Cyprus government advances pension reform and equality directive

Cyprus Minister of Labor and Social Insurance Marinos Mousiouttas announced an ongoing dialogue to reform the national pension system, which has remained largely unchanged since the 1980s. The reform aims to address low pension levels and structural distortions while ensuring the transparency and independence of the Social Insurance Fund. Officials are currently discussing the fund's investment policy and the repayment of government debt to it. A legislative bill is scheduled to be submitted to Parliament in June 2026. Prior to the submission, the Minister plans to consult with all parliamentary parties. Meanwhile, the Labor Advisory Body is prioritizing the transposition of EU Directive 2023/970 regarding equal pay for men and women, with a compliance deadline of June 7, 2026. Due to upcoming elections, the government hopes for parliamentary processing by mid-July, though a delay until September remains possible. Other discussions involve amending Article 85A of the Social Insurance Law.