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The ageing of the Maltese workforce and the impact of pension age changes

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  • Aaron G. Grech

Abstract

In recent years the share of the Maltese labour force aged over fifty fell, reflecting migratory flows and rising female employment. However, ageing is still evident when looking at specific sectors and occupations. In these parts of the labour market, pension age changes have been very beneficial in sustaining activity. Contrary to expectations, workers in manual and arduous jobs have not resorted disproportionately to the early exit age, and career lengths have converged across occupations, and somewhat less so across sectors. Older working women have tended to extend their careers more readily than men did. By 2018 the behavioural response to pension age changes is estimated to have boosted GDP by as much as 1.3 percentage points. In sectors like public administration, agriculture and fisheries, water distribution and financial services longer working lives may have accounted for a tenth in the growth in value added registered between 2013 and 2018.

Suggested Citation

  • Aaron G. Grech, "undated". "The ageing of the Maltese workforce and the impact of pension age changes," CBM Policy Papers PP/01/2020, Central Bank of Malta.
    • Handle: RePEc:mlt:ppaper:0120
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    File URL: https://www.centralbankmalta.org/file.aspx?f=92776
    File Function: First version, 2020
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    References listed on IDEAS

    as
    1. Brian Micallef, "undated". "Estimating the Impact on potential output of structural reforms to Increase the female participation rate," CBM Policy Papers PP/03/2015, Central Bank of Malta.
    2. Ian P.Cassar, 2017. "Assessing structural change in the Maltese economy via the application of a hypothetical extraction analysis," CBM Working Papers WP/01/2017, Central Bank of Malta.
    3. Brian Micallef, 2018. "Estimating the Impact of Structural Reforms to Increase the Female Participation Rate in Malta," International Journal of Social Science Studies, Redfame publishing, vol. 6(8), pages 73-84, August.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    JEL classification:

    • J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies
    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions

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