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ATA, pensions and minimum for the Minister. Work

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The three priorities of the issues that will be dealt with once Mr. Giannis Panagiotou takes over the reins

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<p> The minimum monthly wage paid to anyone employed in the country was set from 1 January 2023 at 940 euros (gross) for full time employment. </p>
<p>One of the Ministries that already has a full agenda is that of the Ministry of Labour. The new Minister of Labor, Mr. Yiannis Panagiotou, will have to solve major issues that have remained open since the previous composition of the Government. After the late Mrs. Zeta Emilianidou some fundamental issues were closed under the umbrella of Mr. Kyriakos Kousios, such as the minimum wage, however Mr. Panagiotou will have many challenges to face from day one. Mr. Panagiotou seems prepared for the heavy agenda of the Ministry of Labor, while at the same time, from the very first day, he demonstrated his three priorities. At the confirmation ceremony of the new President of the Republic in the House of Representatives, Mr. Panagiotou was asked about his priorities and he answered that they are ATA, pensions and the bottom line. On the sidelines of the special meeting of the Plenary for the installation ceremony defined by Article 42 of the Constitution, Mr. Panagiotou said that ATA is one of the issues that will concern him upon assuming his duties. Besides, in his program, Mr. Christodoulidis had placed high on the agenda the review of the ATA institution. “We are reviewing the institution of ATA, with the aim of fairer distribution for the benefit of all low-wage workers. Such an initiative is a basic measure of social justice without burdening employers”, he noted in the program.</p>
<p>Mr. Panagiotou, in his brief statement upon his arrival at the Parliament as part of the assurance of the new President of the Republic, set as a priority once he takes action, the increase of the pensions of the low-pensioners. According to the positions of Mr. Christodoulides' program, moreover, he had created a “special pillar” of policy. “We aim to safeguard the Social Insurance Fund (SIF) and achieve a dignified living for pensioners. We are moving forward with the modernization of the Pension System framework, which will include the provision of financial and other incentives for the development of private funds (e.g. welfare, insurance, etc.), following the best practices and trends from the rest Europe. We seek the establishment of a strong Supervisory Mechanism to ensure best practices in the management of Provident Funds. We are promoting the creation of an actuarial service at the Ministry of Labor and Social Insurance, with the aim of supervising and developing both the Social Insurance Fund and the private pension sector, aiming to upgrade the lives of Cypriot pensioners”, he noted characteristically.</p>
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In addition to the ATA and the pension, Mr. Panagiotou spoke in the context of the assurance to the Parliament, for consideration of the issue of the minimum wage. In the programmatic positions of PtD N. Christodoulidis there is nothing clear in relation to the bottom. It will be interesting to see how Mr. Panagiotou will handle the issue of the minimum wage and what adjustments-improvements he is thinking of making. It is recalled that, based on the Decree, the minimum monthly salary paid to anyone employed in the country was set as of January 1, 2023 at 940 euros (gross) for full-time employment. This amount will be paid by the employer to the employee, only after six months of continuous employment in the same company. For the first six months, the minimum monthly salary is set at 885 euros for full-time employment.

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Source: www.kathimerini.com.cy

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