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President of Cyprus Announces Pension Reform to Support Low-Income Retirees

Published January 9, 2026, 18:11
President of Cyprus Announces Pension Reform to Support Low-Income Retirees

The President of Cyprus, Nikos Christodoulides, announced that the government is proceeding with a pension reform aimed at strengthening pensions, particularly those of low-income retirees. He also highlighted the increase in spending on the welfare state, which rose by 5% last year and is expected to increase by 6.5% in 2026, reaching around 600 million euros. The statement was made at the inauguration of the new Larnaca Municipal Elderly Residence “Evanthia Pieridou”, a city that has received significant funding from co-financed programs. The President also mentioned the preparation of proposals for the new Cohesion Fund, in view of the 2030 Cultural Capital. The government has prioritized improving the quality of life for the elderly, through the National Strategy for Active Aging and the housing subsidy scheme for nursing homes, which has already benefited hundreds of citizens.