Albany, NY -- (SBWIRE) -- 02/24/2015 -- Synopsis

The report provides in-depth industry analysis, information and insights into employee benefits in Malta, including:

* An overview of state and compulsory benefits in Malta

* Detailed information about private benefits in MaltaInsights into various central institutions responsible for the administration of the different branches of social security

* The regulatory framework of employee benefits in Malta

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Executive summary

The Maltese economy is one of the smallest in the EU. The country's gross domestic product (GDP) at constant prices declined by 2.7% in 2009 due to the global financial crisis. The crisis had a negative impact on Malta's industrial development and other economic activities, which resulted in increased social spending, especially on unemployment benefits. GDP also remained weak during 2010–2012 due to the sovereign debt crisis in the EU and aftereffects of the global financial crisis. However, the country has managed to post an annual GDP growth of 2.7% in 2013 in terms of purchasing power parity (PPP) and maintained a low unemployment rate of 6% in 2013, compared to the EU average of 17.9% of people aged between 25 and 64. This is likely to reduce pressure on the country's social spending in coming years.

Employee benefits in Malta can be broadly classified into two types: social security benefits and private benefits. The Maltese social security system covers the entire population and plays a vital role in the country's welfare system. Almost all employers in Malta offer additional benefits to their employees to motivate and retain them.

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Scope

This report provides a detailed analysis of employee benefits in Malta:

* It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits

* It covers an exhaustive list of employee benefits, including retirement benefits , death in service benefits, long-term disability benefits, short-term sickness benefits, medical benefits, workmen's compensation, maternity benefits, family benefits, minimum resources, long-term care benefits, unemployment and private benefits

* It highlights the economic and regulatory situations relating to employee benefits in Malta

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Reasons to buy

* Make strategic decisions using in-depth information related to employee benefits in Malta

* Assess Malta's employee benefits market, including state and compulsory benefits and private benefits

* Gain insights into the key employee benefit schemes offered by private employers in Malta

* Gain insights into key organizations governing Malta's employee benefits, and their impact on companies

Key highlights

The Maltese Social Security Act provides two schemes: a contributory scheme and a non-contributory scheme.

* According to the Social Security Act, all benefits, allowances and pensions which are categorized under the contributory scheme are subject to different contributions which are determined according to the benefits claimed. Non-contributory scheme offers medical benefits in cash and in kind, and social assistance to senior citizens who are unemployed, in search of work, or unable to work due to diseases subject to means testing

* In Malta, private employee benefit plans are voluntary in nature. Employers can define the type and level of coverage of the benefit to be given to their employees.

Table Of Content

1 Executive Summary

2 Introduction
2.1 What is this Report About?
2.2 Definitions

3 Country Statistics

4 Overview of Employee Benefits in Malta

5 Regulations

6 State and Compulsory Benefits
6.1 Retirement Benefits
6.1.1 Introduction
6.1.2 Types of retirement plan
6.1.3 Eligibility
6.1.4 Age
6.1.5 Pensionable salary
6.1.6 Benefits
6.1.7 Payment options
6.1.8 Employee and employer contributions
6.1.9 Taxation
6.2 Death in Service
6.2.1 Introduction
6.2.2 Eligibility
6.2.3 Benefits

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