Keve to discuss pension reform with House Speaker on September 1
Keve will present business community positions on pension reform to House Speaker Annita Demetriou ahead of proposed legislation.
Nicosia, Cyprus. The Cyprus Chamber of Commerce and Industry (Keve) executive committee will meet House Speaker Annita Demetriou on September 1, 2026, to discuss pension system reform and proposals from the business community.
The meeting is part of Keve’s structured dialogue with political leaders on issues affecting the national economy, businesses and society.
Planned pension overhaul
The government is preparing to submit a legislative package for the first major pension system overhaul since 1980, with implementation planned for January 1, 2027.
Under the reform presented by Labour Minister Marinos Mousiouttas, all pensioners would receive increases, while lower-income recipients would receive proportionally larger gains.
Expected increases
More than 51,000 of Cyprus’ 123,212 social insurance pensioners are expected to receive monthly increases exceeding €100, phased in over five years.
Pensioners receiving up to €600 would receive an immediate minimum increase of €30 in the first month of implementation. A full-career worker currently receiving a monthly pension of €504 could receive total increases of up to €250 per month over the five-year rollout.
Other measures
The government also plans to reduce the 12 per cent actuarial penalty for people retiring at age 63 to 7.5 per cent on the basic pension component.
Social contribution credits are planned for mothers taking career breaks, informal carers, persons with disabilities and people entering the workforce.
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