Addressing the presentation of the 2022 Budget, Finance Minister Clyde Caruana announced an increase of €24 million for pensioners with social security. Around 95,000 pensioners will benefit from an increase of €260 per year or €5 per week. €1.75 will go to address cost of living whilst €3.25 will be additional increase.
The Minister added that along with this, supplementary help will be added to all who will benefit from this addition. This includes pensioners, elderly and all those who can be in employment but do not have kids under the age of 16. Couples whose income in 2022 does not exceed €14,318 will be given an added benefit varying between €3.47 and €6.50 per week according to their income.
Solitary persons, including widows/widowers, whose income in 2022 does not exceed €10,221 will receive a benefit varying from €4.10 and €5.00 per week. This means 29,000 will be benefiting from an expense of €5.6 million per year.
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