Cyprus
Old-age pension
This consists of a basic pension plus a supplementary (earnings-related) pension. The basic pension is 60 per cent of the career average adjusted earnings up to the basic insurable earnings ceiling. Supplementary pension is 1.5 per cent of total career adjusted earnings between this ceiling and a maximum of six times the basic insurable earnings ceiling per year of contribution. Additions to basic pensions are provided for dependants. Insurable earnings and basic pensions are adjusted each January according to changes in wages; supplementary pensions are adjusted each January according to changes in prices. Pensions are also adjusted every July according to changes in prices. The old-age pension is payable from age 65, but for women born before 1.1.1935, is payable from age 63. Old-age pension can also be paid from age 63 if the insured person satisfies the contribution conditions and, in addition, for the period taken into account for testing these conditions he has contributions for 70 per cent of this period. Payment of pension may be deferred until age 68, in which case the amount of the pension is increased by 0.5 per cent for each month of deferment.
Disability and survivors pension
This consists of the basic pension plus an attributed supplementary pension.
Widows receive the basic pension plus 60 per cent of the supplementary pension. Orphans receive a fixed amount plus a portion of the supplementary pension.
A funeral grant is payable in the event of the death of an insured person or pensioner (or a dependant). All pensions are paid for 12 months each year.
Maternity and sickness benefits
Maternity and sickness benefits in cash and a maternity grant are payable provided the insured person has 26 weeks of paid contributions and 20 weeks of contributions paid or credited in the last year. Sickness benefits in cash are paid for up to 52 weeks after a three-day waiting period. Maternity benefits in cash are payable for 16 weeks. Sickness benefits consist of (a) 60 per cent of the basic pension credited earnings in the last year, plus (b) 50 per cent of the average earnings credited toward supplementary pension in the last year. For maternity benefits in cash both percentages under (a) and (b) are 75 per cent. Additional benefits are paid in respect of dependants, and the total benefit payable is subject to a maximum.
Employment injury
Employment injury / temporary incapacity benefit is payable for a maximum of 12 months with a three-day waiting period. It is the same amount as the cash sickness benefit with a guaranteed minimum basic benefit.
Permanent incapacity and survivors' pensions are also payable and medical care is provided. A lump-sum marriage grant is payable to female insured persons.
Unemployment
Unemployment benefits may be payable to insured persons who meet the same qualification provisions as for cash sickness benefits. The benefit amount is the same as for the cash sickness benefit, but its duration is limited to a maximum period of 26 weeks. Six per cent of total contributions to the schemes in respect of employed persons is diverted to an Unemployment Benefit Account to finance this benefit.