Pension in Cyprus 2026: how it is calculated
The Cyprus Social Insurance old-age pension has two parts: the basic pension, worked out on earnings up to the basic insurable earnings, and the supplementary pension, for earnings above them. It is paid 13 times a year. The calculator above applies the 2026 rules to your own working life. Below you will find an example and what changes with the age you retire.
When you can retire
- At 65, with at least 15 years of insurance: full pension.
- From 63: reduced by 0.5% for each month before 65, i.e. up to 12%.
- After 65: the pension grows with the extra years of insurance.
Example: pension by retirement age
| Age | Years insured | Gross / month | Net / month |
|---|---|---|---|
| 63 (−12%) | 41 | €1,231 | €1,199 |
| 64 (−6%) | 42 | €1,356 | €1,320 |
| 65 | 43 | €1,487 | €1,448 |
| 66 | 44 | €1,532 | €1,491 |
| 67 | 45 | €1,577 | €1,535 |
For an employee aged 35 today, with 13 years of insurance and an average gross salary of €1,900 a month so far, who works 32 more years with pay rising 1% above inflation. Amounts are in today’s euros, paid 13 times a year. Enter your own details in the calculator.
What the pension at 65 is made of
In the example, the gross pension of €1,487 is €477 basic and €1,010 supplementary (1.5% of the insured earnings above the basic insurable earnings, for every year of insurance). The net pension is €1,448 a month, about 58% of the last net salary. The basic pension is 60% of the average insurance points and is higher when there are dependants.
Provident funds
Many employers in Cyprus run a provident fund, usually with 5–10% of pay from each side. The employee’s contributions are deductible from taxable income within the one-fifth limit, and the lump sum at retirement is tax-free. You can work it out on the “Cyprus provident fund” page.
Frequently asked questions
How many years of insurance do I need for a pension in Cyprus?
At least 15 years of insurance for the old-age pension at 65. More years increase the supplementary pension.
Can I retire before 65?
Yes, from 63, but the pension is reduced by 0.5% for each month earlier, i.e. 12% at 63. In the example the net pension falls from €1,448 to €1,199 a month.
How many times a year is the pension paid?
13 times: 12 monthly payments and one extra, like the 13th salary.
Is the amount exact?
It is an estimate. The official amount is worked out by the Social Insurance Services from the insurance points of each year in your personal record.
Sources: Social Insurance Law, Social Insurance Services of Cyprus. Last checked against the official sources: October 2026. The amounts are estimates for information, not advice.