Last Updated 01 | 10 | 2012 at 11:37

News

€388 million spent on retirement & old age pensions

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di-ve.com news
editorial@di-ve.com

During 2011, total government expenditure on Retirement and Old Age pensions amounted to €388 million. The share of Retirement and Old Age benefits has been onthe increase during the past years, reaching 53% for the year under review from 50% in 2008.
To commemorate this year’s International Day for Older Persons, the National Statistics Office presented a range of statistical data related to this population segment.

Preliminary figures based on the latest Census indicate that at the end of 2011, nearly a quarter of the total population, or 98,547 persons, were 60 years old and over. Furthermore, population projections reveal that this share will grow to 30% in 2025, and to 36% in 2050.

There were 49 grooms and 21 brides aged over 60 who tied the knot in 2011, an increase of 8% over the preceeding year. Around 20% of these spouses married for the first time.

Out of 3,266 persons that passed away in 2011, 2,660 or 81% were aged over 64. The cause for 49% of deaths occuring to persons within this age group were diseases of the circulatory system. These were followed by neoplasms at 24%.

According to the 2010 survey on Income and Living Conditions, the at-risk-of-poverty rate for persons living in households aged over 59 stood at 18%, whereas that for the younger age groups stood at 14%.

Figures from the same survey also revealed that nearly 11% of persons aged 65 and over felt they could not afford to eat a meal that includes meat, chicken, fish or a vegetarian equivalent every second day wile 15% could not afford to keep their home adequately warm.

Annual figures from the Labour Force Survey show an increasing trend in the participation of persons aged 60 and over in employment, which increased from 4.6% in 2001 to 7.3% in 2011.

During 2011, there were 59 persons aged 60 and over following an academic course at the University of Malta. Around 46% of them were following a course at Postgraduate level. On the other hand, students undertaking a course leading to an Undergraduate Certificate and Diploma amounted to 20%. Just over 64% of these students were males.

Recent statistics on outbound toruism have shown an increased participation of persons aged over 64, with figures reacing 24,185 tourists in 2011, from 12,469 in 2009. Similar to their younger counterparts, older tourists tended to opt mostly for non-package trips.

The majority of destinations chosen by these tourists were towards EU countries. From these, UK and Italy were the two most popular destinations at 35% and 30% respectively in the year 2011.

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