Retirement by Choice: The New Wave of Malta’s Silver Workers

Imagine this: you’re 58, you’ve just been made redundant, but instead of fretting about finances, you’re wondering, “What do I want to do with the rest of my life?” This isn’t a midlife crisis; it’s a new reality for many Maltese workers. Meet Joe, a former IT manager from Msida, who’s embracing ‘retirement by choice’.

From Redundancy to Renaissance

Joe isn’t alone. Malta’s aging population and economic shifts are driving a new trend: people choosing to retire early, not out of necessity, but by choice. “I’ve worked since I was 16,” says Joe, “I’ve saved, I’ve invested. Now, I want to enjoy life, give back, and try something new.”

According to the National Statistics Office, the average age of Maltese retirees is increasing. In 2001, the average age was 62.9 years; by 2017, it had risen to 64.6 years. With life expectancy also increasing, more people are finding themselves with time, money, and a desire to make a difference.

Retirement by Choice: A Growing Phenomenon

Around the world, ‘retirement by choice’ is gaining traction. In the US, it’s known as ‘encore careers’; in the UK, it’s ‘retirement jobs’. Here in Malta, it’s a growing phenomenon, but one that’s often overlooked. “We’re seeing a shift,” says Dr. Maria Attard, a local sociologist, “People are living longer, healthier lives. They want to contribute, learn, and grow.”

Take Maria, a former teacher from Birkirkara. After retiring at 60, she started volunteering at the Malta Community Chest Fund Foundation. “I’ve always loved teaching,” she says, “But now, I can share my skills, give back, and still have time for myself.”

Malta’s Silver Workers: Opportunities and Challenges

Malta’s silver workers bring a wealth of experience and skills. They’re driving initiatives like the ’50+ Jobs Malta’ programme, which connects older job seekers with employers. But they also face challenges. Ageism is a reality, and many struggle with the transition from structured work to the freedom – and responsibility – of retirement by choice.

Government initiatives, like the ‘Active Ageing’ policy, are addressing these issues. But more can be done. “We need to challenge stereotypes,” says Dr. Attard, “Promote lifelong learning, and create opportunities for older workers to share their skills and experience.”

Joe agrees. He’s now a mentor at the University of Malta’s iċ-Ċentru, helping students develop entrepreneurial skills. “I’ve learned so much,” he says, “And I’ve gained a new perspective on life. I’m not just retired; I’m still growing, still contributing.”

As Malta’s population ages, the need for flexible, meaningful opportunities for older workers will only grow. It’s time we embraced the potential of our silver workers, and encouraged more people to retire by choice.

So, what’s next for Joe? “I’m learning to paint,” he says with a smile, “I’ve always wanted to. Who knows, maybe I’ll even sell a few pieces. After all, you’re never too old to try something new.”