|Name:||Law N° 168(I) of 2012 concerning the reduction in emoluments and pensions of Officials, Employees and Pensioners of the Public Service and of the broader Public Sector.|
|Subject(s):||Old-age, invalidity and survivors benefit; Public and civil servants|
|Type of legislation:||Law, Act|
|Entry into force:|
|Published on:||Epissimi Efimeris , 2012-12-06, Part I(I), N° 4369, pp. 1813-1816
|Bibliography:||Epissimi Efimeris , 2012-12-06, Part I(I), N° 4369, pp. 1813-1816
Text in Greek Tipografio Kipriakis Dimokratias, Nicosia, Cyprus, pp. 1813-1816 PDF of Official Gazette in Greek (consulted on 2015-10-06)
|Abstract/Citation:||Article 2 of the present Law provides for the definition of the following terms: "Official", "Emoluments", "Republic", "Public Service", "Broader Public Sector", "Employee", "State Service", "Pension", "Pensioner", "Servant" and "Worker employed on an hourly-basis".
Article 3 introduces and frames the reduction in emoluments of Officials and Employees and in pensions of Pensioners.
Article 4 determines the calculation of pension benefits.
Article 5 regulates the calculation of compensation and other fringe benefits assessed on the basis of the pay scale or the permanent salaries.
Article 6 decides upon the amount resulting from the reduction in emoluments and pensions effected within the Public Service and the broader Public Sector.
Article 7 exempts the reduced amount of emoluments and pensions from the taxable income.
Article 8 regulates the resolution of issues stemming from the implementation of the present Law.
Article 9, concerning the Law¿s entry into force, specifies that paras (a) and (b) of article 3 are applicable upon the emoluments of December 2012 onwards, including the 13th wage of 2012, whereas para (c) of article 3 is applicable upon the emoluments of January 2014 onwards.