Finance minister extolls merits of government measures in aid of pensioners

Finance minister 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 pensioners and the elderly.

Scicluna explained in detail 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.

Scicluna added that the government will be issuing savings bonds for pensioners at higher interest rates than the current market rates. “The legislative ground work has been carried out and the bonds are expected to be issued in summer,” he said.

Addressing a number of concerns, mainly in relation to the pensioners’ incomes and savings, Scicluna said that the present government had introduced ex gratia payments to those who suffered injustices in the past.

He added that the government was working towards guaranteeing a pension system that is sustainable in the long run.