The Cyprus Chamber of Commerce and Industry (Keve) has announced that its executive committee will hold a meeting on September 1, 2026, with House Speaker Annita Demetriou.

According to Keve, the upcoming discussion will focus primarily on matters concerning pension system reform, giving particular weight to the specific positions and proposals put forward by the business community.

The chamber explained that this high-level session forms part of an ongoing structured dialogue conducted by Keve with political leaders on critical issues impacting the national economy, commercial enterprises, and wider society.

The talks come as the government prepares to submit a legislative package for the first major overhaul of the pension system since 1980, aiming for implementation on January 1, 2027.

Under the planned reform presented by Labour Minister Marinos Mousiouttas, all pensioners will receive increases, with lower-income recipients set to gain proportionally the most.

More than 51,000 of the island’s 123,212 social insurance pensioners are expected to see monthly increases exceeding €100, phased in over five years.

Pensioners currently receiving up to €600 will benefit from an immediate minimum increase of €30 during the first month of implementation.

A full career worker currently earning a €504 monthly pension could see total increases reaching €250 per month over the five-year rollout.

The government also plans to reduce the 12 per cent actuarial penalty for age-63 retirees down to 7.5 per cent on the basic pension component.

Social contribution credits will be introduced to support mothers taking career breaks, informal carers, persons with disabilities, and individuals entering the workforce.

Financial management of the Social Insurance Fund will be restructured, stopping internal state borrowing and shifting reserves into a dedicated investment account.

The government aims to finalise parliamentary submission of the bill in September 2026 following final rounds of consultation with social partners.