ĠEMMA newsletter
JULY 2026
INITIATIVES & EVENTS Dear Readers, The year is well underway, and we have been busy gathering feedback on the many initiatives and events completed so far, while also preparing an exciting programme of activities for the summer months ahead. Following the successful launch of ĠEMMA’s podcast and RetireSmart earlier this year, we have embarked on yet another exciting venture. ĠEMMA has partnered with Fundación MAPFRE to deliver tailor-made financial capability sessions for students attending the Institute of Business Management and Commerce at MCAST. Once again, these sessions have generated significant interest and have been very well received by participants. We have also begun a new collaboration with the Migrants Commission. The response to our first session exceeded expectations, with attendance so high that a larger venue was required to accommodate everyone. The enthusiasm shown by participants was truly encouraging, and we look forward to continuing this rewarding journey together.
During MoneyWeek, ĠEMMA launched two new educational resources: Nina u Samwel Jaħdmu bil-Għaqal, a storybook designed to introduce financial concepts to younger audiences, and Smart Starts: Save it, Spend it, Share it!, an accompanying workbook. Both resources are now being incorporated into PSCD teaching materials, helping to foster financial literacy from an early age. As always, we are preparing for a summer packed with engaging activities and educational sessions. One of the highlights will be the return of ĠEMMA’s popular children's sessions as part of Skolasajf 2026. In addition, we will be reaching even more young learners through collaborations with private summer clubs. Our
doors remain open to organisations interested in including one or more sessions focused on financial capability. Working with children continues to be one of the most rewarding aspects of our work. Their curiosity, creativity, and eagerness to learn are both inspiring and reassuring, giving us great confidence in the future of financial capability in Malta. As always, we encourage you to stay connected through our podcasts, social media channels, and website. And if you have not yet explored RetireSmart, we invite you to give it a try! The ĠEMMA Team
Ġemma newsletter
L-ISKEMA TA’ KUMPENS LID-DEPOŻITANT
CREDITS All Members Ġemma Team All Contributors Freelancers Content Coordinator Daniela Xuereb Proof-Reading Grazio Barbara Helena Holland Graphics Production & Distribution Peter Miceli Saydon Media Editor MSPC Tonio Bonello ĠEMMA Newsletter is another publication produced and distributed by the Ministry for Social Policy and the Family (MSF). Along with this newsletter, the Ministry produce several other publications under the brand name FAMILJA. FAMILJA AĦJAR is an annual publication aimed at informing the general public about the measures announced after each budget. Once a year, SUPPLIMENT SPEĊJALI FAMILJA is produced conveying content related to a specific entity and it’s services within MSF. On a bi-monthly basis, RIVISTA FAMILJA seeks to inform the readers with the holistic works of the Ministry combined with socio-cultural themes of general interest. If you would like to subscribe in our publications, please click here. All information provided is kept in the most confidential manner and in line with the data protection law of Malta. If you require further information or would like to contact us, you can write to ĠEMMA Team on our email address: gemma@gov.mt or visit ĠEMMA website: www.gemma.gov.mt You may also write to the Ministry Communications Unit about anything related to media and communications on familja.media@gov.mt
IS YOUR INVESTMENT PROTECTED? L-Iskema ta’ Kumpens lidDepożitant (Depositor Compensation Scheme) hi fond ta’ salvataġġ (rescue fund) għal depożitanti li investew f’banek li fallew u li huma liċenzjati mill -Awtorità Maltija għas-Servizzi Finanzjarji (MFSA). Il-kumpens jitħallas jekk il-bank ma jkunx kapaċi jħallas lura liddepożitanti. L-ogħla ammont ta’ kumpens li jitħallas għaddepożiti kollha ta’ kull depożitant huwa ta’ EUR 100,000. Jista’ wkoll jitħallas kumpens addizzjonali f’ċertu każijiet, inluż f’każijiet ta’ bejgħ ta’ proprjetà residenzjali privata u benefiċċji li jitħallsu mal-irtirar. L-ogħla ammont ta’ kumpens li jitħallas f’dawn ilkażijiet huwa ta’ EUR 500,000. Il-ħlas ta’ kumpens isir f’sebat ijiem tax-xogħol. L-Iskema ta’ Kumpens għallInvestitur (Investor Compensation Scheme) hi fond ta’ salvataġġ (rescue fund)
għall-investituri li investew f’kumpaniji ta’ investiment li huma liċenzjati mill-MFSA u membri tal-Iskema. Il-kumpens jitħallas jekk il-kumpanija ta’ investiment ma tkunx kapaċi tħallas lill-investituri. L-ammont totali ta’ kumpens li jista' jitħallas lil investitur huwa linqas minn 90% tal-ammont totali tal-investiment, jew sa EUR 20,000. L-Iskema tħallas kumpens fi żmien tliet xhur. LIskema tħallas ukoll kumpens fir-rigward ta’ kull sentenza jew deċiżjoni mill-Arbitru għasServizzi Finanzjarji sa EUR20,000, u dak il-ħlas isir fi żmien għaxart ijiem tax-xogħol.
Miriana Borg Senior Analyst MFSA
WORKING PENSIONERS IN MALTA As from the Year of Assessment 2027 (basis year 2026), pensioners in Malta who have attained the age of 61 will benefit from a favourable tax regime aimed at reducing their overall tax burden while supporting continued participation in the workforce. It is important to note that this tax incentive is available to all eligible pensioners aged 61 and over, irrespective of whether they remain in employment. However, pensioners who choose to retire at the age of 61 cannot engage in gainful employment or selfemployment activities.
For single pensioners aged 61 and over, pension income up to the €37,104 threshold is fully exempt. In addition, the first €12,000 of other taxable income, including employment income taxed under the single rates, is also subject to the 0% tax band. Married pensioners benefiting from the married tax rates similarly enjoy full exemption on qualifying pension income up to €37,104. Furthermore, the first €15,000 of taxable income falls within the 0% tax band, while the married tax rebate extends the effective taxfree threshold by a further €3,600, resulting in an effective tax-free amount of €18,600.
Any employment or other taxable income exceeding €12,000 for single pensioners or €18,600 for married pensioners is taxed in accordance with Malta’s standard progressive income tax rates. This system allows working pensioners to benefit both from a substantial pension tax exemption and from the standard tax-free income thresholds applicable to their marital status.
Malta Tax & Customs Administration (MTCA)
Save Money, Live in Comfort, Protect the Planet: Smart Choices That Do All Three You don’t have to choose between your wallet, living in comfort and caring for the environment, smart purchases can achieve all three. Energy-efficient appliances such as modern fridges, washing machines and air conditioners lower electricity bills while keeping your home comfortable and reducing emissions. When it comes to transport, choosing cars with low fuel consumption helps cut costs and pollution. Electric cars may also be cheaper in the long run, depending on the model and usage, making them a smart option to consider. Options like public transport, cycling or car-sharing also make everyday living easier and more cost-effective.
Investing in solar panels is another win-win: the upfront cost pays off over time through lower electricity bills, giving you financial relief without compromising comfort. Furthermore, there is the potential of income from excess energy generated. Smaller everyday habits, like switching to LED lighting, unplugging devices and using water-saving fixtures, also save money while supporting sustainability.
By making conscious, climate-friendly choices, you’re not just securing your financial future, you’re ensuring comfort at home and contributing to a healthier planet. Smart choices really do pay off in more ways than one. Follow ĠEMMA on Facebook or visit gemma.gov.mt for more financial tips and tools.
Daniela Camilleri ĠEMMA Team Member
A GOOD SUMMER DOESN’T HAVE TO COST YOU A FORTUNE! You’re scrolling through your socials and it looks like everyone is travelling, dining out, and completely transforming their seasonal wardrobe. But remember, social media rarely shows the full picture and not everyone has the same financial capability or priorities. And while summer should absolutely be enjoyed, it’s easy to overspend, especially when we start comparing our summer to everyone else’s highlight reel. But the truth is, you don’t need an expensive holiday or a packed calendar to make the most of the season. Before making any plans, decide how much you realistically want to spend over the summer months. Include things like outings, children’s
activities and any travel plans. Mix free activities with paid ones. Beach days, picnics, village feasts, movie nights at home or nature walks can be just as enjoyable without costing a lot. Set a small weekly budget to help you stay in control and avoid overspending early on. Watch out for impulse spending. Summer often comes with more frequent small purchases: iced lattes, snacks, online sales and last-minute plans. These can quietly stretch your budget. Consider a staycation. Exploring local spots, booking a short break closer to home or planning day trips can create great memories without extreme costs. Most of all, focus on experiences, not
appearances. A meaningful summer is not measured by how expensive or glamorous it looks online. Prioritise what genuinely makes you and your family happy and financially comfortable. Summer is meant to leave you with happy memories, not financial stress. With a little planning and mindful spending, you can enjoy the season while keeping your finances healthy too. Amanda Lia ĠEMMA Team Member
Enjoy your Summer Break