The standard working hours in Cyprus are 8 hours per day and 40 hours per week. However, the working hours may vary depending on the industry, job position, and collective bargaining agreements. Employees who work more than 8 hours per day are entitled to overtime pay.
Employment Rights and Benefits in Cyprus
Minimum Wage
The minimum wage in Cyprus is €900 per month, which applies to all employees regardless of their age or occupation. The minimum wage is subject to revision by the government from time to time.
Annual Leave
Employees in Cyprus are entitled to 20 days of paid annual leave per year. Employees who have worked for the same employer for more than 5 years are entitled to an additional 1 day of paid leave per year, up to a maximum of 25 days per year.
Sick Leave
Employees in Cyprus are entitled to 30 days of paid sick leave per year. However, if an employee is sick for more than 3 consecutive days, they are required to provide a medical certificate.
Maternity Leave
Female employees in Cyprus are entitled to 18 weeks of maternity leave, which can be taken before or after the birth of their child. During the maternity leave, female employees are entitled to receive 75% of their normal salary.
Paternity Leave
Male employees in Cyprus are entitled to 2 weeks of paternity leave, which can be taken within 16 weeks of the birth of their child. During the paternity leave, male employees are entitled to receive 75% of their normal salary.
Severance Pay
Employees in Cyprus are entitled to receive severance pay if their employment is terminated by the employer without just cause. The amount of severance pay is calculated based on the length of service, the employee’s salary, and other factors.
Pensions in Cyprus
In Cyprus, employees are required to contribute to the Social Insurance Fund, which provides various benefits, including retirement pensions. The retirement age in Cyprus is currently set at 63 for men and 62 for women, but it is subject to revision by the government.
Types of Pensions for Expats
Expats who have worked and paid into the Social Insurance Fund in Cyprus may be eligible to receive a retirement pension when they reach the retirement age. The amount of the pension is calculated based on the employee’s salary and the number of years they have contributed to the Social Insurance Fund.
Expats who have not contributed to the Social Insurance Fund may still be eligible for a pension from their home country, depending on the laws and regulations of their home country.
Retirement Age in Cyprus
The retirement age in Cyprus is currently set at 63 for men and 62 for women. However, the government has proposed to increase the retirement age to 65 for both men and women in the future to address the increasing life expectancy and the sustainability of the pension system.
Overall, employees in Cyprus are entitled to various employment rights and benefits, including minimum wage, annual leave, sick leave, maternity leave, and paternity leave. The Social Insurance Fund provides retirement pensions for employees who have contributed to the fund, and expats may also be eligible for a pension from their home country. The retirement age in Cyprus is currently set at 63 for men and 62 for women, but it may be subject to revision by the government in the future.