following an agreement between the Cyprus Building Contractors' Association and the PEO and SEK Unions, with the aim to provide supplementary pension benefits to its Members.
A. Retirement at age 63.
B. At age 60 provided the member has provenly left the industry on a permanent basis.
C.Termination of employment due to permanent disability for employment in the Construction Industry, which has been caused during his employment in the Industry, subject to a confirmation by the Social Security Service Department of the Ministry of Labour.
D.Death of the Member and subject to a confirmation by the registry of Population.
A.For studying purposes of the Member or his children
B. In cases of illness of the Member
or a member of his family, subject to sufficient confirmation
The establishment of the Provident Fund is a major achievement for the benefit of workers in the Construction Industry.
A milestone in its history is Law 52/1/2020 for Employees in the Construction Industry of June 2020, which, among other things, provides legal certainty for workers in the Construction Industry regarding the mandatory payment of contributions to the Provident Fund of the Employees of the Construction Industry and Related Sectors of Cyprus.
The objective of the Fund is for its Members to be supported in maintaining their standard of living after their retirement.
