Multiple pensions debate in Cyprus

Multiple pensions debate in Cyprus

The ongoing debate over multiple pensions for former and current state officials has taken center stage in Cyprus, with the Cypriot government facing criticism from political parties and the country’s Audit Office.

Finance Minister Makis Keravnos convened a meeting with parliamentary parties to address the issue, but only representatives from two parties attended. The absence of the other parties was attributed to the lack of an opinion by the Legal Service.

At the heart of the issue are concerns about officials receiving pensions from multiple positions they have held, leading to distortions in the pension policy. Critics argue that pensions often exceed the remuneration of serving officials, creating an unsustainable situation.

The Audit Office has urged Parliament to take action, accusing the government of reluctance to address the problem. They highlighted constitutional concerns with government bills aimed at addressing multiple pensions.

Keravnos defended the government’s proposals, emphasizing their legal basis and the aim to eliminate the practice of multiple pensions. He said the proposals had undergone legal scrutiny and were guided by the attorney general.

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