elenCYPRUS EMPLOYERS AND INDUSTRIALISTS FEDERATION
elenCYPRUS EMPLOYERS AND INDUSTRIALISTS FEDERATION

Automatic Indexation (ATA) – Final Data for 2024

The Federation of Employers and Industrialists (OEB) informs the companies that adjust the salaries of employees based on the change in the Automatic Indexation (ATA) of the following:

 

  1. The fluctuation of the Consumer Price Index (excluding excise taxes) for the year 2024 recorded an increase of 1.87%.

  1. According to the Transitional Agreement signed between the Social Partners on 28 July 2017 and the renewal of the one signed on 12 May 2023, salaries are adjusted with 66.7% of the annual increase of the Index, provided that during the second and third quarters of the previous year there is a positive growth rate.

  1. Consequently, the ATA from 01/01/2025 is increased:

(a) by 1.25% of the total salaries in force on 31/12/24

 

or

b) from 11.17% to 12.56% of basic salaries

 

 

— The relevant circular of the Ministry of Finance is attached.

 

a) Example (ATA on the total salaries in force on 31/12/2024):

 

2022 2023 2024 2025
Total Salary €1.500,00 €1.538,40 €1.627,78 €1.667,50
Indexation allowance 2,56% 5,81% 2,44% 1,25%
Amount of allowance €38,40 €89,38 €39,72 €20,84
Total €1.538,40 €1.627,78 €1.667,50 €1688,34
Change/percentage adjustment of

salary{(€1.688,34 – €1.667,50) / €1.667,50}*100

1,25%

 

 

b) Example (ATA on basic salaries):

 

2023 2024 2025
Basic Salary €1.500,00 €1.500,00 €1.500,00
Indexation allowance 8,52% 11,17% 12,56%
Amount of allowance €127,80 €167,55 €188,40
Total €1.627,80 €1.667,55 €1.688,40
Change/percentage adjustment of

salary{(€1.688,40 – €1.667,55) / €1.667,55}*100

1,25%

 

The above examples do not take into account any general increases and/or surcharges granted during the period 2018-2024

Circular No. Economic

For clarifications, you can contact the Department of Labour Relations and Social Policy of OEB, at tel. 22-643000.


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