Adjustments are currently underway to improve the income of individuals receiving the retirement pension who were born before 1962, as well as those who receive the widows' and service pensions, the Ministry for Social Policy and Children's Rights said.
In total, around 36,000 pensioners will benefit from these three measures combined, with payments to be distributed over the coming weeks. This was announced by Minister Michael Falzon during a press conference that dealt with the implementaion of more than 40 social measures planned for 2025.
Minister Michael Falzon spoke about the ongoing revision of the retirement pension, which is being carried out over several years to reduce the income disparity in maximum pensionable income between individuals born before 1962 and those born after.
The pension rate for those whose pensionable income exceeds €23,500 may see an increase of up to €11.23 per week. These increases are in addition to the €8 per week pension increase introduced at the start of the year, he said.
This adjustment to the social security pension is expected to benefit around 26,000 individuals, including those who receive a widows pension, over the coming months, it was said.
It was stated that these changes do not apply to individuals whose pensionable income is lower than the Maximum Pensionable Income, as their pension is already based on their full salaries and thus already reflects the full two-thirds entitlement.
"This government delivers on all its promises. Every individual is receiving what is rightfully due to them. I want to emphasize that this adjustment is being given only to those affected by this anomaly," Minister Michael Falzon said.
Permanent Secretary Mark Musu also spoke about the ongoing process to continue improving widows' pensions. This initiative is now in its fourth year and is expected to conclude by 2027. Within two years, all widowed pensioners will be receiving the same pension rate that their spouses would have received had they still been alive, it was said.