The Malta Independent 5 June 2026, Friday
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Michael Falzon presents list of people who benefited from BOV retirement plan

Monday, 20 July 2015, 18:49 Last update: about 12 years ago

Parliamentary Secretary Michael Falzon today tabled a list of individuals who benefited from an early retirement scheme from Bank of Valletta, including those born in 1961, the same year of birth as Mr Falzon.  “This shows that I was not given any preference,” he said.

It was this newsroom which first revealed that the parliamentary secretary was paid a €260,000 early retirement package.  

He noted that a Mr Fenech Adami and a Mr Borg Costanzi are also in the list and that they essentially benefitted from a larger sum then him.

Opposition Leader Simon Busuttil said that former BoV employees who left the bank to fill public posts are given unpaid leave and not the retirement package Mr Falzon benefited from. He asked whether the people on the list were given the same conditions.

Replying, Mr Falzon argued that should he return to BoV, he would have to return the sum pro rata.

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