The Minister for Finance discusses budget measures with pensioners

Minister for Finance Edward Scicluna met with the members of the Pensioners’ Association of the General Workers’ Union, where he explained the 20 measures introduced by the Government in aid of pensions in Malta, pensioners and the elderly.

Discussions on budget measures with pensioners

Minister Scicluna explained in detail such measures, including the increases in the Supplementary Assistance, the Carers’ Allowance and the Carers’ Pension, and bonuses for persons who had not paid the full number of social security contributions, as well as tax incentives for pensioners and Government subsidies on rent. He added that the Government will be issuing Savings Bonds for pensioners at higher interest rates than the current market rates. Minister Scicluna clarified that the legislative ground work has been carried out and that the bonds are expected to be issued in summer.

Minister Scicluna also addressed a number of concerns raised by those present, mainly in relation to the pensioners’ incomes and savings. He reminded that the present government has taken the initiative to introduce ex gratia payments to those who suffered injustices in the past, and explained that the Government is working towards guaranteeing a sustainable pension system in the long run.

Source: Ministry for Finance / Photos: MFIN