Summary (English)

In accordance with section 76(2) of the Social Insurance Law of Cyprus, this report presents the results of the actuarial valuation of the General Social Insurance Scheme (GSIS) as at 31 December 2014. It describes the current and projected financial status of the GSIS until 2080 and makes recommendations on its financial governance.

The results presented in this report confirm that the legislative amendments introduced by the 2009 and 2012 social insurance reforms respectively are sufficient to financially sustain the GSIS over the long term.