95,000 pensioners start benefitting from an increase in pension

by Gozo News · January 7, 2023

95,000 pensioners start benefitting from an increase in pension Around 95,000 pensioners have started to benefit from improved rates in their pensions, with the new rate shown in payments sent out this week.

In a statement, the Minister for Social Policy Michael Falzon said that during this month, the increase of €12.50 per week has started being paid to the four categories of social security pensioners.

The increase is €2.60 in the pension rate and €9.90 for the cost of living. The beneficiaries are the retirement, widow, invalidity and old age pensioners.

It is estimated that in total these increases amount to an annual expenditure of approximately €111 million, he said.

The Minister said that this will be the sixth consecutive additional increase since 2018. “This is in addition to substantial increases that were given in 2016 and 2017 to pensioners on the minimum pension.”