Pension Funds
Retirement Schemes in Malta
The establishment and operation of retirement schemes in Malta is governed by the Special Funds (Regulation) Act 2002.
The Malta Financial Services Authority (“the MFSA”) is responsible for the regulation and supervision of retirement funds and related parties thereto. ‘Related parties’ include the retirement fund administrator, the asset manager, the custodian and any other person carrying out functions for the retirement fund.
Overseas pension transfers
For clients who are moving jurisdiction, Malta may be a desirable destination for overseas pension transfers. Pension schemes in Malta are subject to a high standard of regulation, but at the same time provide the ability to make the most of their retirement funds within the European Union.
Apart from providing an efficient and user-friendly regulatory environment, Malta also provides the required professional expertise, administrative skills and support services, as well as very competitive cost structures. The pensions industry is also set to benefit from synergies with other expanding sectors of the economy such as insurance and investment services.
QROPS
Retirement schemes established in Malta and regulated by the Malta Financial Services Authority (MFSA), may be considered on a case by case basis to be eligible for a QROPS status under UK Law.
A Qualifying Recognised Overseas Pension Scheme (QROPS) constitutes a pension scheme which is established and regulated outside the UK, and which is recognised as a QROPS for tax purposes by the HM Revenue and Customs (HMRC). This gives more tax flexibility for individuals who have an accumulated pension in a UK recognised scheme, who would like to transfer their pension benefits to a recognised pension scheme outside the UK.
Services
Our firm may assist clients in establishing a retirement scheme in Malta and/or moving jurisdiction of an existing pension scheme to Malta.
For more information on how we can help you, please .Contact Us
