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Pension Reform Targeted for January 1, 2027, Bills to be Submitted in June

Published January 26, 2026, 14:23

The Minister of Labour and Social Insurance, Marinos Mousiouttas, informed the Parliamentary Committee on Finance about the pension reform, which is expected to come into force on January 1, 2027, if approved by the Parliament. The relevant bills are expected to be submitted to the Parliament in June. The Minister assured that the reform will resolve existing distortions and increase pensions and benefits. He also announced that the state's debt to the Social Insurance Fund amounts to €11.3 billion, while the total debt to all Funds reaches €12.8 billion. The budget of the Social Insurance Fund for 2026 provides for revenues of €3,769,782,936 and expenditures of €2,743,074,164, with an estimated surplus of €1.03 billion. 'Other revenues' and 'other expenditures' refer to an accounting entry for the re-deposit of timely deposits in commercial banks. In addition, the budgets for the Leave Fund, the Insolvency Fund and the Surplus Fund were presented, all of which are surplus. The reform will include provisions for the investment policy of the SIC and its management.