The Labour Party said that Malta was bucking the trend in Europe as it was discussing how to improve pensions, while the rest of the continent was seeking how to restrain them.

In a statement which praised the upcoming pensions reform, the party said that the economic growth the country was experiencing - which it credited to the Labour government's decisions - made it possible to help the most vulnerable members of society, including pensions.

The previous reforms had introduced a national minimum pension for those born after 1962, but Labour noted that the strategy proposed by the Pensions Strategy Group gradually extends the right to everyone.

The party also stressed that the reform included efforts specifically aimed at improving the situation of women, welcomed the credits given to those who studied and the incentives provided to those who chose to continue working after their retirement age.

Labour also emphasised that no increase in social security contribution was envisioned, criticising the Nationalist Party for suggesting the introduction of a second-pillar contributory pension and noting that instead, the proposed reform creates clear fiscal incentives.

The government, Labour said, was truly committed to ensure that economic growth benefits those who need it the most, including pensioners.