New issuance of the 62+ Malta Government Savings Bond
As announced in the last Budget and following the strong demand for the 62+ Malta Government Savings Bond (MGSB) registered in the past four issuances held each year between 2017 and 2020, the government is launching another issue of the market-leading 62+ Savings Bond. This year, for the first time, the bond offer will be offered to all individuals born in 1959. Individuals born before January 1, 1959, will also be eligible to apply, yet as in the past issuances, preference will be given to all eligible applicants who until now have not yet acquired a 62+ MGSB. The bond offers a relatively good return over the life of the investment for a substantial number of older hardworking savers. It offers an attractive interest rate higher than that currently being offered by the market. The low interest rate environment continued to affect negatively the pensioners who are experiencing a substantial decrease in their additional income that used to be derived from past savings. This was the main reason behind the government’s decision to reissue the 62+ Malta Government Savings Bond for the fifth consecutive year. Although the terms and conditions of the 62+ MGSB being issued...