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Ministry of Labour: Substantial Dialogue on Pension Reform

Published March 23, 2026, 14:12
Ministry of Labour: Substantial Dialogue on Pension Reform

The Ministry of Labour and social partners are engaged in a substantial dialogue regarding pension reform, with a focus on the second pillar. The Minister of Labour, Marinos Mousiouttas, expressed his satisfaction with the constructive attitude of the social partners and characterized the dialogue as crucial for shaping policies concerning workers and pensioners. The outline of the five key pillars of the second pillar, relating to occupational pension schemes (Provident Funds), was presented at the meeting. These pillars include the independence and upgrading of the supervisory authority, strengthening the legal framework, expanding coverage, enhancing the adequacy of pension incomes, and the tax treatment of the second pillar. The Minister of Labour emphasized that there were no disagreements during today's session, as specific options were not discussed, but the strategic goals of the reform were presented. The aim is to create a widely accessible supplementary insurance system that operates with transparency and reliability. At the same time, the first pillar of pension reform is also progressing, with a bill to be submitted to Parliament in June and its implementation from January 1, 2027. Today's discussion was an initial general presentation of the reform's objectives, to inform social partners about the overall framework.