Wednesday, May 23, 2018

Malta Rejects European Commission Recommendation To Increase Retirement Age

In response to the European Commission’s Country-Specific Recommendation (CSR’s) on Malta’s 2018 National Reform Programme, the Maltese Government has stated that it "is committed to retain free health care for its citizens and to continue to work towards a more sustainable pension system without changing the pensionable age." In the CSR, the European Community recommended that, in 2018, and 2019, Malta "{e]nsure the sustainability of the health care and the pension systems, including by increasing the statutory retirement age and by restricting early retirement." According to the Community:
The pension system faces the dual challenge of achieving sustainability while ensuring adequate retirement incomes. The long-term sustainability prospects for pension expenditure have improved, mainly thanks to a more positive assessment of Malta’s long-term growth potential. However, the measures introduced in the 2016 budget had only a limited impact on long-term sustainability of the pension system, which therefore remains a significant challenge.

Source: Government of Malta Press Release (May 23, 2018)

Additional source: Times of Malta "Investors may be deterred by shortcomings fighting corruption - EU" (May 23, 2018)

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