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Cyprus

Retirement age in north set to rise

retire

People in the north will retire at 65 as authorities are looking to raise the minimum retirement age in the public sector.

Under a new ‘bill’, the minimum retirement age for workers hired in the ‘public’ sector before 2008 will be raised to 65 years, it emerged during a ‘parliament’ discussion on Tuesday.

However, some ‘MPs’ expressed concerns that this would increase the unemployment rate and called for discussion with the interested unions.

The minimum retirement age in the Republic is 65 while workers may receive their pension two years earlier in certain conditions and with a penalty.

This year, an adjustment to the retirement age is expected based on the change in life expectancy in the five-year period from 2018-2023.

A former official at the labour ministry had said the age is expected to increase, mirroring the increase in life expectancy.

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