Cyprus’ Labour Advisory Board will meet on Friday morning under Labour and Social Insurance Minister Marinos Mousiouttas to continue discussions on the pension reform bill and the government’s proposal.
The meeting will begin at 10.30 am at the Labour Ministry, with the participation of trade union and employers’ organisations.
Focus on the zero pillar
Speaking to the Cyprus News Agency (CNA) on Thursday, Mousiouttas said the presentation and analysis of the bill would continue on August 28, initially at a meeting of the Technical Committee and subsequently before the Labour Advisory Board.
Particular emphasis will be placed on the zero pillar and the low-pensioner allowance, he said.
The Minister explained that discussions on the three pillars of the pension reform would take place in parallel. However, he said the completion of discussions on Provident Funds is not a prerequisite for submitting the bill to Parliament.
Bill expected in Parliament in September
Mousiouttas said the aim is for the bill to be submitted to Parliament during September.
He added that it would be desirable to have reached a comprehensive agreement on the second pillar by then.
The relevant Technical Committee will begin regular meetings on September 1 on the second pillar, which concerns Provident Funds.
Discussions will continue throughout September, with the aim, if possible, of reaching a comprehensive agreement by mid-October, Mousiouttas said.
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