PN pledges to reverse extra year in NI contributions introduced by Labour government
The Nationalist Party in government will reverse a policy decision that sees those born in and after 1976 having to work for 42 years instead of 41 to receive a full pension
A Nationalist government will remove the additional year in social security contributions introduced in the budget for those born in and after 1976.
The budgetary measure that came into effect on 1 January will require those effected to have 42 years of NI contributions instead of 41 to be eligible for a full pension upon retirement.
In a statement on Thursday, the PN pledged to reverse the government’s decision. “A new Nationalist government will remove the extra year of contributions imposed by Robert Abela's government and ensure you can receive your full pension without additional burdens,” the party said.
The measure was announced during last October’s budget presentation by Finance Minister Clyde Caruana. Although the measure leaves the retirement age untouched at 65, it means that people have to work an additional year to qualify for a full pension.
The PN criticised the new measure, insisting it is symptomatic of a government interested in taking care of its “inner circle”.
“While Robert Abela and Clyde Caruana are taking an extra year of National Insurance contributions from you, those close to them continue to profit and enrich themselves,” the PN said, recalling Labour MP Rosianne Cutajar’s infamous words, ‘everyone is pigging out’.
“Under Labour, it’s all about greed and excess – while you foot the bill with an extra year of contributions for your pension,” the PN said.
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