While the thrust of the proposed pension reforms is in the right direction, there are still two areas which are not being tackled sufficiently and which are already a source of discomfort and preoccupation for pensioners, Alternattiva Demokratika said.

Chairman Arnold Cassola said in a statement that, if not tackled appropriately, the hardship would increase in future.

The proposed a €20 weekly rise for future pensioners was a step in the right direction, although still not adequate enough.

The group, however, was ignoring the plight of the over 22,000 pensioners on less than €500 a month and are unable to make ends meet.

“One must keep in mind that today pensioners are one of the most vulnerable sectors of society and therefore most susceptible to falling beneath the poverty level.”

These pensioners should immediately qualify, for the €20 a week raise.

This could be financed through a rise in the income tax rate or social security for high income earners, Prof. Cassola said.

He also noted that the second pillar pension was ignored by the recommendations.

“Alternattiva Demokratika believes that for those born after 1963, the second pillar pension should be introduced.

“This would be financed through contributions by the employer, the employee and the government,” it said.

These contributions, it said, would be invested in funds in the individual name of each person, to ensure a healthy income for the said individual at retirement.

“The lack of implementation of a second pillar pension scheme will lead to further poverty and erosion of pensions income in the future.

“It is irresponsible to continue to ignore the writing on the wall”, Prof. Cassola said.