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Cyprus

Employee Benefits Report

Product Employee Benefits Reports Rev Cyprus

Key Highlights

Get access to Axco’s online product for a comprehensive understanding of employee benefits in Cyprus

  • Details of the state and compulsory benefits
  • Insight into typical market practice
  • Examines changes to the costs and benefits of social security and mandatory benefits requirements
  • Demographic and economic information including projections
  • Mandatory pension provision, normal and parental leave and other state benefits
  • Details of applicable taxation
  • Extensive geopolitical and operational risk analysis

Report Overview

Comprehensive employee benefits information for Cyprus. Details mandatory benefits and plans as well as typical market practice. Includes data on pensions and retirement benefits, employee leave and termination indemnities.

Axco's employee benefits report for Cyprus provides expert analysis of the Cypriot benefits landscape, detailing state and compulsory benefits and local market practice across necessary to know when employing staff in Cyprus or thinking of entering the market.

The comprehensive report is produced by a dedicated research team with years of experience in international employee benefits. The report outlines all key benefits in Cyprus, including insight into changes to the costs and benefits of social security and mandatory benefits requirements, as well as typical employer practice. Information and necessary details on new legislative mandates are regularly updated to ensure you remain compliant.

Suitable for international employee benefits consultants, brokers or corporates looking at establishing business in Cyprus, the report outlines the employment benefits requirements for your employees in Cyprus. Coverage extends to retirement benefits, death in service benefits, long-term disability, medical benefits, workers compensation, personal accident insurance, termination indemnities, maternity benefits & maternity/paternity benefits and other employee and state benefits.

Axco analysts also report on the economy of Cyprus, the local political situation, and climate, operational, and security risks.

Cyprus Report Extract

Below is a very brief extract of information from the Cyprus Employee Benefits Report; more updated information may be available in the latest published report.

Retirement

Benefit Provider

State & Compulsory Benefits

Retirement benefits are provided through the Social Insurance Fund (SIF), administered by the Department of Social Insurance Services of the Ministry of Labour, Welfare and Social Insurance.

Typical Employer Practice

It is common for large and medium sized employers to provide supplementary retirement benefits; benefits are typically provided …

The report contains more information on retirement benefits in Cyprus including Benefit Provider; Type of Plan; Eligibility; Retirement Age; Pensionable Salary; Vesting and more



Termination Indemnities

Benefit provider

State & Compulsory Benefits

Termination indemnities are provided through the Redundancy Fund. Employer contributions to the Redundancy Fund equal …

Typical Employer Practice

Employers do not typically provide supplementary termination indemnities.

More information on Eligibility; When Benefit is Paid; Benefit details and the associated Taxation applicable to termination indemnities is available in the report.

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£450

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