Financial Services

Pension Schemes

The increasing mobility of companies and individuals brings more to the fore the importance of creating international pension plans which were previously considered to be a purely domestic matter.

The enactment of the Retirement Pensions Act [Chapter 514 of the Laws of Malta] has supplemented the Maltese legal framework to license and regulate occupational and personal retirement schemes, retirement funds and related service providers, including the recognition of the back-office administrative services.

HM Revenue & Customs has also confirmed that Retirement Schemes established in Malta and regulated by the MFSA may be considered on a case by case basis for Qualifying Recognised Overseas Pension Schemes (QROPS) under UK Law, thus allowing the transfer of pension rights into the scheme without a UK tax charge.

At GTG we are able to offer assistance in the following areas:

  • Advisory services on the setting up of the scheme or fund
  • The Licensing Requirements and Licensing Process
  • Guidance on post-licensing obligations and governance requirements
  • Drafting of related documentation, including trust deeds, agreements and service contracts for third parties
  • Dispute resolution relating to any claims against the scheme or fund
  • Assistance in passporting