MAPFRE MSV LIFE PERSONAL PENSION PLANS
Simple and flexible solutions to save for your retirement
Start saving for your retirement in a Personal Pension Plan which offers you flexibility and investment choice, as well receiving a tax rebate equal to 15% of the amount you save each year.
- Start saving for your retirement from just €40 a month.
- You can apply for a tax rebate equal to 15% of the amount you save each year.
- Supplement your state pension when you retire to maintain your lifestyle when you stop working.
- If your circumstances change, you can change the amount you save, or take a break from saving altogether.
- Under current legislation, you can start taking your personal pension between ages 50 and 75, at which time you can choose to receive up to 30% of the fund as a tax free lump sum, with the balance used to provide you with a regular income.
WHAT ARE THE MAPFRE MSV Life PERSONAL PENSION PLANS?
They are long-term savings plans designed to build up a fund which will be converted into pension income when you retire. The Plans are considered to be Qualifying Personal Retirement Schemes, so you may qualify to receive a tax rebate based on the amounts you save.
WHAT AMOUNT OF TAX REBATE CAN I RECEIVE?
Under current legislation, you may receive the equivalent of 15% of the amount you save each year, up to a maximum of €150 if you are at least 18 years old, and are domiciled and/or tax resident in Malta. Tax rebates are also available if you make contributions on behalf of your spouse.
WHERE ARE MY PREMIUMS INVESTED?
We offer a wide and flexible choice of where you can invest your savings, from MAPFRE MSV Life's With Profits Fund, to other funds managed by external professionals. The level of risk varies from one fund to the other, and the plan can be designed to reflect your personal investment objectives.
WHO CAN HAVE A PERSONAL PENSION PLAN?
Anyone domiciled and/or tax resident Malta who is at least 18 years old.
WHAT HAPPENS IF I DIE?
Apart from paying out the Pension benefit on the retirement date, the Plan also provides valuable life insurance cover. The Plan will pay 101% of the value of the policy to your estate or a designated beneficiary should you pass away before retirement.
Get in touch with a Tied Insurance Intermediary
MFSP Financial Management Ltd is an enrolled Tied Insurance Intermediary under the Insurance Intermediaries Act, 2006 for MAPFRE MSV Life p.l.c. - MAPFRE MSV Life p.l.c. is authorised by the Malta Financial Services Authority to carry on long term business under the Insurance Business Act 1998. Both companies are regulated by the MFSA.