PN promises better pensions to address 'alarming' poverty rates among elderly

The Nationalist Party proposes to improve the National Insurance pension calculation and incentivise multiple pension income sources

(File Photo)
(File Photo)

The Nationalist Party will guanratee a sustainable pension system to address the ‘alarming’ poverty and at-risk of poverty rate amongst the elderly, deputy leader David Agius said.

The party is proposing a self-sustainable pension system and good quality jobs in new sectors, while incentivising current and future generations to explore additional pension income sources.

Part of the proposed package will include improvements to the calculation mechanisms of NI pensions and COLA , and the introduction of new medicines to the list of free ones.

The final proposition is to provide and incentivise diverse solutions for the pensioners of tomorrow, so that they could save up and invest during their working years, in solid and guaranteed schemes.

Agius said that the proposals reflect forecasts for Maltese demographics in the next 50 years.

He said that in the coming days the PN will be presenting many other proposals to assure an annual increment in the rate of people who work past their retirement age.