he Government must act fast on the pensions’ reform, as Malta is the only EU state with no second pillar pensions, the Union Ħaddiema Maqħudin said today in its budget proposals.

Addressing a news conference UĦM secretary general Josef Vella said that second pillar pensions which is a supplementary form of allowance is much more likely to be the affordable rather than third pillar pensions based on individual savings and life insurances.

Mr Vella said that after years of discussion, the Government should now take a decision before it is too late.

The UĦM is also advocating changes to the welfare system to encourage more people to enter the labour market. The proposal is to introduce a gradual tapering system, whereby the unemployed benefits are tapered out gradually over three years rather than abruptly when taking up employment.

It is also proposing that parents on the minimum wage received a €900 annual grant per child.

The UĦM is also urging the government to extend subsidies on photovoltaic and solar panels, as well as to introduce rebates on energy efficient home appliances.

The full set of proposals can be read in the pdf link below.