Welfare in Cyprus
Cyprus is a high income country with a well established and extensive welfare system. The Social Insurance Scheme ensures access to healthcare, income support, and pensions, with mandatory contributions for all employees and employers. Income support is means tested on the basis of total family income and assets, which often places the burden of care on the family unit before the state provides assistance. There is also an obligation to seek work. The pension system is fairly comprehensive, yet may still leave some in the private sector unsupported.
Minimum income law
In 2014, the Cyprus Guaranteed Minimum Income and Social Benefits Law was passed to replace the previous Public Assistance and Service Law. It covers all
All EU citizens and Cypriots are applicable to the program if they have lived in
Benefits of Cyprus’s MI Law are given based on means testing. Potential recipients need to apply and demonstrate that they have certifiable needs, and that they’re really out of means except government support. To truly distribute benefits to those that need them the most, the Cyprus’s MI Law sets an age limit (above 28 years old) to eliminate young people who’re not earning much but are enjoying high standard of living with their parents from the list beneficiaries.[1] It also has an activation strategy aimed to encourage the unemployed to actively seek jobs. Recipients would be required to accept available jobs in their relative fields, and those who’re unemployed voluntarily would be excluded from the program.
Pension system
The Cyprus
Legal residents in Cyprus are entitled for pension programs as long as they have lived 20 years in Cyprus after the age of 40 and 35 years after the age of 18.[8] Besides, the Agreement on Social Security signed between Canada and Cyprus in 1991 permits that those who have worked in Canada and have contributed to the Canada Pension Plan for a certain period of time might be qualified to enjoy the benefits of Cyprus pension system after verification.[9] Even though the Cyprus pension programs have covered its population comparatively comprehensive, the replacement rate is still pretty low.[6]
References
- ^ a b Christou, Jean. "President announces 'Guaranteed Minimum Income' for all citizens - Cyprus Mail". Cyprus Mail.
- ^ "Cyprus: Guaranteed minimum income | Eurofound". www.eurofound.europa.eu.
- ^ Koutsampelas, Christos. "The Cypriot GMI scheme and comparisons with other European countries" (PDF). Cyprus Economic Policy Review. 10: 3–26.
- ^ "Guaranteed minimum income programs". POLICY ATLAS.
- ^ "Cyprus: Pension System and Pension Projections" (PDF). European Commission.
- ^ a b c Mannaris, Philippos. "The Cypriot Pension System: Adequacy and Sustainability" (PDF). Cyprus Economic Policy Review. 6: 49–58.
- JSTOR j.ctt9qgkhn.14.
- ^ "The Cyprus Social Insurance Scheme" (PDF). European Union.
- ^ "Cyprus - Pensions and benefits". Government of Canada.