Nicosia, Cyprus. President Nikos Christodoulides said the government’s reform agenda will prioritise pension reform aimed at substantially increasing payments, particularly for low-income pensioners. He linked the reform programme to what he described as strong economic performance and stable public finances.
Address at SEK congress
Christodoulides spoke at the opening of the 30th congress of the workers’ federation (Sek) in Nicosia, saying pension system reform is a central element of the government’s policy programme alongside wider labour and economic measures.
He described SEK as an important institutional partner in government consultations on labour and social policy.
Labour measures and social dialogue
The president referred to cooperation with trade unions on issues including the cost of living allowance and the minimum wage, saying social dialogue has produced tangible outcomes.
He said the cost-of-living allowance is now agreed at 100 per cent, after being received at 50 per cent in 2023, and that the minimum wage has increased twice during the three years of the government’s tenure.
Economic indicators cited
Christodoulides said stable public finances and sustained growth allow the state to implement social measures without undermining fiscal discipline.
He cited high growth rates, a fiscal surplus, low inflation and reduced public debt, and said unemployment has fallen to historically low levels, with full employment achieved for the first time in almost two decades.
He also said Cyprus has received 27 upgrades from international credit rating agencies since the government assumed office in March 2023, returning the country to investment grade for the first time since 2011.
What do you think should be the top priority in pension reform for low-income pensioners?
