Regulatory Alerts2023-05-26
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Decree 168/2023 on the Regulation of Certain Issues Arising from the Application of Regulation (EU) 2019/1238
The Minister of Finance issued Decree 168/2023 to harmonize Cypriot law with EU Regulation 2019/1238 regarding Pan-European Pension Products (PEPP). The decree establishes specific rules for the accumulation and decumulation phases of national PEPP sub-accounts, including age limits, tax treatments, and payment options. It defines eligibility criteria, retirement ages, and the forms of benefit payments available to savers under Cypriot jurisdiction.
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