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Cyprus

Over 1,000 to be cut from GMI scheme due to property ownership

Around 1,200 beneficiaries of the guaranteed minimum income (GMI), will be cut from the scheme as their property values exceed those provided to obtain the payout, the head of the House Labour Committee Andreas Fakontis said on Monday.

The committee heard from labour ministry officials that ten months after the GMI law was passed, applications in several categories had not yet been looked into indepth.

From 22,000 GMI beneficiaries, so far, only the properties of 10,000 had been scrutinised, Fakontis said.

Pensioners who did not apply for GMI within the given deadline of November 30 2014, might have the opportunity to still do so under a new law proposal currently at the committee, he said.

“Many pensioners were confused and while they were beneficiaries, they did not apply,” Fakontis said.

The applications from EU nationals are also being scrutinised, Fakontis said, adding that ministry employees were trying to find proof that applicants have been living at least five years in the country as per the GMI legislation.

 



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