Over 41,000 to receive total of \u20ac26 million in pension increases<\/p>\n
The Ministry for Social Policy has said that payments will be handed out to 41,000 pensioners by the end of this week in order to reflect measures announced during the last Budget.<\/p>\n
By the end of this week, payments will be issued to married pensioners who are paid at the single rate, widows, service pensioners, persons born before 1962, and couples where both partners reside in elderly homes.<\/p>\n
In total, more than 41,000 pensioners will benefit, and between them will receive an additional €26 million on top of the increases they have already received.<\/p>\n
These details were announced by the Minister for Social Policy and Children’s Rights, Michael Falzon, together with Permanent Secretary Mark Musu.<\/p>\n
Minister Michael Falzon spoke about how married pensioners, who until now were paid at the single rate because their spouse is also a pensioner, will now be entitled to the higher married rate, thereby removing the difference they previously had in their pension due to their spouse receiving a pension.<\/p>\n
This change affects around 7,200 pensioners, mostly women, who receive the National Minimum Pension, Invalidity Pension or the Two-Thirds Minimum Pension.<\/p>\n
He also explained that, at the same time, the process to further improve widows’ pensions is nearly complete. In this case as well, the increase is additional to the €10 per week already paid at the beginning of the year and varies according to the pension rate their spouse would have received. Around 7,000 widows are benefiting from this additional income, which this year amounts to around €2.5 million.<\/p>\n
Similarly, the service pension that is not taken into account for social security pension purposes will increase by a further €200 to €3,866. In the case of service pensioners who have reached or will reach the age of 72, the full commuted amount from the service pension is being disregarded.<\/p>\n
Permanent Secretary Mark Musu explained that the process of this year’s adjustment for pensioners born before 1962 is also nearing completion. Since 2024, these pensioners have been guaranteed a basic increase equal to those born in or after 1962. However, those born before 1962 whose pensionable income exceeds the ceiling as it is being revised are receiving an additional increase in their pension. In total, around 20,000 pensioners are benefiting from this measure, including widowed pensioners, who between them will receive €16.5 million this year.<\/p>\n
Another measure that has come into force affects elderly couples who are in care homes, including at San Vinċenz. It was explained that the rates of deduction from their total income, which apply when both partners enter such homes, have been revised. Where previously 60% of each person’s income was deducted, this has now been reduced to 50%. For those whose deduction was 80%, it is now reduced to 70% each.<\/p>\n