Second Acts: When Retirement Isn’t the Answer

Imagine this: you’re 58, you’ve just been made redundant, and you find yourself staring at a hefty redundancy package. It’s enough to retire on, but you’re not ready to hang up your boots just yet. This is the reality for many Maltese professionals, like Joe, a long-serving manager at a leading local company who asked us not to use his real name.

Malta’s Silver Surfers

Malta’s workforce is aging. According to Eurostat, the percentage of people aged 55-64 in employment here is higher than the EU average. Many, like Joe, have spent decades climbing the corporate ladder, only to find themselves pushed off it by restructuring or automation. But retirement? That’s not on their radar.

“I’ve still got so much to offer,” Joe says, sitting in a café in Valletta’s Republic Street, his eyes reflecting the determination that’s kept him going all these years. “I don’t want to sit at home, I want to work. I want to contribute.”

From Redundancy to Reinvention

Joe’s not alone. We spoke to several Maltese professionals who found themselves in similar situations. Some are using their redundancy packages to start their own businesses, others are retraining, and some are even moving into completely different sectors.

“I’ve always been interested in tourism,” says Maria, a former HR manager who’s now running her own tour company. “I’ve lived here all my life, I know this island like the back of my hand. I thought, why not share that with others?”

Maria’s story is echoed by others. Peter, a former IT consultant, is now a beekeeper. “I’ve always kept bees as a hobby,” he says. “Now, I’m doing it full-time. It’s hard work, but it’s rewarding.”

Supporting the Silver Surfers

But while the spirit is there, the path isn’t always smooth. Many find they need retraining or support to make the switch. This is where local initiatives like Senior Connect come in. Based in Birkirkara, they provide training and support for older workers, helping them adapt to new roles or start their own businesses.

“We’re seeing more and more people like Joe and Maria,” says Claire, Senior Connect’s director. “They’ve got experience, they’ve got skills, and they’ve got a lot to offer. We’re here to help them do that.”

And what about Joe? He’s using his redundancy package to set up a consultancy business. “I’ve spent my life advising others,” he says. “Now, I’m going to do it for myself.”

As he looks out over the Grand Harbour, he smiles. “This isn’t the end. It’s just the beginning of a new chapter.”