Cyprus pension reforms to increase payments for all 123,000 pensioners
Labour Minister Marinos Mousiouttas said planned pension reforms will raise payments for all pensioners, with about 50,000 set to receive more than €100 extra per month.
Nicosia, Cyprus. All 123,000 old-age pensioners in the Republic of Cyprus will receive higher payments under planned government pension reforms, Labour Minister Marinos Mousiouttas said on Wednesday.
He said around 50,000 pensioners are expected to receive increases exceeding €100 per month, while future pensioners who earned low salaries may receive payments up to 60 per cent higher than under the current system.
Support for lower-income households
Mousiouttas said the reforms would provide immediate income support to thousands of families as the cost of living places increased pressure on elderly people and lower-income households.
He said the central social objective of the reform was to provide the greatest support to people receiving the lowest pensions.
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