Retirement Schemes in Malta

Maltese legislation has been enacted to allow the creation of Retirement Funds which are the vehicle for Retirement Schemes. The Special Funds (Regulation) Act 2002 has established this possibility and dictates the regulatory framework surrounding retirement funds, retirement schemes and the service providers. A Retirement Scheme may be enacted as either a trust or a contract. Retirement Schemes may be set up as either an occupational pension scheme or a personal pension scheme. Pension regulations allow for cross-borderĀ  pension schemes in EU Member states to be formed.

British pensioners have a specific retirement scheme which can be set up in Malta and which they can benefit from. The Qualifying Recognised Overseas Pension Scheme (QROPS) and the Qualifying Non-UK Pension Schemes (QNUPS) are established in Malta and regulated by the MFSA but they are recognized in the UK by the HMRC. These schemes are applicable for both personal and occupational retirement schemes.