BOV Insurance

Become an employer of choice

Invest in your employee’s long term financial well-being. The WorkSave Pension Scheme, which is an occupational pension scheme, is a tailored solution designed to align with your organisation’s goals and your team’s future in mind.

Tax Benefits

Get a tax credit of 25% on your contributions paid on behalf of an employee - up to €750 per annum per employee. Contributions paid on behalf of the employee are tax deductible subject to a capping.

Attract the best talent

Offering this benefit to your employees will make you more competitive and enhance your recruitment efforts.

Retain and reward loyal employees

Your employees are your best asset. Retain your employees by helping them make the first step towards their future financial planning.

Employer Benefits

Enhance employee retention efforts.

Scheme is flexible to allow for company needs.

Benefit from tax credit of 25% on your contributions paid on behalf of employee– subject to a maximum tax credit of €750 per employee per annum.

Contributions paid in the scheme are tax deductible up to €2,000 per employee per annum.

We guide you through the process from concept introduction all the way through the application stage, communication with your employees and beyond

Employee Benefits

Start Planning for their future financial well-being.

Get a 25% tax credit on contributions, subject to a maximum tax credit of €750 per annum.

No fringe benefit tax is payable on employer’s contributions.

Exempt from capital gains tax

Keep control of your plan by deciding how much and where to invest.

Maintain your standard of living beyond your working age.

Vast range of investment solutions.

The value of the investment may fall as well as rise and investors may get back less than originally invested. If you invest in this product, you will not have access to your money before the retirement date. If you stop paying your plan before the selected retirement date, you may not get back as much as you invested. Tax treatment depends on the individual circumstances. Tax legislation and the amount of rebate may change in the future. Changes in the rate of exchange of currencies may also affect the value of investments. Terms and conditions apply.

The Plan is registered as a Qualifying Scheme. Your Contributions may be eligible for a tax credit of 25%, up to a maximum amount set by Legislation. Under current Legislation, the tax credit can apply to a Contribution amount up to €3,000 per annum (resulting in a maximum tax credit of €750 per person). The tax credit is only available subject to You paying an equivalent level of income tax during the year in which Contributions were made. Unused tax credits cannot be carried forward to subsequent years. In order to ascertain your exact tax status in terms of this Plan, You should seek professional tax advice.

Issued by Bank of Valletta p.l.c., 58, Triq San Żakkarija, Il-Belt Valletta VLT 1130. Bank of Valletta p.l.c. 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) as listed in the MFSA’s Tied Insurance Intermediary (Companies) register, available at https://www.mfsa.mt/financialservices-register. MMSV (C-15722) is authorised under the Insurance Business Act, Cap. 403 of the Laws of Malta. Both entities are regulated by the Malta Financial Services Authority with address Triq L-Imdina, Central Business District, Birkirkara CBD 1010 – Malta.

This Product is manufactured by MAPFRE MSV Life p.l.c., which provides cover under this Policy, and is distributed by Bank of Valletta p.l.c.

Protect your business with the MAPFRE MSV Protection Plan

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