Cyprus Times

President Announces Pension Reform to Benefit Low-Income Retirees

Published January 9, 2026, 18:08
President Announces Pension Reform to Benefit Low-Income Retirees

The President of the Republic, Nikos Christodoulides, stated that the government is proceeding with pension reform aimed at strengthening pensions, particularly those of low-income retirees. He emphasized that spending on the welfare state has increased by 5% in the past year and is expected to increase further by 6.5% in 2026, reaching around 600 million euros. The President made these statements at the inauguration of the new Larnaca Municipal Geriatric Center 'Evanthia Pieridou', noting that the city has received significant funds from co-financed programs. He also referred to the prospect of Larnaca playing an important role as the European Capital of Culture in 2030 and the need to prepare proposals for the new cohesion fund.