After a lifelong career, you have every right to look upon your retirement as a time to enjoy and fulfil your dreams. Planning for retirement is much easier when you plan your finances, our retirement and pension plans make retirement planning a breeze.
Our retirement and pension plans are flexible medium to long term savings plans that have been specifically designed with retirement in mind.
They are particularly suitable for:
Our plans give you several benefits:
Terms, conditions and exclusions may apply. Investment should be based on the full details contained in the relative policy documents. Please ensure that you read the Key Features Document which may be downloaded from our website or obtained from any BOV Branch. We strongly recommend that you also read the relative policy document which may be obtained from any BOV Branch before making any decision about whether to acquire a policy.
Why should I opt for a Unit Linked Pension Plan?
What is the Unit Linked Pension Plan?
How much tax credit am I entitled to?
Maximum Tax Rebate
The tax credit is only available in respect of the income tax chargeable for the year during which the contribution was made. Unused credits cannot be carried forward to subsequent years.
What do I have to commit to?
The following are the main features of plan:
The Personal Pension Plan is designed to help you save for your retirement and thereby safeguarding your future quality of life.
It also provides you with the option to start taking benefits between age 61 and 70 as in line with current legislation. During this time you can choose to:
Our Pension Plans are considered as Qualifying Personal Retirement Schemes, and therefore you may qualify to receive 25% tax rebate on your contributions up to a limit of €500 (for 2019).
The charges cover the cost of setting up the Plan, any advice provided, as well as the costs of administration, marketing and investing your money.
€150 - €40
€2,500 - €4,999
Eligibility for tax credit:
You may claim the tax credit against your contributions if you are:1. age eighteen or over at the time when a contribution is made; and2. domiciled and/or resident for tax purposes in Malta.If you meet the above criteria then MSVLife will issue a certificate confirming that your MSV Personal Pension Plan satisfies the relevant legislation to enable a tax credit to be granted.
Tax treatment of the plan:1. Contributions are eligible for tax credit as detailed above.2. At retirement you may opt to receive up to 30% of the fund value as a tax free lump sum.3. After taking any cash lump sum the remaining fund is then used to provide you with an income which is subject to Income Tax.
Do you want to learn more about the Personal Pension Plans? Then why not start with a free quote or by clicking on the ‘Live Help’. One of our representatives will be able to help you immediately. If you require more details about the range of life policies from MSVLife, you may: