security Fund and public finances were discussed.
Speaking before the meeting began, Mr. Mousiouttas said that pension reform “is more than necessary,” adding that it is an issue that “it is time to address, after 46 years.”
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The Minister noted that the discussions so far have included both agreements and disagreements, observing that “that is the nature of constructive dialogue: there is discussion, an exchange of views, and new ideas that one may not have considered before, with the ultimate goal for all of us being to reach a solution that benefits the entire Cypriot people, all retirees, and all workers.”
He also said that today’s session is discussing the points where there are areas of agreement and disagreement regarding the proposals that have been submitted, “taking into account the sustainability of the Social Security Fund as well as public finances.” Finally, he thanked CEB President Stavros Stavrou and expressed his confidence that “the discussion will be constructive” and “will ultimately make us all wiser.”.
For his part, Mr. Stavrou reiterated that “the reform must take place,” noting that they will soon submit their proposals in writing based on the actuarial study. “We received today the actuarial study we requested from our experts; we are reviewing it, and as we promised our friend the Minister, we will submit our proposals in writing very, very soon.”
He added that the reform must be carried out on a sound foundation, ensuring the sustainability of the Social Security Fund, “that there be no increase in any contributions, that the retirement age not be raised, and that the reform certainly be sustainable and fair for everyone.”
He also said that “we hope that the necessary balances will be found so that we can arrive at the reform we are all waiting for.” He expressed the hope that the “unclear points” would soon be clarified so that “we can all arrive at clear positions and reach the necessary compromises.”
The President of the Cyprus Chamber of Commerce and Industry thanked the Minister of Labor for his presence and expressed his hope for a constructive discussion.
Source: CNA
