Pension SchemesA lawyer practicing the legal profession in Cyprus in accordance with the provisions of the Advocates Law, Cap. 2 is entitled to pension under the provisions of Regulation 17(1) of the Advocates (Pensions and Allowances) Regulations of 1966-2017 as follows:

 

 

(a) Upon completing 25 (twenty-five) years of practicing the legal profession and attaining, at the same time, the age of 70.

* A lawyer who completes 25 (twenty-five) years of practicing the legal profession but has not attained the age of 70, is entitled to reduced pension as follows:

69 years of age – reduction of 6%
68 years of age – reduction of 12%
67 years of age – reduction of 18%
66 years of age – reduction of 24%
65 years of age – reduction of 30%
 
(b) Upon completing 35 (thirty-five) years of practicing the legal profession and attaining, at the same time, the age of 65.

A lawyer who completes 35 (thirty-five) years of practicing the legal profession but has not attained the age of 65, is entitled to reduced pension as follows:
64 years of age – reduction of 6%
63 years of age – reduction of 12%
62 years of age – reduction of 18%
61 years of age – reduction of 24%
60 years of age – reduction of 30%
 
(c) Upon completing 40 (forty) years of practicing the legal profession irrespective of his/her age.

In addition, under the provisions of Regulation 17A of the Advocates (Pensions and Allowances) Regulations of 1966-2014, a lawyer entitled to pension who does not fall under any of the exceptions of para. (5) of Regulation 17A is also entitled to receive a lump sum upon leaving the profession.
 
*Example of calculating the pension and the lump sum:

A lawyer who has completed exactly 35 years of practicing the legal profession and has, at the same time, attained the age of 65 is entitled to a monthly pension of €1090,83.
The monthly pension is calculated as follows:
 

 

 
 
 
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