The Communist Party of Malta has said that it welcomes the initiative taken by the Government to increase the national minimum basic pension. "This policy is in line with the communist party proposal for the reform of the pension system," it said.
"The Communist Party reiterates its position against the introduction of the second pillar pension as this will mean part-privatisation of the pension system in Malta. The Party praises the Government for not opting to introduce the second pillar."
It added that, "on the other hand the Party is concerned with the time period that the full minimum basic pension will mature. The value of the pension than will remain as it is now, in terms of money depreciation."
The Communist Party appealed to the Government to find an alternative and just solution for this problem. "The pension system should remain under the control of the National Social Security System."