As work on pension reform enters its final stages, time is running short for the government to fulfil commitments made to pensioners, who are eagerly awaiting increases from the start of next year.
Repeated pledges of substantial pension rises, reportedly reaching as much as 55 per cent, have raised expectations among pensioners struggling to cope with the rising cost of living.
The expectations were further heightened by President Nikos Christodoulides, who publicly stated that pension increases could amount to €250-€300 per month.
It is increasingly clear, however, that the commitments made are far removed from the fiscal capacity of the economy, with the numbers not appearing to support their implementation.
As a result, the government is reportedly examining alternative scenarios.
Among the options being discussed is a reduction in pensions for higher-income retirees, a proposal that had previously triggered strong reactions before being withdrawn by the government.
In my view, however, pension reform cannot be implemented by taking money away from people who worked their entire lives and contributed to state funds.
It does not matter whether they receive higher pensions. They did not steal them; they earned them through years of work and contributions.
If the state wants to honour the commitments it has made, it will have to dig deep into its pockets.
If it cannot, or if economic realities do not allow it, then it should say so openly and publicly.
