Cyprus

EKYSY: The Government should not make fun of the pensioners

The government should provide compensatory benefits and not make fun of the pensioners, EKYSY states in its announcement.

As he notes, "the 4,3% announced as increases in pensions concerns the increase related to ATA".

Such is the announcement

The government announced 34m euros for retirees in a package of measures decided by the Council of Ministers on May 27th at a total cost of 103m euros. However, EKYSY clarifies that the 4.3% percentage that has been announced to increase the pensions of 165.000 retirees refers to the increase related to the Automatic Indicator Adjustment (ATA) and does not need a decision of the Council of Ministers to be given. Pursuant to the legislation of the TCA from 1980, it is foreseen to adjust the pensions twice a year, every January and July. In this case the increase that will be granted to all pensions is equal to the increase of the average consumer price index during the first half of the year, ie January-June 2022 compared to the average of this index during the second half of the year. last year, provided that the increase is equal to at least 1%. Given that inflation is high, based on forecasts the ATA is expected to be 4,3% and the cost is covered by the Social Insurance Fund. EKYSY insists that the government should take into account the recommendations of the organization for real support of retirees and especially low-income retirees. We remind you that among its demands is the coverage of low-income retirees with code 08 of the EAC as well as their inclusion in vulnerable groups of the population to have a 20% discount on electricity consumption. It also suggests the reduction of VAT on basic consumer products and to subsidize medicines that are not covered by the GESY so as not to significantly burden the income of retirees. The government in this package of measures announced could accept the proposals of EKYSY for granting compensatory benefits for as long as the wave of accuracy lasts

Tags: EKYSY

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