Cyprus Times

Substantial Dialogue on Pension Reform, Says Labor Ministry

Published March 23, 2026, 14:12
Substantial Dialogue on Pension Reform, Says Labor Ministry

The Ministry of Labor announced that the dialogue on pension reform is substantial and constructive. Today's session of the Labor Advisory Board focused on the strategic objectives of the second pillar of the reform, concerning occupational pension schemes (Provident Funds). The pillars of the reform include the independence and upgrading of the supervisory authority, strengthening the legislative framework, expanding coverage, enhancing the adequacy of pension incomes, and the tax treatment of the second pillar. The Minister of Labor expressed his satisfaction with the constructive attitude of the social partners and emphasized that the dialogue aims to shape policies that will improve the lives of workers and pensioners. The first pillar of the reform is progressing according to schedule, with a bill to be submitted to Parliament in June.