Copyright maltatoday
A pension-matching scheme for public sector workers is still in the pipeline despite hiccups in its roll out, according to Finance Minister Clyde Caruana. Last year, Caruana announced that the government will contribute up to a maximum of €100 a month for public sector workers investing in an occupational pension plan. Caruana had said that the occupational plan for public sector workers will be hammered out with social partners, for roll our by mid-2025. However, it failed to take off. Caruana said this was due to logistical hiccups, but talks with stakeholders are underway. “That measure is still on the table. We have carried out a public consultation and we received a lot of feedback from the industry and many stakeholders. There are still certain things that need to be ironed out with stakeholders, especially with insurance providers.” “The nut to crack is about which act we’re going to use in order to safeguard the people who are going to buy into these schemes, whether it’s the retirement act or insurance business act.” Pension tax rebate to remain Caruana also said that the tax rebate offered on pension payments will remain in effect throughout 2026, despite it not being mentioned during his Budget speech. “There are many things that this government has done or launched throughout the years that weren’t mentioned yesterday. It doesn’t mean they’ve stopped. They’re there and will be carried forward in the coming years.”
