Malta | Budget 2016 – Pensioners

Malta | Budget 2016 – Pensioners

Relevant Government Budget 2016 measures affecting pensioners:

  • Cost of Living Allowance (COLA) – increase of €1.75 per week commencing January 2016 – view 2016 COLA
  • Malta resident status tax rates for 2016 – view 2016 resident status tax rates
  • Minimum contributory pension and bonus in 2016 shall be €7,280 p.a. for persons with a sufficient number of contributions paid.
  • Minimum contributory pension and bonus in 2016 for persons with an insufficient number of contributions paid shall be pro-rata of €7,280 p.a.
  • Married pensioners receiving a minimum pension shall benefit from €4.15 per week increase over and above the COLA adjustment.
  • Persons born after 1968 shall require 41 years of valid social security contributions instead of 40 years to be able to apply for a full pension.
  • Persons who in agreement with their employer continue to work after pensionable age shall have their pension increased by 2% – 4% per additional year in employment.
  • Pensions shall accrue on the day after the pensioner stops working or on death of the spouse.
  • Service pensions and disability pensions shall increase.
  • Pensioners of 75 years and over shall retain the grant €300 p.a.
  • Compensation of up to half the minimum wage shall be grated to persons employing in-house carers.

 

  Government Budget 2016 Highlights   Click here for full Government Budget 2016 Highlights

Downloads:  Budget 2016 Speech in Maltese

2 thoughts on “Malta | Budget 2016 – Pensioners

  1. Sunday, July 29, 2007, 00:00

    Workers claim discrimination over commuted pension

    Scores of workers were called to a meeting at the ballroom of the Phoenicia Hotel in Floriana yesterday to discuss their claim for a commuted pension.

    The workers who used to form part of the Emergency Labour Corps, the Pioneer Corps, and Dirghajn il-Maltin, and most of whom now work in the civil service, say they have been discriminated against over a commuted pension.

    An action committee was set up from among the workers to see what it can do to lobby for their claim.

    In a statement, the committee said that from January 16, 1979, it was established that newly appointed civil servants would no longer be eligible for a commuted pension.

    But recently it came to their notice that other workers in the same position had been given the opportunity to obtain a commuted pension because their appointment was given before January 16, 1979.

    The workers are arguing that they have been treated unjustly and are calling on the authorities to be given the same treatment.

    Dr Reno Borg is the group’s legal consultant.

    Extract from TOM – still waiting the reply

  2. While going through Budget 2016, there is a paragraph regarding anomalies re ex corps that were set up in 1975. Since I was one who joined `Dirghajn il-Maltin Corps` in 1975, can you please state how I am going to be effected regarding my pension.
    I am 59 years old and would like to know how my future pension is going to be effected?
    While thanking you for giving me the opportunity to ask you this question, I am looking for a reply.
    Carmel Farrugia


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