Im Momentum fordert die Regierung auf, eine langjährige Ungerechtigkeit im Rentensystem des Landes anzugehen, die junge Arbeitnehmer zwischen 16 und 18 Jahren zu Unrecht bestraft.
Im Momentum fordert die Regierung auf, eine langjährige Ungerechtigkeit im Rentensystem des Landes anzugehen, die junge Arbeitnehmer zwischen 16 und 18 Jahren zu Unrecht bestraft.
It is an injustice I think, however the social security contributions in Malta are not ring-fenced and used exclusively for pensions. In practice these contributions flow into the consolidated fund and are also used to finance other things e.g. unemployment benefits, parental benefits, children allowances etc.
whilst I think that something should be done about it, a question that comes to mind is: should this change be done from now onward? or should it be retroactively? I think that form an equity point of view it should be the latter, but in that case, that could have quite a significant effect on the cost of total pensions literally overnight (due to those who are about to retire now/ recently retired). The latter is compounded further by the reforms implemented to incentivise people to work beyond pensionable age.
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Full press release here:
https://partitmomentum.org/momentum-is-calling-on-the-government-to-address-a-long-standing-injustice-in-the-countrys-pension-system-that-unfairly-penalises-young-workers-between-the-ages-of-16-and-18/
It is an injustice I think, however the social security contributions in Malta are not ring-fenced and used exclusively for pensions. In practice these contributions flow into the consolidated fund and are also used to finance other things e.g. unemployment benefits, parental benefits, children allowances etc.
whilst I think that something should be done about it, a question that comes to mind is: should this change be done from now onward? or should it be retroactively? I think that form an equity point of view it should be the latter, but in that case, that could have quite a significant effect on the cost of total pensions literally overnight (due to those who are about to retire now/ recently retired). The latter is compounded further by the reforms implemented to incentivise people to work beyond pensionable age.