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Title_of_text

Law N° 183(I) of 2015 amending the Law on the Retirement Benefits of Employees in the Broader Public Sector, including the Local Authorities - Provisions of General Implementation, (Amendment N° 2).

Main Region

First Region

Cyprus
Old-age, invalidity and survivors benefit; Public and civil servants
2015-12-09
National
Law, Act

Second Region

The present Law amends the Laws N° 216(I) of 2012 and 52(I) of 2015 on the Retirement Benefits of Employees in the Broader Public Sector, including the Local Authorities (Provisions of General Implementation).

Article 2 of the present Law amends article 2, by adding the following new terms and definitions: "judge" and "fix monthly amount".

Article 3 amends article 7, by adding new reservations in subparagraph (i) of paragraph (b) of 1st phrase, concerning the calculation of the monthly gross pension emoluments; in subparagraph (ii) of paragraph (b) of 1st phrase, concerning the binding nature of the pertinent option and in 4th phrase, concerning the calculation of benefits rising from the termination of service for police members.

Article 4 amends 2nd phrase of article 9, by replacing paragraph (a) with new one, concerning the age of the obligatory termination of service of police members and by replacing the age limit, in paragraph (b), from 60 to 58 years old, and in the 2nd reservation of paragraph (b), from 59 to 58 years old.

Article 5 replaces article 10 with new one, concerning the voluntary early termination of service.
Article 6 amends article 11, by amending the 1st phrase with regard to the reference to the pertinent Indexes of the Law, according to the age limit of the obligatory termination of service; by supplementing the 4th phrase, to include the employee who voluntarily relinquishes early or retires from the service, and by deleting phrases 2 and 3.

Article 7 supplements the Law by adding new article 13A, regarding judges¿ challenge.

Article 8 repeals Indexes 1 to 12 and introduces new Indexes 1, 2 and 3, concerning, respectively, the coefficients of conversion of one-off amounts to fix yearly amounts, the voluntary early termination of service and the coefficients of actuarial reduction in the retirement benefits of members whose termination of service takes place before the given age limit of the obligatory termination of service.

Article 9 sets the date into force of the present Law.

Entry dates region

    Date of entry into force
    2013-01-01
    --

Partial entry dates region

    Date of partial entry into force
    2015-12-09
    Article 6, paragraph (a) and article 8
    Date of partial entry into force
    2015-04-17
    Article 4, paragraph (a)

Electronic region

Serial region

    Serial title
    Epissimi Efimeris
    Date
    2015-12-09
    Volume
    Part I(I)
    Number
    N° 4543
    Page range
    pp. 1352-1357