10 Apr 2019
In January 2019, the Malta Financial Services Authority (MFSA) announced updated Pension Rules in Malta which impacted the way in which the Pension Trustees administered both new scheme applications and existing members on a number of levels.
Four main areas were identified, these being:
The below link takes you to the Malta Financial Services Authority January Newsletter which confirms that the changes have been made to the Retirement Pensions Act. A copy of the updated rules is available, but please note that these have been written for the Pension Trustee and not the scheme members:
deVere has worked with each of the Malta Trustees to ensure that we continue to comply with the regulatory changes and we recognise these as a positive move forward. The solutions that we have in place have been accepted by the Malta Trustees and, the necessary steps have been taken in order for our clients to be able to take advantage of appointing an acceptable Investment Adviser with the comfort of knowing that their funds are actively managed in a manner that meets their individual objectives, attitude to risk and regulatory expectations.
Any questions you have can be directed to either your financial adviser or your pension trustee who will be more than happy to help.