PN government would ensure multiple sources of income for pensioners

A PN government would ensure a sustainable pension system while encouraging people to set up multiple sources of income for when they reach retirement age.

If elected to government, the party would also ensure that no pensioner suffers injustices brought about by past reforms or fewer social security contributions, deputy leader for parliamentary affairs David Agius said on Thursday.

Agius said the PN had come up with a series of proposals that would alleviate poverty following discussions with stakeholders about old age.

A Nationalist government would ensure a "decent pension system" that addresses the "alarming rate of poverty", he added.

Among others, the party would improve the COLA (Cost of Living Allowance) mechanism to allow for gradual, but realistic increases. A PN government would also launch initiatives for future pensioners so that they can start saving up and investing while still of working age.