Elderly may be given priority in future government stocks

Priority for elderly investors in government stocks

The elderly may soon enjoy priority when future government stocks after the Prime Minister said he was in favour of “certain sectors of society enjoying priority”.

Joseph Muscat was reacting to comments made by Jesmond Mizzi, the managing director of Jesmond Mizzi Financial Advisors during the inauguration of their new Hamrun premises.

“It’s time for the government to give elderly the priority when government stocks are issued,” Mizzi said, adding that pensioners were taking “unnecessary risks”.

He said that investors had to be protected against certain abuse that existed.

Agreeing with Mizzi’s proposal, Muscat said that he was in favour of the concept whereby certain sectors of society enjoyed priority.

“We need to examine this idea from a regulatory point of view but it would help for people to have a stable income from certain products,” the PM said.

He added that such a system would be capped and strict regulations put in place to avoid abuses.