Planning for our future
Planning for our future is a responsibility that we owe to ourselves and to our loved ones. Do you want to keep on living as you are accustomed to once you retire from your work? Whether you're a young professional or in the peak of your career, understanding private pension plans is essential to secure your financial future. Firstly, private pension plans empower you to take control of your retirement savings. By contributing regularly, you build a nest egg that grows over time, ensuring you can maintain your standard of living postretirement. In Malta, current legislation states that funds can start to be withdrawn when you are between 61 and 70 years old. Up to 30% can be taken as a lump sum, and the rest provided as a pension.
Different plans offered by different providers allow you to choose investment options
tailored to your risk tolerance and financial goals. Charges between providers also vary so we always recommend shopping around. The best part of contributing to a private pension plan is that it may offer tax advantages. In Malta, the government provides an exceptional 25% tax rebate on the amount you save annually, up to €750 per year
Keep in mind that private pension plans complement the state pension, enhancing your retirement income. With Malta's ageing population and increasing life expectancy, it's essential to supplement the state pension to maintain financial independence in retirement. Remember that the best time to start saving for your retirement is when you receive your first ever pay cheque. The second-best time? This month.
Mark Bezzina
Top Money-Saving Tips for Your Next Holiday or Staycation
Whether you're thinking about a staycation in Gozo, a quick weekend break escape (just the two of you) or a family getaway abroad, having some saving tips up your sleeve can make a big difference. Holiday expenses can add up pretty quickly: flights, insurance, eating out and activities.
How can you make the most of your holiday budget but still have a great time?
Work out a budget & plan early
The best thing you can do is to work out a budget and start planning early to take advantage of early bird discounts and avoid the surge in prices of lastminute arrangements. You can also reduce certain ‘extra’ expenses you can do without like regular coffee
runs. €2.50 may not seem much but it adds up to €225 over 3 months.
Eat like a local
Skip the touristy crowded eateries and restaurants. It’ s a great way to save money and get a more authentic local experience. Seek out local markets, street food vendors, and family-run eateries. Try to find out where the locals dine and follow their lead!
Free & low-cost activities
Save by traveling on certain days, avoiding peak season. If you’re going to, say, a water park, consider off season days and look for multi-day discounts and deals. Before you get to your destination, research
attractions and activities that won ’t break the bank or are completely free: beautiful parks, hiking trails, beaches, and cultural sites that you can enjoy without spending too much.
Consider a staycation
If travelling would be a financial burden this year, consider a staycation instead. Pick a week and fill it with beach days and free or low-cost activities you can do throughout the week.
One last thing - don’t borrow money. It may be tempting but if you’ re finding it difficult to save money during the months leading up to your holiday, it will be even harder to pay it off after.
Amanda Lia Freelancer
Make the most out of your holiday budget!
ĠEMMA AT THE PUBLIC SERVICE EXPO 2024
Ġemma participated successfully again in this year ’s Public Service Expo held at Ta’ Qali between the 15th and the 19th of May 2024,
Besides feauturing prominently in the Ministry for Social Policy and Children’s Rights stand,
WHAT IS A BANK?
Ġemma organised an online quiz testing the participant’s financial knowledge.
Three winners were electronically drawn out of all correctly answered quiz participants.
The three participants were later awarded with a €100 One4All voucher each.
A financial institution where you can deposit your money and take a loan
WHAT IS A BUDGET?
A plan for spending and saving your income
WHAT IS A CURRENT ACCOUNT?
An account for everyday transactions
WHAT IS DEBT?
Money that you are expected to pay back
WHAT IS AN ENTREPRENEUR?
A person who starts and runs a business
WHAT IS AN EMERGENY FUND?
Money set aside for unexpected expenses
Winners are: Kirsty Avallone Amber Zerafa Alan Bezzina
Congratulations to the winners! Keep an eye for future Ġemma competitions. It is simple and easy to participate. You could be the next winner!
WHAT ARE EXPENSES?
Money spent on goods and services
WHAT IS INFLATION?
Decrease in the value of money when prices go up
WHAT IS INVESTING?
Putting money into assets to make profit
WHAT ARE NEEDS?
Goods or services required to survive
WHAT ARE WANTS?
Goods or services not required to survive
WHAT IS A SAVINGS ACCOUNT?
A bank account used to save money and collect interest
Ipproteġi lilek innifsek minn Frodi u Scams
Ifhem ir-Riskji tal-Pagamenti bil-Kard
Hekk kif ħajjitna qed issir
dejjem aktar diġitali, żdiedet ukoll il-prevalenza tal-frodi onlajn, scams, u tranżazzjonijiet minn kards mhux awtorizzati. Kemm jekk huma emails ta’ phishing, websajts foloz, jew ħlasijiet mhux awtorizzati mill-kard tiegħek, ittheddida hija waħda reali u mifruxa ferm. F'dan l-artikolu ser nidħlu fid-dinja talkriminalità onlajn, scams komuni u suġġerimenti dwar kif tista’ tipproteġi lilek innifsek meta tagħmel pagamenti onlajn.
Għarfien dwar ir-Riskji
Frodisti huma kapaċi jisfruttaw il-vulnerabbiltà ta’ persuni li mhumiex mgħarrfa tajjeb bi tranżazzjonijiet onlajn. Ħafna drabi jintużaw
tattiċi bħal emejls talphishing, websajts foloz, u inġinerija soċjali biex jiġu mqarrqa vittmi li ma jissuspettawx meta jiġu biex jaqsmu informazzjoni sensittiva jew jagħmlu pagamenti mhux awtorizzati. Dawn li gejjin huma xi scams komuni.
Phishing Scams
L-emails u l-messaġġi talphishing huma mfassla propjament sabiex iqarrqu b’min jirċevihom, bil-ħsieb primarju li jiżvelaw informazzjoni personali jew finanzjarja. Dawn l-emails spiss jimitaw istituzzjonijiet leġittimi u jista’ jkun fihom talbiet urġenti jew offerti li jħajruk. Dan biex iħajru lillvittmi biex jikklikkjaw fuq links malizzjużi jew jipprovdu informazzjoni sensittiva.
Websajts Foloz
Il-frodisti joħolqu websajts foloz li jimitaw ħwienet online leġittimi jew istituzzjonijiet finanzjarji biex iqarrqu lill-utenti biex idaħħlu d-dettalji tal-ħlas tagħhom. Dawn il-websajts spiss ikollhom differenzi sottili minn dawk reali, għalhekk huwa essenzjali li tivverifika l-awtentiċità tas-sit qabel ma tagħmel xirja.
Ħlasijiet bil-Kard mhux Awtorizzati
F'xi każijiet, il-kriminali jistgħu jiksbu aċċess għaddettalji tal-kard tiegħek permezz ta' diversi mezzi, bħal ksur tad-dejta jew apparati apposta ta' skimming tal-kards. Imbagħad, din linformazzjoni tiġi użata biex isir xiri mhux awtorizzat onlajn.
Ipprotegi lilek innifsek
Kun Dejjem Viġilanti
Oqgħod attent minn emails, messaġġi jew telefonati mhux mitluba li jitolbu informazzjoni personali jew finanzjarja. Evita li tikklikkja fuq links suspettużi jew tipprovdi informazzjoni sensittiva lil sorsi mhux magħrufa.
Uża Websajts Sikuri
Meta tagħmel xiri onlajn, kun żgur li qed tuża websajts sikuri b'encryption HTTPS. Fittex is-siġilli tal-fiduċja u vverifika l-awtentiċità talwebsajt qabel ma ddaħħal kwalunkwe dettalji tal-ħlas.
Issorvelja l-Kontijiet Tiegħek
Immonitorja regolarment iddikjarazzjonijiet tal-bank u tal-karta ta' kreditu tiegħek għal kwalunkwe tranzazzjoni mhux awtorizzata. Irrapporta kwalunkwe attività suspettuża lill-bank tiegħek immedjatament.
Ippermetti l-Awtentikazzjoni b'almenu Żewġ Fatturi
Kull meta jkun possibbli, ippermetti l-awtentikazzjoni b'żewġ fatturi għall-kontijiet online tiegħek. Dan iżid saff ieħor ta’ sigurtà billi tintalab it-tieni forma ta’ verifika, bħal kodiċi mibgħut littelefon tiegħek, biex taċċessa l-kont tiegħek.
Dejjem Żomm is-Software Aġġornat
Kun żgur li l-kompjuter tiegħek, l-ismartphone, u tagħmir ieħor qed iħaddem l-aħħar aġġornamenti tassigurtà u software antivirus biex jipproteġi kontra malware u theddid ieħor online.
Eduka Lilek Innifsek
Ibqa' infurmat dwar l-aħħar scams u tattiċi ta' frodi użati miċ-ċiberkriminali. Eduka
lilek innifsek u lill-membri tal-familja tiegħek dwar laħjar prattiki tas-sigurtà onlajn biex tevita li tisfa vittma ta’ scams.
Fl-era diġitali tal-lum, issalvagwardja talinformazzjoni finanzjarja tiegħek hija aktar kritika minn qatt qabel. Billi tifhem ir-riskji ta' frodi u scams onlajn u tieħu miżuri proattivi biex tipproteġi lilek innifsek, tista' timminimizza l-probabbiltà li tisfa vittma taċ-ċiberkriminali. Prova dejjem ibqa' viġilanti, uża websajts sikuri, ħu ħsieb ilkontijiet tiegħek regolarment u informa ruħek tajjeb dwar l-aħjar prattiki tas-sigurtà onlajn. Flimkien, nistgħu noħolqu ambjent online aktar sikur u sigur għal kulħadd.
Spettur Michael Tabone Financial Crimes Investigations Department (FCID) Pulizija ta’ Malta
