Market Research Logo

Employee Benefits in Malta

Employee Benefits in Malta

Synopsis

The report provides in-depth industry analysis, information and insights of the employee benefits in Malta, including: overview of the state and compulsory benefits in Malta, detailed information about the private benefits in Malta, insights on various central institutions responsible for the administration of the different branches of social security and the regulatory framework of the employee benefits in Malta.

Summary

The Maltese economy is one of the smallest in the EU. The country’s gross domestic product (GDP) at constant prices declined by 2.7% in 2009 due to the global financial crisis. The crisis had a negative impact on Malta’s industrial development and other economic activities, which resulted in increased social spending, especially on unemployment benefits. GDP also remained weak during 2010–2012 due to the sovereign debt crisis in the EU and aftereffects of the global financial crisis. However, the country has managed to post an annual GDP growth of 2.7% in 2013 in terms of purchasing power parity (PPP) and maintained a low unemployment rate of 6.4% in 2013, compared to the EU average of 17.9% of people aged between 25 and 64. This is likely to reduce pressure on the country’s social spending in coming years.Employee benefits in Malta can be broadly classified into two types: social security benefits and private benefits. The Maltese social security system covers the entire population and plays a vital role in the country’s welfare system. Almost all employers in Malta offer additional benefits to their employees to motivate and retain them.

Scope

This report provides a detailed analysis of employee benefits in Malta:

  • It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits
  • It covers an exhaustive list of employee benefits, including retirement benefits, death in service, long-term disability benefits, short-term sickness benefits, medical benefits, workmen's compensation insurance, maternity benefits, family benefits, minimum resources, long-term care benefits, unemployment benefits, leave and private benefits
  • It highlights the economic and regulatory situations relating to employee benefits in Malta
Reasons To Buy
  • Make strategic decisions using in-depth information related to employee benefits in Malta.
  • Assess Malta employee benefits market, including state and compulsory benefits and private benefits.
  • Gain insights into the key employee benefit schemes offered by private employers in Malta.
  • Gain insights into key organizations governing Malta employee benefits, and their impact on companies.
Key Highlights
  • In Malta, any person aged between 16 and the normal retirement age (61–65 years for men and 60–65 years for women), must be insured as an employed, self-employed or self-occupied person under the Social Security Act 1987.
  • The Ministry for the Family and Social Solidarity, the Ministry for Health and the Department of Social Security are the main authorities supervising Maltese social security system in Malta
  • In Malta, private benefit plans are voluntary; employers can define the type and level of coverage of the benefit to be given to their employees. Company cars, fuel reimbursement and telephone allowance, and healthcare and risk benefits are the most common private employee benefits offered by employers.


  • Executive Summary
  • Introduction
    • What is this Report About?
    • Definitions
      • Table Definitions
  • Country Statistics
    • Table Malta - Country Statistics
  • Overview of Employee Benefits in Malta
    • Table Contribution Exemption
    • Table National Minimum Wage, 2014
  • Regulations
  • State and Compulsory Benefits
    • Retirement Benefits
      • Introduction
      • Types of retirement plan
      • Eligibility
        • Table Retirement Benefits: Early Retirement Contribution
      • Age
        • Table Retirement Benefits: Pensionable Age
      • Pensionable salary
      • Benefits
        • Table Retirement Benefits: Minimum Retirement Pension
        • Table Retirement Benefits: Bonus Paid According to Cost of Living
      • Payment options
      • Employee and employer contributions
        • Table Retirement Benefits: Contributions Paid by Employees
        • Table Retirement Benefits: Contribution Paid by Employers
        • Table Retirement Benefits: Maximum and Minimum Contribution by Self-Occupied Persons (Weekly)
      • Taxation
    • Death in Service
      • Introduction
      • Eligibility
      • Benefits
      • Payment options
      • Employee and employer contributions
      • Taxation
    • Long-Term Disability Benefits
      • Introduction
      • Eligibility
      • Benefits
      • Payment options
      • Employee and employer contributions
      • Taxation
    • Short-Term Sickness Benefits
      • Introduction
      • Eligibility
      • Benefits
      • Payment options
      • Employee and employer contributions
      • Taxation
    • Medical Benefits
      • Introduction
      • Eligibility
      • Benefits
      • Payment options
      • Employee and employer contributions
    • Workmen's Compensation Insurance
      • Introduction
      • Eligibility
      • Benefits
        • Table Workmen's Compensation: Benefit Paid on the Basis of Degree of Disability
      • Payment options
      • Employee and employer contributions
      • Taxation
    • Maternity Benefits
      • Introduction
      • Eligibility
      • Benefits
      • Payment options
      • Employee and employer contributions
      • Taxation
    • Family Benefits
      • Introduction
      • Eligibility
      • Benefits
        • Table Family Benefits: Maximum Children's Allowance
      • Payment options
      • Employee and employer contributions
      • Taxation
    • Minimum Resources
      • Introduction
      • Eligibility
      • Benefits
        • Table Minimum Resources: Minimum Guaranteed Resource Paid
      • Payment option
      • Employers and employees contribution
      • Taxation
    • Long-Term Care Benefits
      • Introduction
      • Eligibility
      • Benefits
        • Table Long-term Care Benefits: Long-term Care User Charges
      • Payment option
      • Employers and employees contribution
      • Taxation
    • Unemployment Benefits
      • Introduction
      • Eligibility
      • Benefits
      • Payment Options
      • Employee and employer contributions
      • Taxation
    • Leave
      • Introduction
      • Annual leave
        • Table Leave - Fixed National and Public Holidays
      • Maternity leave
      • Parental leave
      • Sick leave
      • Other leave
  • Private Benefits
    • Retirement Benefits
    • Disability Benefits
    • Death Benefits
    • Medical and Health Benefits
    • Other Benefits
  • Macroeconomic Indicators
    • Economic Performance
      • GDP at constant prices
      • GDP per capita at constant prices
      • GDP at current prices
      • GDP per capita at current prices
      • GDP by key sectors
      • Inflation rate
      • Annual average exchange rate
      • Unemployment rate
    • Demographics
      • Labor force
      • Total population
      • Urban and rural populations
  • Appendix
    • Methodology
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report