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Home News Cyprus

EKYSY: Increase in pensions, increase in the cost of living

Andri Flourentzou by Andri Flourentzou
13/01/2022
in Cyprus
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The ECYSY expresses its indignation at the small percentage increase in pensions with the new year, stating in a statement that the living standards of retirees have been significantly reduced by the extremely large increases in the prices of fuel, electricity and other basic necessities. In addition, he calls on the government to take measures to protect low-income retirees and abolish the 12% penalty for those retiring at the age of 63.

The Social Insurance Services of the Ministry of Labor, announced, announced that, from January 2022, Social Security pensions increase by only 1,22% in the basic part compared to the amounts in force on 31.12.2021. At the same rate, pensions will be increased in the supplementary part.

EKYSY calls on the Government to take measures to control prices and provide compensatory benefits to retirees and other vulnerable groups of the population, to address the serious problems that have arisen.

The priority of EKYSY, according to its announcement, is to regain and restore all the rights of retirees to where they were before the crisis, as well as to further improve the Special Sponsorship Plan for low-income retirees, so that there are no retirees with incomes below the poverty line.

The announcement also clarifies that from January 1, 2022 the basic part of the minimum pension increases from € 375,28 to € 379,85, without dependents.

Tags: EKYSYPensions
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Andri Flourentzou

Andri Flourentzou

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