Support for People with Disabilities and Carers in Budget 2025

Oct 28 2024

During the 2025 Budget, Finance Minister Clyde Caruana announced substantial improvements to support individuals with disabilities and their carers.

Retirees with disabilities who previously received disability assistance but now rely on a contributory pension will receive adjustments to ensure their pensions meet at least the National Minimum Wage, with a guaranteed 10% increase from their former assistance level.

Disability and carer allowances will also rise, aligned with the National Minimum Wage increase. Individuals receiving Severe Disability Assistance will get an additional €7.42 per week, bringing it to €199.61, while standard disability assistance increases by €3.49 to reach €102.62 weekly. Carers supporting two family members with moderate to high dependency will receive 1.5 times the usual allowance rate in recognition of their additional responsibilities.

Families with children with disabilities will benefit from an extra €5 weekly for child disability allowance, now €35, and the Carers Grant, tied to half the minimum wage, will increase by €8.24 weekly, totaling €5,190 annually. The grant now also extends to parents of children under 16 with severe disabilities, securing future pension rights for these caregivers.

Additionally, tax credits for therapy for children with disabilities will rise to €750 annually, and Malta will open its first evening center for adults with severe disabilities, along with a new day center for elderly persons with disabilities.

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No Change In Fuel Prices

Oct 28 2024

During the 2025 Budget, Finance Minister Clyde Caruana has announced that, despite persistent global challenges, fuel prices won’t be changed. This means that throughout 2024 fuel will be kept at the same price and not be more expensive.

When referring to fuel, the government includes petrol and diesel, ensuring that life remains affordable for Malta’s many drivers.

Along with fuel, the government has committed to maintaining key subsidies energy and essential goods including cereals, flour, and animal feed.

This decision marks the fourth year in a row for these subsidies, designed to protect families and businesses from significant price hikes amid global economic uncertainty.

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€500 For Parents Whose Kids Continue Studying Beyond Compulsory Age

Oct 28 2024

Starting in 2023, the government introduced a special financial allowance aimed at supporting families with children who continue their education beyond compulsory school age.

This initiative provides parents with €500 annually for three years, supporting both state and private school students who pursue post-secondary education until the age of 16

In 2024, the allowance was extended to cover post-secondary students in recognition of the financial burden families often face during these additional years of education. This benefit is distributed to parents of children in post-secondary programs, helping to alleviate expenses related to their studies.

In 2025, approximately 10,500 families will receive their second allowance payment. Meanwhile, parents whose children began their post-secondary education in September 2024 will receive their first installment.

With an estimated expenditure of €6 million, this program highlights the government’s commitment to supporting the educational advancement of young people and easing the financial responsibilities on families as students transition to higher levels of learning.

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€8 Weekly Pension Increase to Benefit Over 100,000 Pensioners

Oct 28 2024

The 2024 Budget includes an €8 weekly pension increase, totaling €416 annually with the cost-of-living adjustment, benefiting over 100,000 pensioners—including retirees, people with disabilities, widows, and other eligible recipients.

This increase underscores the government’s commitment to placing pensioners at the forefront of social spending.

In addition, pensioners born before 1962 will see adjustments aimed at closing the gap in Maximum Pensionable Income, a disparity originating from the 2006 reform.

This measure will affect approximately 26,000 individuals whose notional working salary would exceed the current Maximum Pensionable Income of €23,500, promoting greater pension equality among generations.

Since 2013, regular annual increases have brought average annual pensions to €3,583, equivalent to almost €70 per week—significantly shortening the time it takes pensioners today to receive what they once did in a full year.

Further tax exemptions for pensioners over 61 ensure these increases remain within tax-free thresholds, while widows continue to benefit from full exemptions introduced this year.

#MaltaDaily