Social insurance fund bill to reach parliament this month

Nicosia, Cyprus. A bill regulating the operation of the social insurance fund will be submitted to parliament this month as the first pillar of pension reform, Labour Minister Marinos Mousiouttas said on Tuesday night.

Speaking at a festival in Xyliatos, Mousiouttas said pension reform was the government’s most important reform this year and would increase all pensions, with greater support for low-income pensioners.

Pension and tax reforms

Mousiouttas said the pension reform aimed to provide increases across all pensions while directing the greatest support to those receiving low pensions.

He also referred to tax reform introduced at the beginning of the year, describing it as a fairer system with a higher tax exemption and deductions reflecting household expenses, including children’s studies, rent and loan instalments.

“In practice, it means more money where the family really needs it,” he said.

Education and mountain communities

The minister also referred to education reforms, including the new system for evaluating teachers and educational work.

He said the new system replaced a formal and one-dimensional process with a formative system.

On mountain communities, Mousiouttas said their development remained a priority for the government and President Nikos Christodoulides. He said the aim was to halt village desertification, create employment opportunities, support local production and soft tourism, and allow young families to choose to live in villages again.