President Nikos Christodoulides said proposed pension increases could range from €250 to €300, depending on the pension received and the formula ultimately adopted.
The government is at an advanced stage of preparing its pension reform, with the draft legislation expected to be completed by the end of the week.
Focus on lower pensions
Speaking during an interview with ANT1 television on Monday evening, Christodoulides said the reform’s primary objective was to deliver a substantial increase for people receiving low pensions.
“Depending on the pension, we are talking about €250 to €300 and so on. There are different formulas,” he said.
The President discussed the proposals during an hour-long meeting with Minister of Labour Marinos Mousiouttas on Monday. A further meeting with Mousiouttas and Minister of Finance Makis Keravnos is scheduled for Friday.
Bill to go before social partners
Mousiouttas is also due to meet Keravnos on Wednesday to discuss the reform.
The government aims to complete the bill by the end of the week and then present it to the social partners. Two meetings of the Labour Advisory Body have already been scheduled for 19 and 28 August.
Christodoulides expressed hope that the parliamentary process would proceed without lengthy delays, while acknowledging the need for scrutiny.
“I hope that when it goes to Parliament, it will not be discussed for six months, with the Cypriot people paying the price,” he said. “We are ready. Once it reaches Parliament, there should, of course, be discussion and parliamentary scrutiny.”
