Cyprus’s Employers and Industrialists Federation (KEVE) has called for full actuarial and fiscal documentation of the proposed pension reform, including clear data on the total cost, funding sources, and consequences for both insured workers and businesses. The demand was made at a meeting with AKEL General Secretary Stefanos Stefanou and party officials.
KEVE Board of Directors President Stavros Stavrou, along with a delegation from the Executive Committee and Secretariat, presented the Chamber’s positions, stressing that the proposed changes would have wider economic, fiscal and employment consequences.
Viability and predictable costs
The Chamber repeated that the main goal must be the long-term viability of the Social Insurance Fund, without an increase in contributions, while also stressing the need to maintain proportionality between contributions and benefits and to ensure stable, predictable costs for businesses and workers.
KEVE acknowledged the need to modernise the system and strengthen pension adequacy, but stressed that the transition to the new system must be smooth and fair, without creating new imbalances between workers, income groups and generations.
According to the statement, the meeting took place in a constructive atmosphere, with both sides recognising the importance of open, substantive dialogue aimed at a socially fair and economically viable reform that safeguards the interests of both current and future generations.
