{"id":339321,"date":"2026-02-15T23:00:15","date_gmt":"2026-02-15T23:00:15","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/339321\/"},"modified":"2026-02-15T23:00:15","modified_gmt":"2026-02-15T23:00:15","slug":"pension-reform-to-bring-noticeable-increases-says-labour-minister","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/339321\/","title":{"rendered":"Pension reform to bring noticeable increases, says labour minister"},"content":{"rendered":"

Pension increases resulting from the planned reform of the social insurance system are expected to be noticeable, particularly for low-income pensioners<\/a>, Labour and Social Insurance Minister Marinos Mousiouttas said on Sunday.<\/p>\n

In an interview with Phileleftheros, Mousiouttas said the first phase of the reform, concerning the social insurance fund, could be implemented from January 1, 2027.<\/p>\n

This, he said, would allow pensions to rise \u201cto the extent that will be indicated by the final studies\u201d, while also addressing existing distortions in the system<\/a>.<\/p>\n

These studies, he said, further pave the way for decisions on the fund\u2019s governance model, its investment policy and the gradual repayment of the state\u2019s debt to the fund.<\/p>\n

Asked whether pension increases would be substantial, the minister replied that it is certain the rise will be felt by citizens<\/strong>.<\/p>\n

Referring to the second pillar of the pension system, which concerns provident funds, Mousiouttas said it cannot move forward immediately.<\/p>\n

Implementation will require at least two to four years, as the supervisory authority must first be upgraded and made independent, in line with requirements set by the relevant European authority.<\/p>\n

On borrowing from the social insurance fund and its future investment policy, the minister said these issues will be determined in consultation with the finance minister<\/strong>, with whom he is due to meet in the coming days.<\/p>\n

\u201cWith the implementation of the new investment policy, it will become clear how the funds will be invested,\u201d he said.<\/p>\n

Investments may continue to include placements in government bonds, as is currently the case, which are considered among the safest options, carrying lower risk, albeit potentially lower returns.<\/p>\n

Regarding the 12 per cent reduction applied to pensions for those who retire before the age of 65, Mousiouttas said it will not remain as it is<\/strong>.<\/p>\n

\u201cThere will be a downward adjustment,\u201d he said, although he noted it cannot be abolished entirely, describing it as a key element of the broader discussion.<\/p>\n

Asked whether the pension reform would place an additional burden on state finances, the minister said the aim is to avoid any strain or to keep it to a minimum.<\/p>\n

On the hourly rate of the national minimum wage<\/a>, Mousiouttas added that the study currently being prepared must take into account this long-standing demand by trade unions.<\/p>\n","protected":false},"excerpt":{"rendered":"Pension increases resulting from the planned reform of the social insurance system are expected to be noticeable, particularly…\n","protected":false},"author":2,"featured_media":339322,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[177],"tags":[79,152040,18,2598,19,17,161000,92084,234,235],"class_list":["post-339321","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-cyprus-news","tag-eire","tag-home","tag-ie","tag-ireland","tag-low-income-pensioners","tag-pension-reform","tag-personal-finance","tag-personalfinance"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/116077135379295679","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/339321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=339321"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/339321\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/339322"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=339321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=339321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=339321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}