Pensioners’ association calls for increased social assistance allowance in Faroe Islands

Starting January 1, 2025, the monthly allowance from the social assistance program will increase by 130 kroner. However, the National Pensioners’ Association argues that this amount should be significantly higher.

They are advocating for the allowance to be adjusted in accordance with price inflation.

According to Beate L. Samuelsen, the proposed increase is insufficient. She believes that, based on inflation rates, the monthly allowance should ideally be raised by at least 328 kroner. She pointed out that the expected rise in living costs could severely affect pensioners’ financial situations in the Faroe Islands.

The social assistance program was established to help pensioners manage their daily finances, particularly during times when living expenses are escalating. Beate L. Samuelsen emphasized that this is precisely the period when pensioners need additional support.

The National Pensioners’ Association has requested a review of the allowance and a price adjustment, but the current stance of the program administrators is resistant to change. Beate L. Samuelsen explained that the decision is linked to the country’s financial stability and the fact that the retirement age is increasing.

She insists that these factors should not compromise the financial wellbeing of pensioners. The National Pensioners’ Association is now urging the social assistance program to reconsider their position on this matter.