Retirement Planning - Pensions and Retirement Planning in Malta from MSV Life

A female born in Malta today is expected to live until 81 years old. The average State Pension in Malta in 2005 was just Lm45 (€104.82) per week. By 2050 there will be approximately 700 Maltese aged over 100. A male born today is expected to live until age 79. The average State Pension paid in 2005 was just 80% of the national minimum wage. Because of inflation, Lm100 (€232.94) in 1996 would be worth just Lm23 (€53.58) today. You could lose up to 80% of your pension if you have to go into care.

Your Retirement Planner will show you how much additional income you might need in retirement and an estimate of how much you might need to save. You can also input different amounts of savings to see what impact they will have on any shortfall you might have.

Date of Birth (dd/mm/yyyy)	/ / ^{(e.g. 05/12/1973)}
Sex
What is your current annual salary (excluding overtime, bonus, commission)?	€ ^{(e.g. 15,000)}
What percentage do you expect your salary to increase each year between now and retirement?	^{(e.g. 3%)}
How many years have you worked to date?
What percentage of your final salary will you want in retirement?	% (Please do not type in %. Simply type in the number eg 100)

The Retirement Planner is not related to the local pension reform, and any suggested savings could be placed into any suitable long term savings vehicle. The Government is yet to confirm the rules and incentives for �private pension plans� and when they might be available.

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