The Nationalist Party is promising to increase the minimum pension to the level of the minimum wage, should the party be elected to government.
During a press conference on Tuesday, PN deputy leader David Agius unveiled 12 proposals specifically addressing the wellbeing and quality of life of pensioners.
“As a party we have spoken to numerous social organisations and elderly about the issues they face, the injustices and how they cannot afford the increasing cost of living,” Agius said.
“We have pensioners close to our heart, and that is why we have provided the biggest package for pensioners to provide all the necessary help our elderly may need.”
What is the PN proposing?
- All pensions will be tax-exempt
- Widows will be entitled to a full pension, including in cases of divorce
- A new pension fund, set up in tandem with businesses, to ensure long-term sustainability of the pension system
- Cost of living bonus for pensioners
- Support for those who do not qualify for a pension: An established mechanism will be set up to ensure pensioners who do not qualify for a contributory pension have sustainable alternatives instead.
- Support for those elderly in need
- A change of mechanism for those born before 31 December 1961: While the 30-70 mechanism will continue to apply to pensioners born after January 1962, under a Nationalist government, pensioners born before that date will see an increase in their pension through a similar mechanism which involves inflation and the average wage instead of just COLA.According to Agius, this will lead to more than 80,000 elderlies seeing an increase in their pension.
- Minimum pension equal to minimum wage: The national minimum pension will be increased to the level of the national minimum wage. All those that have paid their contributions, instead of receiving €8,778 will receive €9,568 in a year.
- Justice for pensioners who worked additional years
- Justice for service pensioners
- Bonus for pensioners who continue to work past retirement
- Those who entered the workplace late due to doctorate or post-doctorate studies will receive a year of paid social security contributions