SEK to Pursue Wage Increases in Collective Agreements

SEK will pursue significant increases in the renewal of collective agreements, as decided today at the General Council meeting. The meeting also discussed the extension of collective agreements, the improvement of Welfare Funds, and the minimum wage.

SEK General Secretary Andreas Matsas stated that for 2026, increases will be sought taking into account the disproportionate increase in corporate profitability, the high cost of living, and the cost of housing. Emphasis will be placed on improving Welfare Funds and safety and health conditions at work.

SEK reiterated its positions on the reform of the tax and pension systems, aiming to ensure that no pensioner receives a pension below the poverty line. It also mentioned the need to improve the minimum wage and its indexation.

Mr. Matsas welcomed the European Court of Justice's decision on the European Minimum Wage Directive, which, he said, vindicates the European Commission's policy choice. He called on the government to take advantage of the decision and submit to Parliament the bill to incorporate the directive into Cypriot law.

Regarding the minimum wage, Mr. Matsas said that the timelines are limited and expressed hope that the process of reviewing and improving its level will soon be completed, linking it to the hourly rate.

Source: CNA