|The first Social Insurance Scheme, implemented on 07/01/1957, has gone through different reform stages in which the social protection provided by it has improved significantly, covering all workers against insurance risks (unemployment, disease, maternity, disablement, old age, death).|
The culmination of the development of the Social Insurance Institution in Cyprus is recorded in 1980 with the introduction of the Proportional Insurance Scheme under which both contributions and benefits were linked to the income earned from work. The 1980 Proportion Scheme was rightfully characterised as the most important social policy measure ever implemented in Cyprus.
The Postal Services Department, on the occasion of the completion of 50 years of Social Insurance on our island, issues a commemorative series consisting of two stamps (se-tenant).
Text: Ministry of Labour and Social Insurance, Republic of Cyprus
Source: Department of Postal Services, Republic of Cyprus.