Tag: pensions
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Social security expenditure rises by €88.3 million as pensions continue to drive government spending
Government expenditure on social security benefits reached €946.1 million in the first half of 2026, an increase of €88.3 million, or 10.3%, over the same period last year, according to the National Statistics Office. Contributory benefits rose by €63.4 million to €732.1 million, largely because retirement-pension expenditure increased by €42.2 million. Spending on the Two-Thirds…
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Budget 2026: COLA increase of €4.66 a week, pensions to rise by €10 a week, tax cut for families with children
Finance Minister Clyde Caruana announced a major tax reduction measure aimed at families with children, with an overall cost of around €160 million. Approximately 68,000 parents are expected to benefit immediately, with thousands more set to gain in the coming years. You can read the whole budget document by clicking on the link below: Diskors-tal-Budget-2026…
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Expenditure on social security increases by up to 10.5% in the first half of the year
The government’s expenditure on social contributions have increased by up to 10.5% compared to January-June of last year contributing to a higher government expenditure this year, according to the latest NSO statistics. The highest increase in social expenditure was noted in the standard two-thirds pension scheme with an increase of up to €45.1 million. Up…
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Budget 2025: COLA, Weekly Increases, Pensions & Additional Support for Widows
Starting next year, pensions will increase by €8 per week, which includes the Cost of Living Allowance (COLA) of €5.24 per week. This means that the direct rise in pensions, excluding COLA, amounts to just under €3 per week. In addition to the general pension increase, widows will receive an extra €3 per week, bringing…