COLA increased for 2024 in Malta
Updated at Jul 11, 2024 | by Admin
COLA has been increased in Malta to €12.81 per week in 2024 for full-time employees. While part-time employees will be paid COLA of €0.32 per hour according to the number of hours worked.
When is COLA paid
COLA bonus is added to the monthly salary of the eligible employees and is paid every month. The Government of Malta specifies the amount of COLA for every year in the budget. Then the employers have to pay this additional bonus. The workers can see a raise in their salaries.
Who is Eligible for COLA
Cost of living adjustment is a government bonus and every working person in Malta is eligible for it. Whether you are a full-time or a part-time employee, you can expect a COLA bonus to be added to your salary.
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Luke Tristian
I'm Luke Tristian, a seasoned financial advisor based in Malta, with over 10 years of experience in helping individuals and businesses navigate the complexities of personal finance, investments, and tax planning. My expertise includes strategic financial planning, portfolio management, retirement planning, and navigating Malta's tax system. I work closely with my clients to provide tailored solutions that align with their financial goals, ensuring long-term growth and stability.