MALTA - The Maltese government is to overhaul the country's pension system with the introduction of both the second and third pillars in a bid to ensure the adequacy of future pensions.
Cabinet is expected to finalise the details of the reform this week, but prime minister Lawrence Gonzi (pictured) this week said the second pillar model would likely be a “hybrid” structure that sat between...
MALTA - Outlays on pensions have been blamed for the 5.7% increase in social security spending, according to a report by the Maltese National Statistics Office.
MALTA - The hotly-debated pensions reform has been allowed to fall from public view and the growing silence is breeding uncertainty among the people, said Green Party chairman Harry Vassallo.
MALTA - The Opposition leader has said pension funding and payments should be resegregated - as they were in the 70s.
MALTA - No pensions crisis will arise until 2025 and therefore a reform of the system is not an immediate necessity and should be put off until 2011, according to the opposition party.
MALTA - Due to the vast number of small, family-run companies, second pillar pensions are unlikely to be widespread, said Albert Tabone, chairman of the Alliance of Pensioners' Associations.