Pension reform bill headed to Cabinet in early July as key week of talks begins

Economy LabourpensionsTop Newstrade unions Pension reform bill headed to Cabinet in early July as key week of talks begins Pension Reform Bill Headed To Cabinet In Early July As Key Week Of Talks Begins Relevant News Bedroom fire in Lakatamia caused by iron left on, initial reports suggest 20 June 2026 Pension reform bill headed to Cabinet in early July as key week of talks begins 20 June 2026 New Strovolos road poses fall risk to homes below, public works says fix is coming 20 June 2026 Angelos Angelodimou 20 June 2026 FacebookXWhatsAppEmailPrintViber The Labour Ministry intends to submit Cyprus’s pension reform bill to Cabinet in early July, most likely on July 1 or 2, according to Phileleftheros sources, as a critical week of consultations gets under way. The coming week will be pivotal in shaping the bill’s final form, with a Labour Advisory Body session scheduled for Monday June 23, meetings with political parties and organisations planned, and the parliamentary Labour Committee convening for the first time in its new post-election composition on Tuesday June 24. The Monday session is considered particularly significant. If the Labour Ministry submits the bill on July 1 or 2 as planned, social partners are expected to declare their position at that meeting. Both employers and unions want agreement on the first and second pillars of the reform — including provident funds — even if the second pillar is implemented at a later stage. Outstanding issues between the two sides include the final minimum pension amount, the extent of the reduction to the 12% early retirement penalty, and the framework within which the committee overseeing SIKA’s investment policy will operate. On Tuesday June 24, Labour Minister Marinos Moushouttas has been invited to address the OEB Board of Directors to brief members on the bill’s final details and the government’s intended course of action. Further meetings are likely during the week, though none have been officially announced. The parliamentary Labour Committee also convenes on Tuesday for the first time under its new composition following the parliamentary elections, to plan its upcoming schedule. Pension reform is expected to feature on the agenda, with the Labour Minister likely to be called before the committee for a briefing in the near future. The government’s stated objective is for the reform to take effect on January 1, 2027. Phileleftheros reports that the government is keen to avoid delays, given that 2028 is a presidential election year and campaigning is expected to begin a year before. Should outstanding issues — including the second pillar — remain unresolved, a change of government in 2028 could lead to a policy shift or require the dialogue to restart. Phileleftheros describes this scenario as remote but not impossible. Subscribe to our Newsletter Latest News Bedroom fire in Lakatamia caused by iron left on, initial reports suggest New Strovolos road poses fall risk to homes below, public works says fix is coming Man arrested after knife attack leaves victim in serious condition Motorcyclist killed in collision with minibus in Limassol Cyprus weather: scattered storms, highs of 33C Israel and Hezbollah agree ceasefire in Lebanon after deadly overnight strikes Overnight pharmacies on Thursday, June 19 Follow en.philenews on Google News and be the first to know all the news about Cyprus and the world.