Through the coming into force of LN 228 of 2017 entitled ‘Voluntary Occupational Pension Scheme Rules’, the Government launched the long awaited tax incentives for Maltese pension plans where an employer is also a contributor to the pension plan. To shed more light on these new incentives, GANADO Advocates organised two information sessions hosted by Dr Matthew Brincat who leads the pension law practice at GANADO Advocates.
The first session took place on the 1st of November and covered the following topics, amongst others: types of schemes available in the market and their flexibility, who can participate, how to qualify for incentives, methods of contribution collection and required licences. It thus attracted attendance from service providers including banks, insurance companies, trustees and financial advisors.
The second session, that was held on the 8th of November, addressed the Human Resources aspects, focusing on the structure of available models, eligibility, the benefits for employers and employees of such tax incentives and the possible impact pension scheme offers will have on recruitment and/or retention.