Issue link: https://maltatoday.uberflip.com/i/1300699
KARL AZZOPARDI OLD age pensions will be increas- ing for the sixth year in a row, with 93,000 pensioners netting a yearly increase of €24.2 million more be- tween them. With a weekly increase of €5, in- clusive of COLA, weekly pensions will be adjusted by €3.25 per week. Pensioners will be receiving a to- tal yearly increase of €260 yearly. The Finance Minister Edward Scicluna said there will also be an adjustment in the income tax brackets for pensioners with mar- ried computation to ensure more tax savings. The budget also proposes a €50 increase in bonus for elderly who have no pension, but had at some point paid National Insurance. People who paid less than five years of national insurance will re- ceive a bonus of €250, while those who paid more than five years of national insurance will be granted a bonus of €350. Around 11,000 elderly people, mostly women, will be benefitting from the measure. Elderly who live at their own home, or at a private residence, will continue to be granted a yearly sum of €300 if they are 75 years or older, and €350 if they are aged 80 years or older. Similar to previous years, the portion of any service pension which is not to be reduced from the retirement pension is being in- creased by a further €200. On accredited contributions, Sci- cluna said women who were born before 1962 and worked at the ages of 16,17 and 18 will have National Insurance payments for the years accredited to their names. The government will also be increasing the fiscal benefit for those holding a private pension by €1,000 to a sum of €3,000. Low tranche bonds targeted to- wards elderly aged 62 and over will be reissued in a move to mitigate banks' low-interest environment. Free bus travel for elderly will be reduced to 70 from 75. Around 19,000 elderly people will be bene- fitting from the scheme. Pensions for service personnel will be increasing by €200, and so the 2021 pension sum will total €2,866. Disability Parents who stop from work to care for a disabled child will be re- ceiving a yearly sum of €300 over and above their current disability allowance. In a measure which affects both the elderly and families with dis- abled relatives, government will be extending its assistance to part finance the wage of a home carer. Government's assistance of €5,291 will increase to €6,000. In a scheme aimed at increasing the integration of persons with dis- ability into society, the budget will be granting €10,000 to taxi owners with new cars having wheelchair access. The grant will only be given if more than ten years have passed since the previous vehicle's regis- tration. The old vehicle must be scrapped at an authorised facility. The assistance for severe disabil- ities will be broadened to include a wider range of disabilities. ASBESTOS victims will be compensated in a scheme announced in yesterday's budget. Shipyard workers or their families who got sick because of asbestos will be receiving compensation. Finance Minister Edward Scicluna said gov- ernment is currently in talks with former dockyard employees to pave the way forward. "Government is expecting that when all facts are in hand, appropriate compensation is granted to the former employees and their families," Scicluna said. A number of shipyard workers had in 2015 sued the Director General of Public Health, the CEO of the Occupational Health and Safety Authority and the Attorney General in 2015 over claims that they were exposed to the carcinogenic asbestos at their place of work. They claimed to have been exposed to the carcinogenic material without adequate safe- ty precautions being taken, despite it being a known fact that inhaling asbestos fibres caused cancer. The asbestos mineral was commonly used in the manufacturing industry for its resilience to damage by heat, electricity and chemicals. In the 1970s, it was discovered to be highly carcinogenic and was widely banned. As it has been doing in the past years, gov- ernment will also be allocating €9 million for 5,500 people from various entities who have passed through past injustices. ASBESTOS PENSIONS Asbestos victims to receive compensation Old age pensions increase for sixth year in a row 11 maltatoday | TUESDAY • 20 OCTOBER 2020 BUDGET2021 Government announces compensation scheme for asbestos victims and their families 93,000 pensioners to benefit from yearly increase of €24.2 million