OEB expresses concern over unrealistic pension increase statements

The Federation of Employers and Industrialists (OEB) has expressed strong concern regarding public statements suggesting pension increases that are not aligned with economic realities.

The OEB emphasizes that any significant pension increase requires either higher contributions, a higher retirement age, or both. Approaches based on unrealistic data create false expectations.

The OEB will not support proposals that jeopardize the current and future economic stability of Cyprus. Decisions on the pension system should be responsible, serious, and long-term, with pension increases proportional to contributions, in accordance with accepted principles and economic growth.

The OEB collaborates with the Ministry of Labor and international experts to ensure sustainable and fair pension policies. It urges that the management of this vital issue be entrusted to tripartite institutions and social partners responsible for system financing and sustainability for current and future generations.

If the state aims to improve social policy further, it should do so through the Social Insurance Fund or the second pillar of the pension system, not through unrealistic measures.