low pensions

State pension fund reaching critical levels

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State pension fund reaching critical levels

The Fiscal Council has warned that state borrowing from the Social Insurance Fund has reached critical levels, with the government owing over €10 billion to the fund. This borrowing threatens public finances and could lead to pressure on the state budget. The Council suggests reducing the state’s debt to the fund and revising the investment policy to achieve higher returns. The study also recommends increasing the percentage of assets invested in non-government securities to diversify the portfolio.

People over 60 in Cyprus feel insecure, lonely and afraid, survey finds

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People over 60 in Cyprus feel insecure, lonely and afraid, survey finds

Around 42% of people over 60 years old feel lonely, with 30% citing low pensions as a major issue. Women and the elderly, especially those over 80, experience more fear and insecurity. The study showed that individuals aged 60-69 spend a lot of time with their grandchildren. The research also revealed that most elderly people watch television and go to church. Additionally, 61% of retirees in Cyprus live in their own homes, and 46% believe their income is enough to meet their needs. The study also highlighted the need for more activity centers, state support, and increased pensions for retirees.