Be the first to comment!Pension entitlements amounted to €37.5 billion for 2021
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Malta’s pension entitlements in 2021 totalled €37.5 billion or 244.4% of the country’s GDP, the National Statistics Office said today.
The NSO noted that most of the entitlements cover Social Security Pensions, amounting to €34.7 billion or 92.6% of the total entitlements.
There were 407,238 working age persons with paid or credited contributions, with foreigners accounting for 20.4% of the total contributors.
During 2021, pension payments exceeded €1.0 billion, 80.3% going towards recipients of Old Age type pensions.
On an international comparison, Malta’s pension entitlements was.the 5th lowest percentage among 27 European countries (24 EU Member States, Iceland, Norway and Switzerland) for which data is currently available.
The highest ratios were reported by Spain, Austria and Italy, at 507.0%, 464.0% and 443.0%, respectively. In contrast, Denmark registered the lowest share, with their obligations amounting to 94.0 per cent of GDP, followed by Ireland (177.0%) and Bulgaria (211.0 per cent%)
