Average Retirement Age in 2023 Was 61.3 Years

Sep 20 2024

The 2023 Labour Force Survey (LFS) showed that 55,713 individuals aged 50-74 were receiving old-age pensions, with 96.4% relying on statutory pensions, either alone or with other types. Around 60% of pension recipients were male, with nearly half of men aged 50-74 receiving a pension, compared to just 28.1% of women.

The average retirement age was 61.3 years, slightly higher for women (61.8) than men (61.0). By pension type, the retirement age was 61.5 years for statutory pensions, 61.7 for private pensions, and 57.8 for occupational pensions. Most statutory pension recipients (90.5%) started without any bonuses or penalties.

Among pensioners, 7,991 were still employed, with 70.9% being male. Common occupations included highly skilled non-manual jobs (35.7%) and low-skilled non-manual roles (30.9%). Almost half of employed pensioners (48.3%) had secondary education or lower.

Nearly half (48.2%) stopped working upon receiving their pension, with men (50.4%) more likely to do so than women (44.3%). Over a third were already not working, with this share higher among women (39.3%) than men (31.2%).

Around 75% of individuals aged 50-74 not yet receiving a pension were making financial plans for one, especially men (97.3%) compared to women (55.0%). Pension entitlement expectations were highest among those aged 50-54 (90.2%), decreasing slightly for older groups.

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Government To Pay 100 Hours Leave For Self-Employed Prospective Parents Undergoing IVF

Sep 20 2024

In the upcoming Budget, self-employed parents undergoing IVF treatment will be eligible for up to 100 hours of government-funded paid leave during their treatment cycle.

Prime Minister Robert Abela announced this during a consultation meeting with the Chamber of Small and Medium Enterprises ahead of the 2025 Budget.

The meeting took place at NM Group in Naxxar, where the Prime Minister also met with the company’s management and staff.

During the session, the Prime Minister and the Chamber discussed proposals for the next Budget. Dr. Abela explained that self-employed mothers will now receive 60 hours of paid leave, while the second parent, if also self-employed, will be entitled to an additional 40 hours during the IVF cycle.

Speaking about small and medium businesses, Prime Minister Abela emphasised their role as the backbone of the economy. He stressed the importance of maintaining Malta’s competitiveness in the EU Single Market and taking a clear position in European discussions.

“We strongly oppose a ‘one size fits all’ approach. Our aim, even at the European level, is to avoid placing unnecessary burdens on businesses and instead offer incentive-based policies,” said the Prime Minister.

He was accompanied by Deputy Prime Minister Ian Borg, Ministers Clayton Bartolo, Miriam Dalli, Clyde Caruana, Parliamentary Secretary Andy Ellul, and Mark Mallia, Head of Secretariat at the Office of the Prime Minister.

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BYD Celebrates 1-Year Anniversary with SEAL Launch Event at Malta National Aquarium

Sep 20 2024

This September, BYD is celebrating its 1-year anniversary in Malta, and to mark the occasion, GasanZammit is hosting a special event at the Malta National Aquarium, Qawra, on Saturday, 21st and Sunday, 22nd September. Running from 10am to 6pm each day, this family-friendly event will feature test drives, kids’ entertainment, and exclusive technology showcases, promising a fun-filled day for all.

The event will also unveil BYD’s latest electric vehicle, the BYD SEAL, which continues the brand’s aquatic theme. Visitors can take the new BYD Seal for a spin alongside the entire BYD lineup while children enjoy various activities. Highlights will include demonstrations of BYD’s cutting-edge technology, such as the BYD YANGWANG U8 and e Platform 3.

The sleek and modern BYD SEAL, designed for eco-conscious families, has garnered international recognition, including nominations for the 2024 European Car of the Year and World Car of the Year awards. Its sporty design, spacious interior with features like a rotatable touchscreen and panoramic sunroof, and fast charging capabilities (just 26 minutes at home) make it a standout. Powered by a high-performance 390kW electric motor, the Seal accelerates from 0-100 km/h in 3.8 seconds and is equipped with BYD’s ultra-safe Blade Battery.

Test drives are available at GasanZammit’s Mriehel premises.

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Neil Agius To Start Swim Tomorrow Morning

Sep 20 2024

Neil Agius has just revealed that he will be kicking off his record breaking swim attempt tomorrow morning, 21st September, at around 8:30am.

Starting from Mellieha, Neil revealed that he will be heading south east around Malta towards Gozo, attempting to conquer 160 kilometres.

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A post shared by Neil Agius (@neil.agius)

This means Neil will be swimming for around 65 hours non-stop over the course over three days.

This comes after Neil set the previous record for the longest non-stop, unassisted swim. He previously set that record in 2021 with a distance of 125.7km.

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