The new second pension scheme initiative has been welcomed by Momentum. “It is a necessary policy to ensure future retirees are financially secure, and it has our full support.”

However, it said that “the focus on the future should not come at the expense of the present. While we encourage today’s workers to save, the Government continues to deprive current pensioners of the service pension they rightfully paid for.”

Momentum insisted that “this creates a two-tier system of justice. True progress means building a secure retirement system for the future while also correcting the injustices faced by those who have already retired. We must honour the contributions of today’s pensioners.”

Momentum Treasurer Carmel Asciak said, “Momentum agrees with this proposal, in view of the low level of pensions today’s pensioners are receiving . But, while present workers are encouraged to enrol in a second pension scheme, ironically , successive governments continue to deprive today’s pensioners of the second service pension that these pensioners had paid for in the past. Is this the social justice that our country is aiming for?”

File photo: Gozo News/Alain Salvary

Permalink: Second pension scheme: Right for the future, unfair to the present – Momentum