Introduction:
Cyprus The recently proposed new public pension system reconsiders pensions and one-time retirement compensation. Passport immigration can pay attention to the latest local welfare benefits.
A 10-year gap is set to be filled in a new professional retirement benefits scheme for public, wider public sector and local government employees, with discussions on the scheme starting at the parliamentary finance committee on Monday.
Finance Minister Konstantinos Petridis noted when presenting the bill that he believed the bill safeguarded the rights of employees and that the way the scheme worked ensured the viability of public finances. As he mentioned, the proposed bill is the result of an agreement with the unions following several years of ongoing dialogue. ( european immigration )
Previous conversations and related agreements were translated into a bill to introduce a new pension system in the wider public sector, which ultimately did not satisfy everyone. The reactions and reservations that exist on this issue were revealed yesterday at the first review of the relevant bills to return supplementary pension schemes to the wider public sector by establishing a hybrid provident fund, and as we write again, The Minister responsible for Finance will provide a pension and a one-time gratuity. ( Cyprus property )
The new professional pension benefit scheme will be funded by 5% contributions from both parties (employees and employers) and will cover all employees, first appointed to a position on a permanent basis, on the date of entry into force of the law Employees on or after October 1, 2011, and permanent employees who will be appointed from now on.
In addition, it will include all employees employed indefinitely in the civil service and the wider public sector on the date the law comes into effect, special police officers who have been permanently employed, contract non-commissioned officers and forest academy graduates. ( Cyprus Immigration )
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