Cyprus Plans Comprehensive Pension Reform with Significant Increases
Labor Minister Marinos Mousiouttis announced a fundamental reform of the Cypriot pension system, which has remained unchanged for 46 years. The planned measures include significant pension increases, changes to the small allowance ("mikro tsekoudi"), improved benefits for mothers and caregivers, and an adjustment of penalty payments from 12% for early retirement. The reforms are set to take effect from January 1, 2027.