VALLETTA (MALTA) (ITALPRESS/MNA) – The government has ruled out increasing the retirement age or social security contribution rates following the conclusion of the public consultation on Malta’s 2025 Strategic Pensions Report.
Social Policy Minister Michael Falzon said the government would honour its electoral pledge and continue strengthening pensions through measures planned for the current legislature, starting with the next Budget.
Key initiatives include a €50 weekly increase in pensions over the legislature, reforms to widows’ pensions so they match the amount a deceased spouse would have received, and the extension of the Cost of Living Bonus to provide equal payments for all recipients from next year.
Falzon also announced planned increases to the Maximum Pensionable Income threshold, which will be equal for all pensioners by 2028, regardless of their year of birth.
A total of 14 submissions were received during the consultation process, including contributions from organisations, private companies and individuals.
The feedback was reviewed by the Strategic Pensions Group, chaired by Permanent Secretary Mark Musu, which is preparing its final recommendations to government.
Falzon said the recommendations exclude any increase in the retirement age or social security contribution rates, adding that Malta’s strong economy and sound public finances make this possible.
He added that the latest strategic report confirmed significant improvements in the adequacy and sustainability of Malta’s pension system.
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