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

Aaron Grech

No PP/01/2020, CBM Policy Papers from Central Bank of Malta

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.

JEL-codes: H55 J18 J26 (search for similar items in EconPapers)
Pages: 20 pgs
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