In a move aimed at uplifting the lives of workers and fulfilling an electoral promise, the Maltese government has sealed an agreement to incrementally raise the minimum wage every year for the next four years.
This significant development is in addition to the annual adjustments provided through the Cost of Living Allowance (COLA).
The journey toward agreement began earlier this year when the government established the Low Wage Commission, which brought together representatives from both the government and social partners to collectively devise a strategy for increasing the National Minimum Wage.
Starting from January 2024, the National Minimum Wage will experience a steady increase over the next four years. This increase is separate from the regular COLA adjustments.
The current minimum wage, which stands at €192.73 per week.
By January 2024, this rate will rise to €213.54 per week. In essence, anyone currently earning between €192.73 and €198.73 per week will witness an increase of €2 to €8 per week, in addition to the statutory COLA for 2024. Those with salaries exceeding €198.73 but not reaching €200.73 per week will receive the difference, coupled with the COLA applicable for 2024.
For workers aged eighteen and above, the minimum wage progression in the coming years will look like this:
2024: € 200.73 + COLA 2024
2025: € 203.73 + COLA 2024 and COLA 2025
2026: € 206.73 + COLA 2024, COLA 2025, and COLA 2026
2027: € 210.73 + COLA 2024, COLA 2025, COLA 2026, and COLA 2027
This means that between 2024 and 2027, the National Minimum Wage will surge by €12 to €18 per week, in addition to the mandatory COLA increments.
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