Unretirement: The New Wave of Older Workers in Malta

Imagine, if you will, the bustling streets of Valletta on a crisp autumn morning. The sun is casting its golden rays over the Grandmaster’s Palace, and the scent of fresh pastizzi wafts through the air. Amidst the humdrum of daily life, a familiar face is missing from the usual crowd. That face belongs to Joe, a man who, until recently, was a staple at the corner café, sharing laughter and stories over his morning coffee.

Joe, a 58-year-old Maltese man, was made redundant from his job of 30 years. But unlike many who might have chosen to retire, Joe finds himself eager to continue working. “I have enough money to retire,” he says, “but I don’t want to. I still have so much to offer, and I’m not ready to stop learning and growing.” Joe is part of a growing trend of older workers in Malta who, despite having the means to retire, choose to continue working.

Why the Unretirement Trend is Growing in Malta

Malta’s aging population and the increasing life expectancy are contributing to this trend. According to the National Statistics Office, the proportion of people aged 65 and over is projected to increase from 18.5% in 2016 to 30.7% by 2051. With more people living and working longer, the concept of retirement is evolving.

the shift in the job market towards knowledge-based roles is favoring experienced workers. “Age is an asset in these roles,” says Dr. Maria Attard, a sociologist at the University of Malta. “Older workers bring a wealth of experience, wisdom, and unique skills that can’t be taught in schools or universities.”

Malta’s Legal Framework: Supporting Older Workers

Malta’s legal framework is also encouraging older workers to stay in the workforce. The Employment and Industrial Relations Act allows for flexible working arrangements, and the age of retirement has been gradually increasing, currently standing at 65 for both men and women.

the government’s Active Ageing Strategy, launched in 2018, aims to promote the participation of older people in social, economic, cultural, sports, and civic life. This includes initiatives to support lifelong learning and training, making it easier for older workers to adapt to new roles and technologies.

Challenges and Opportunities: The Road Ahead

While the unretirement trend presents many opportunities, it also poses challenges. Age discrimination in the workplace remains a significant barrier for older workers. According to a 2020 survey by the European Commission, 43% of Maltese respondents aged 55-64 believe they have been discriminated against due to their age.

To tackle this, the Malta Union of Teachers, along with other unions, is advocating for stronger legislation against age discrimination. “We need to change the mindset that older workers are less productive or more expensive to employ,” says Marco Bonnici, the MUT’s president.

Meanwhile, companies are starting to recognize the value of older workers. HSBC Malta, for instance, has launched a ‘Mature Workers Programme’ to attract and retain older employees. “We’re seeing a shift in attitudes,” says Carolyn Cassar, HSBC Malta’s Head of Human Resources. “More companies are realizing that older workers bring a different perspective and a wealth of experience that can drive innovation and growth.”

Joe, now working part-time at a local NGO, is optimistic about the future. “I’m not ready to stop contributing,” he says. “I want to keep learning, keep growing, and keep making a difference. And I know I’m not alone.”

As Malta’s population ages and the job market evolves, the unretirement trend is set to continue. It’s a trend that, if embraced, could bring significant benefits to both individuals and the economy. As Dr. Maria Attard puts it, “We need to rethink what retirement means and create an environment where people can continue to contribute and thrive, regardless of their age.”