Cyprus

Basic country data

  • Population 60 and over (2018)
  • 224,740
  • % of total
  • 18.9%
  • Population 60 and over (2050)
  • 452,199
  • % of total
  • 38.0%
  • Does the country have a social pension?
  • Yes
  • Region
  • Europe & Central Asia
  • Income group
  • High income

Data on social pensions

Social Pension

Basic scheme information

Data on social pensions

  • Name of pension or programme
  • Social Pension
  • Year first social pension introduced
  • 1995
  • Administrative Organisation
  • Ministry of Labour, Welfare and Social Insurance Services
  • Legislative Underpinning
  • Act No. 25(I) of 17 March 1995 on the Social retirement benefit Act and other relevant matters amended 1996

Eligibility criteria

2014

Government of Cyprus: Social Insurance Protection (Webpage)

Adequacy

  • Monthly benefit (local currency)
  • 336.28 Euros
  • US$
  • 363
  • % of GDP per capita
  • 20.5%
  • $ PPP
  • 528.7
  • % of $1.90 poverty line (PPP)
  • 915%
  • Local amount detailed/other benefits
  • 81 per cent of the full basic pension payable under social insurance is paid.
  • References and notes

2009

Responses on social protection for older people to UN HRC

Coverage

2014

HelpAge calcualtion

Cost

  • Total cost (local currency)
  • 60,264,066.24 Euros
  • Cost as % of GDP
  • 0.3%
  • References and notes

Resources on the pension in Cyprus

Social pensions database

Explore the Social pensions database

Calculator

Calculate the cost of a universal pension in your country