Social Justice Minister Michael Falzon said on Thursday some 25,000 people - and not 11,000 as previously thought -  will benefit from the government's revision of the pension system.

Falzon told a press conference a number of pensioners born before 1962 were receiving higher pensions - an increase of up to €9.45 a week - after the government increased the maximum pensionable income for their age bracket.

Before the govenment's intervention, those born before 1962 had their pensions capped at €20,424, meaning the maximum yearly pension they could have earned was € 13,616.  

That pension cap has now increased and the maximum pensionable income cap will keep increasing until it reaches the same level as that of those born after January 1, 1962, which currently stands at around €27,00.

The pension revision is a PL electoral promise and measures were announced by the government last year.

Asked why the government was holding a press conference about the pension revision now, Falzon said the government was expecting far fewer pensioners to benefit from the scheme.

It only recently 'realised' that 25,000 people would be benefiting.

Falzon added: “If you’re suggesting this is because of the upcoming elections, should we not announce anything for the two months leading to an election?”

Malta will be choosing its representatives at the European Parliament and its local councils on June 8.

Prime Minister Robert Abela has rejected claims that his government is using its power of incumbency to win votes for the upcoming elections, saying the government has been implementing measures at a fast pace throughout the legislature.

Independent journalism costs money. Support Times of Malta for the price of a coffee.

Support Us