By 3.89% increase since January 2024 a key part of Social Insurance Fund pensions following a decision of the Council of Ministers to issue a decree, according to the Ministry of Labor and Social Insurance.
As stated in an announcement by the Ministry, “specifically, the monthly amount of the full basic pension increases from €465.65 to €483.77 and the minimum pension increases from €395.80 to €411, 20 for beneficiaries without dependents, while the monthly amount of the social pension increases from €377.18 to €391.85”. It is noted that the percentage of the increase is calculated according to the increase in the average insurable earnings between the two previous years, as determined through an actuarial study. Source: KYPE
Source: 24h.com.cy
