Time is running out for the bill on pension reform to be debated in Parliament and passed within the desired timeframe, the Minister of Labor and Social Insurance, Marinos Mousiouttas, told CNA, noting that the bill is currently with the Legal Service for a technical review and that as soon as it is completed, he intends to submit it to the Cabinet.
He acknowledges, however, that there is not much time left before Parliament adjourns for Christmas, as the intention is for the reform to be passed before the end of the year, so that it can take effect on January 1, 2027.
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The Minister also told to CNA that discussions on Pillars 0 and 1 have been completed in the Labor Advisory Council, which will continue its meetings every Monday, starting November 9, to discuss the second pillar, in an effort to find a middle ground between the social partners.
When asked when the reform is expected to be presented to the Cabinet, Mr. Mousiouttas said, “We are awaiting the opinion of the Legal Service. As soon as it is ready, we will take it to the Cabinet and the House of Representatives.” “I actually wanted to submit it sooner,” he said, noting that there are 1.5 months left before the House of Representatives adjourns.
When asked whether he would be able to meet the deadlines he had set for implementation starting on January 1, the Minister noted that “the less time there is, the harder it gets,” though he expressed confidence that “we’ll make it.” “I believe we can,” he said, noting that the Ministry will be able to respond promptly regarding whether any proposals from Members of Parliament can be implemented. “The changes they may want are of a financial nature, and there isn’t much leeway there,” he said.
Mr. Mousiouttas will be abroad next week, so the bills are not expected to be submitted to the Cabinet this week.
Furthermore, when asked whether the discussion on Pillars 0 and 1 in the Labor Advisory Council—which are most directly related to the bills to be put to a vote—has been concluded, the Minister said, “I have no intention of reopening this issue in the Labor Advisory Body, unless something comes up.” The discussion will move to Parliament, he said, unless the social partners come forward with a new proposal that falls within the Fund’s capabilities.
Regarding the condition set by the unions—that there must be an agreement and a roadmap for the Provident Funds before the bills reforming Pillars 0 and 1 are voted on— the Minister said that this “will be decided by Parliament.” “We initiated the discussion, which had already been taking place for some time in the Technical Committees. I brought the issue before the Labor Advisory Council. The first discussion took place the day before yesterday and will continue on November 9,” he said.
“Our intention is to move forward,” he said, clarifying, however, that the reform cannot be delayed because of this. He noted that it has already become clear that there are two major points of disagreement between the two sides: whether the Provident Funds will be voluntary or mandatory, and whether the existing Provident Funds will be included in the reform or not.
The Minister said that the goal is to find a middle ground and that the government will present its position at a future session. He also noted that by the time the debate begins in Parliament, discussions regarding the Provident Funds will have progressed. “With good will, these issues can be overcome,” he said.
Source: CNA
