The government is aiming for a comprehensive reform of the pensions system to come into force by January of next year, labour minister Marinos Moushiouttas announced on Thursday.<\/p>\n
Speaking on CyBC radio from Brussels, Mousiouttas said the reform<\/a> would unify the pension and the so-called small cheques paid to low-income pensioners into one cohesive legislation.<\/p>\n \u201cThe effort is to complete the bill by June, so that with the opening of the new parliament after the parliamentary elections, it can be submitted and their discussion can begin,\u201d he said.<\/p>\n \u201cThis will allow the legislation governing the reform of pensions to be implemented from January of next year.\u201d<\/p>\n Mousiouttas stressed that the reform is focused on ensuring pensioners receive a dignified income, while safeguarding the sustainability of the social insurance fund.<\/p>\n \u00a0\u201cThere is a willingness from all partners to discuss and find the most appropriate solutions, always bearing in mind that the social insurance fund should be preserved as the apple of our eye, because it supports both current and future generations,\u201d he affirmed.<\/p>\n The minister said discussions within the labour advisory body were intensifying and expressed optimism that differing views would not derail the timetable.<\/p>\n He added that the reform would also address investment policy for the fund and aim to ensure higher and more stable returns without increasing risk.<\/p>\n Central to the reform is the treatment of the so-called small cheques, an annual payment to pensioners below a specific income threshold.<\/p>\n