Every single one of the Republic of Cyprus’ 123,000 pensioners will receive an increase in the amount paid to them as a result of the government’s planned pension reforms, Labour Minister Marinos Mousiouttas said on Wednesday as he outlined the current state of plans to stakeholders.
“Of the 123,000 old-age pensioners around today, all are positively affected,” he said, before adding that around 50,000 pensioners will receive an increase in excess of €100 per month, while future pensioners who earned low salaries during their working life may receive increases of up to 60 per cent compared to the current system.
He said that the reform will “mean immediate income support for thousands of families at a time when the cost of living is putting more pressure on the elderly and houses with lower incomes”.
“The most important social choice of the reform is to give the greatest support to [those on] the lowest pensions,” he added.
More to follow…
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