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Pension Reform Bills to be Submitted to Parliament in Early June

Published February 24, 2026, 17:12
Pension Reform Bills to be Submitted to Parliament in Early June

The Minister of Labour and Social Insurance, Marinos Mousiouttas, announced that the goal is to submit the bills of the first Pillar of the pension reform to the new Parliament in early June. The bills concern the Social Insurance Fund and the implementation of the new framework is planned from January 1, 2027. The Minister stressed the importance of social dialogue and consensus among social partners. Four sessions of the Labour Advisory Body are scheduled within March, with the aim of examining the issues and achieving the greatest possible consensus. At the same time, a roadmap and a general outline for the second Pillar will be developed, although its implementation requires a longer period (3-4 years) due to technical and practical difficulties. The sessions also discussed the updated bill on minimum wage adequacy and the amending bill for the scheme for the settlement of overdue debts to the Social Insurance Fund. In addition, the transfer of a European directive on equal pay for men and women into national law was discussed, which will be put on the agenda again on March 5. Regarding the actuarial reduction of 12%, the Minister stated that this will be reduced, depending on the criteria to be agreed, with estimates of a reduction of 2% to 10% for both existing and future pensioners. The government places particular emphasis on social dialogue and tripartite cooperation.

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