It goes without saying that the younger one starts to plan for this major milestone in life, the more wealth may be amassed up to retirement. In fact, anyone from the age of 18 to 59 can embark on these plans. Furthermore, these pension plans qualify for tax incentives and therefore one can be eligible for a tax credit of 25% up to the maximum set by Government. Under current legislation, one can enjoy a tax credit of up to €750 per annum.
Investment returns can go down as well as up and the past is not necessarily a guide to future performance. Changes in the rate of exchange of currencies may also affect the value of investments.
If you stop paying your plan before the chosen retirement date, you may not get back as much as you invested.
If you invest in this product, you will not have access to your money before the retirement date.
Bank of Valletta p.l.c. with registered office 58, Triq San Żakkarija, Il-Belt Valletta, VLT 1130 is an enrolled Tied Insurance Intermediary under the Insurance Distribution Act, Cap 487 of the Laws of Malta for MAPFRE MSV Life p.l.c. (MMSV). MMSV is authorised under the Insurance Business Act, Cap 403 of the Laws of Malta. Both entities are regulated by the Malta Financial Services Authority.
Tax treatment depends on the individual circumstances. Tax legislation and the amount of rebate may change in the future.The product is manufactured by MAPFRE MSV Life p.l.c. and distributed by Bank of Valletta p.l.c.