Calculator · Malta 2026
Malta Pension Calculator 2026
What will you actually get? Enter your year of birth, contributions and salary — get your weekly state pension, tax position and what a private pension adds. No jargon.
Max pension 2026
€383
per week (incl. COLA)
Tax exemption
100%
up to €37,104 (2026)
Private pension credit
€750
max tax credit/year
Retirement age
65
born 1962 or after
About You
Contributions & Salary
Private Pension (optional)
Contributing €250/month (€3,000/year) earns the maximum €750 annual tax credit from the government.
Deferral
Delaying your pension past retirement age increases it permanently.
Enter your details to see your pension estimate.
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How It Works
Malta's Pension System — Plain English
Think of it as a three-legged stool. Most people in Malta only sit on one leg.
1
State Pension — Mandatory
The Two-Thirds Pension from the Department of Social Security. You pay weekly contributions your whole working life. The maximum in 2026 is €383/week — which is far below the average salary. This is the only leg most Maltese people have.
2
Workplace Pension — Voluntary (quasi-mandatory from 2025)
Employers must now offer an occupational pension option. Government employees get matched contributions up to €100/month. Both employer and employee get a €750/year tax credit. If your employer offers this — use it.
3
Personal Retirement Scheme (PRS) — Voluntary
Set up with any MFSA-licensed bank or insurer. Contribute up to €3,000/year and get a 25% tax credit (up to €750) back from the government. Access it between ages 61–70. Take up to 30% as a tax-free lump sum. If you're not doing this, you're leaving money on the table.
Retirement Age & Full Pension Requirements
| Born | Ret. age | Full pension |
|---|---|---|
| Before 1952 | 61 | 35 years |
| 1952–1961 | 62–64 | 35 years |
| 1962–1968 | 65 | 40 years |
| 1969–1975 | 65 | 41 years |
| 1976+ | 65 | 42 years |
2026 Tax Exemption — The Good News
From 1 January 2026, pension income is 100% exempt from tax up to €37,104. This is the completion of a phased programme that started in 2022 (20% exempt) and reached 100% in 2026.
For most Maltese pensioners, this means zero tax on their state pension. A new targeted rebate also applies: (chargeable income − €15,000) × 15%, capped at €540.
For most Maltese pensioners, this means zero tax on their state pension. A new targeted rebate also applies: (chargeable income − €15,000) × 15%, capped at €540.
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Frequently Asked Questions
What is the maximum Malta state pension in 2026?
The maximum Two-Thirds Pension in 2026 is approximately €373/week (€19,388/year), based on the Maximum Pensionable Income (MPI) of €29,083 for those born after 1962. With the 2026 COLA of +€10/week, the effective maximum is around €383/week. This is significantly below the average Maltese salary.
How many contribution years do I need for a full pension?
Born before 1962: 35 years. Born 1962–1968: 40 years. Born 1969–1975: 41 years. Born 1976+: 42 years. The absolute minimum for any pension is 10 years. If you're short, you can retrospectively pay back up to 5 missing years of contributions.
Is the Malta pension taxable in 2026?
No — from 1 January 2026, pension income is 100% exempt from tax up to €37,104 (Legal Notice 53 of 2026). For most Maltese pensioners, this means zero tax on their state pension. A small targeted rebate also applies for higher-income pensioners: (chargeable income − €15,000) × 15%, capped at €540.
What is a Personal Retirement Scheme and should I get one?
A PRS is a private pension you set up with any MFSA-licensed bank or insurer. You contribute up to €3,000/year and the government gives you a 25% tax credit — up to €750/year back. You access it between ages 61–70 and can take up to 30% as a tax-free lump sum. If you're working in Malta and not contributing to one, you're leaving free government money unclaimed.
Do child credits count toward my pension?
Yes. For those born after 1962, you get 4 credited contribution years per child (up to 3 children, maximum 12 years). Born before 1962: 2 years per child. These credits count toward the minimum threshold and your pension proportion, but not the pensionable income average.
What happens if I retire later than my pension age?
Deferring your pension past retirement age increases it permanently. Deferral bonuses: +5% (1 year), +10% (2 years), +18% (3 years), +29% (4 years). You cannot work in paid employment during the deferral period. The bonus applies to your entire pension for life — for those with a full pension, this can be significant.