President Marie-Louise Coleiro Preca is hoping that the next Budget will include measures targeting the elderly, who are at risk of poverty.

She was making reference to recent statistics that show 17 per cent of those 65 and over are considered to be at risk of poverty.

“I am putting my faith in positive new initiatives the government should be considering for the next Budget,” she said yesterday in the opening address of a seminar on well-being in retirement, organised by The President’s Foundation for the Wellbeing of Society.

There was no hint of what to expect in the Budget when Parliamentary Secretary for the Elderly Justyne Caruana took to the podium, but various government exponents have indicated welfare spending as a priority.

Being at risk of poverty is measured by calculating an individual’s income as a percentage of the national median income. Anybody below the 60 per cent threshold is considered at risk.

The inadequacy of pensions has long been an issue of concern, with rising house rents complicating matters over the past two years. Anti-poverty campaigners have been calling for measures to ensure that the wealth generated by a growing economy is fairly distributed.

Ms Coleiro Preca said longevity had created new challenges for the labour market as the elderly sought jobs to help maintain their standards of living.

Ms Coleiro Preca urged employers and unions to discuss new systems of employment in old age, something that was picked up by audience members when the seminar opened for debate.

A man approaching retirement spoke of the difficulty of applying for jobs, since experience was valued less than qualifications by many employers.

His gripe was followed by one from a retired nurse, who said she would like to work on a part-time basis, for a few hours a week, but was finding it difficult because employers wanted young full-timers.

Retired businesswoman Helga Ellul said that more could be done at a policy level to encourage employers to continue using the services of retirees as mentors for young workers.

The root of the problem is the realisation elderly couples now have to face each other more often

Gerontologist Marvin Formosa, one of three keynote speakers, said the importance of financial well-being was very often underestimated when issues concerning the elderly were discussed. “We tell the elderly to be active and socialise because it helps foster well-being, but in the world we live in, that often means having to spend money, which makes financial security an important aspect of old age,” Dr Formosa told The Sunday Times of Malta after the first session.

In his presentation, Dr Formosa noted that most people walked towards retirement without planning for it.

Financial security was only one aspect of planning for retirement. Getting involved with a voluntary organisation, regular exercise and starting a hobby are all best initiated before the retirement age hits, he added.

Touching on one of the points raised by another audience member about grandparents’ rights, Dr Formosa said public policy in this area was lacking.

He said that in some countries, grandparents are eligible for their grandchildren’s Children’s Allowance if they took care of them in the absence of their parents.

Another speaker from the floor, a researcher, said the economic contribution of grandparents in terms of the childcare services they offer their sons and daughters has never been quantified. This was important, he insisted, since it could be used as an argument to counter the EU pressure for Malta to raise the retirement age.

Dr Formosa noted that retirement had become, over the past few decades, a lifetime in its own right, with people living for at least 20 years after reaching pensionable age.

Another key speaker, psychiatrist David Mamo, who specialises in gerontology issues, said at least a quarter of elderly couples who visited his clinic did so because the individuals suddenly realised they had to spend a lot more time together and alone.

“Many come to me for other issues, but the root of the problem is the realisation that they now have to face each other more often… most end up solving their issues,” to a smiling audience.

He said one of the key aspects that influenced how people viewed retirement was whether it was voluntary or imposed. Im-posed retirement often detracted from well-being. And Dr Mamo provided a medical answer to what is a characteristic of many pensioners: the lack of inhibition in speaking their mind.

“A slight deterioration of the brain’s frontal lobe – which is the part that applies the brake – with time means people become less inhibited and more willing to break free from constraints.”

Getting on in old age

Some tips from the keynote speakers:

■ Eat well: adopt a Mediterranean diet… and no, this does not imply Twistees, Kinnie or pastizzi.

■ Do exercise: stay active and healthy

■ Go for regular check-ups… and do not ignore that ailment.

■ Engage socially: get up, get dressed, go for a coffee… and have fun.

■ Engage your brain: keep learning, take up courses… and be creative.