The proposed third pillar pension has been in existence since the Stone Age. Now it has been aborted, before it took off again. Through the ECB directive to lower the bank interest rates on savings, the whole pillar has been blasted to shards. Out of the blue, interest rates have gone to the ground, putting us pensioners into chill penury.
Any sound replies by the Governor of the Central Bank of Malta or the Minister of Finance please? Apart from the grand idea to save, but not overdo it?
What sheer nonsense. And it poses an enigma. Low interest rates will not entice developers. That is passed on to consumers. What entices them is ease of access to borrowing money.