The Minister announced that the pension reform will be brought before Parliament and implemented as of January 1, 2027, with the aim of strengthening pensions and safeguarding the Social Security Fund, was announced by Labor Minister Marinos Mousiouttas. In his remarks at the Sponsors’ Gala Dinner hosted by the “Daphne” Sports Club of Troulon, he also referred to government policies on social cohesion, the economy, and strengthening national defense.
The government’s goal remains the implementation of the pension reform as of January 1, 2027, he stated, noting that the relevant bill is currently making its way to Parliament.
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As he noted, this is the first radical change to the social security system in nearly half a century.
The main goal of the reform is to increase pensions, with an emphasis on the lowest ones, as well as to recognize periods spent caring for children and relatives, disability, and education.
At the same time, Mr. Mousiouttas stated that the government’s borrowing from the Social Insurance Fund will be terminated and that the debt will begin to be gradually repaid. The Fund’s reserves, he said, amount to approximately 12 billion euros, while surpluses will be invested under a modern and transparent supervisory framework.
He added that, through social dialogue, efforts are also being made to strengthen the second pension pillar, through occupational plans and provident funds, in order to provide supplementary income to future retirees.
Referring to government policies, the Minister of Labor said that responsible fiscal policy and a resilient economy allow for investments in health, education, and the welfare state. He also mentioned the tax reform, which took effect in January 2026, as well as the education reform.
Regarding defense and foreign policy, he emphasized that economic resilience, deterrent power, and a steadfast European and Western orientation are key elements in strengthening Cyprus’s position internationally.
Furthermore, Mr. Mousiouttas praised the work of the “Daphne” Athletic Club in Troulon, which was founded in 1952 and is celebrating its 74th anniversary this year, as well as the contribution of sponsors in supporting sports and the community.
He made special mention of the women’s soccer team of “Daphne” and the new “Catch and Serve” table tennis team, which took third place in the first Pan-Cyprian Championship.
Finally, the Minister praised the role of Troullos as a frontier community, noting that support for local clubs helps preserve social life and create opportunities for the younger generation.
Source: CNA
