Malta is trailing behind many other EU countries with its pension system, as they have yet to develop a modern day two or three pillar apparatus, that reconciles a state scheme alongside individual savings accounts.
There are private retirement plan insurers that exist on the Island, but this in no way matches an organised structure of exclusive pension provision.
Reforms in 2006 that came into operation a year later attempted to modernise Malta’s pension system, but the legislatio...
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