Larnaka: President of the Republic Nikos Christodoulides announced that the government is set to advance with pension reforms this year, focusing on increasing pensions, particularly for low-income pensioners.
According to Cyprus News Agency, President Christodoulides revealed during the inauguration ceremony of the Municipal Home for the Elderly in Larnaka that welfare spending saw a 5% increase last year, with a further 6.5% rise anticipated in 2026, bringing the total to approximately 600 million euros. The government is committed to enhancing the quality of life for the elderly through various measures and policies implemented since the beginning of his administration.
President Christodoulides highlighted the achievements of his administration over the past three years, including the preparation and adoption of the First National Strategy and the Action Plan for Active Ageing. This plan comprises 45 specific policies aimed at promoting the health, dignity, social participation, and integration of the elderly.
The President emphasized the significance of pension reform, noting that the last major reform in Cyprus occurred in 1980. The forthcoming reform, planned for 2026, is aimed at raising pension levels, particularly for those on lower incomes, as it is increasingly difficult to manage on pensions of 500 or 510 euros. Preparatory work for this reform has already commenced, he concluded.