Kostas Stavrakis, actuary and coordinator of the ILO project team, lays out his views in “Alpha on Sunday”
Kostas Stavrakis, actuary and coordinator of the International Labor Organization’s project team, analyzes the key aspects of pension reform, the philosophy behind the initiative, and the profile of the Cypriot retiree in “Alpha on Sunday” Kostas Stavrakis, an actuary and coordinator of the International Labor Organization’s (ILO), which for the past 60 years has been providing technical assistance to the Cypriot government in the field of social security, including the preparation of relevant actuarial studies.
The ILO’s role has been particularly significant both in the reform of the Social Insurance Scheme in 1964 and in its subsequent reforms, such as the introduction of the proportional pension in 1980, as well as in the current effort to reform the pension system.
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The actuary also addresses the pressing questions raised by the social partners regarding the possibility of increasing contributions, the adequacy of pensions, the 12% penalty, the sustainability of the Social Security Fund, and the government’s contribution.
