Almost 45,000 pensioners will be receiving an annual payment of up to €350 from this coming Saturday, in the form of improvements to two existing social measures.
The €15 million investment is part of the social measures for the elderly announced in Malta’s 2021 Budget.
Family Minister Michael Falzon, along with his ministry's permanent secretary Mark Musu, announced the payments on Wednesday.
The Senior Citizens Grant will be given to persons who are still living in the community and are aged 75 years and over. Those aged between 75 and 79 will receive €300, while those aged over 80 years will receive €350.
This grant will also be given to people living in a private home for the elderly and are paying for the service directly.
Around 33,732 senior citizens will benefit from this grant and the expenditure will reach €11 million, the minister said.
A second, separate payment will be given to those who have reached retirement age but do not qualify for a pension. This payment will be granted as an increase to the bonus such people already receive.
Bonuses will rise to €250 for those who paid between one and four years of social security contributions and to €350 for those with five years or more of contributions. That represents a €50 increase.
An estimated 14,907 people will benefit, with expenditure reaching €4.3 million.
Authorities calculate that 3,302 people qualify for both the newly-announced payments and will receive both.
Pro-rata payments
People who will only qualify for either of these payments this year will receive the payment they are eligible for on a pro-rata basis this year and will then start receiving the full benefit as from next year.
“These two social measures are a clear indication, that our government is committed in improving the financial situation of pensioners and the elderly,” said Falzon.
He said that the two additional social measures complement the government’s mission to continue to help the elderly financially.
“All this along with sixth consecutive increase in overall pensions, no taxation on social security pensions, decreases in energy bills, the eradication of medicines out of stock, and no additional taxes," the minister said.