Insurance Association calls for mandatory workplace pensions in the Budget

Employers should also be required to contribute, and employees should have an opt out

The Insurance Association Malta has urged the government to make workplace pensions mandatory in the forthcoming budget while introducing a transitory framework for employers to contribute towards their employees' pensions.

"With people living longer and not always managing to set aside sufficient funds for their future, a mandatory workplace pension will help to smooth the transition to retirement while maintaining a good standard of living," it said.

The Association said private pensions were still relatively under-developed. Although the foundations had been laid, workplace pensions and private third pillar pensions still had a long ....

To read the full article press here