Retirement
Planning for your retirement is probably one of the most important factors to consider when setting out your long-term financial goals. Planning for your retirement will provide you with peace of mind in knowing that today's efforts will reap fruit tomorrow. No matter how far or close it seems to be, it’s never too early, or too late, to start saving for your retirement! Start saving for your retirement today in a Personal Pension Plan which offers you flexibility and investment choice, as well as receiving a tax rebate of up to €750.
FAQs
What are the MAPFRE MSV Life Personal Pension Plans?
The MAPFRE MSV Life Personal Pension Plans are long-term savings plans designed to build up a fund that will be converted into pension income when you retire. These plans are considered to be qualifying personal retirement schemes, so you may qualify to receive a tax rebate based on the amounts you save.
Who can have a Personal Pension Plan?
Anyone who is domiciled and/or tax resident in Malta and is at least 18 years of age.
What amount of tax rebate can I receive?
Under current legislation, you may receive a tax rebate equal to 25% of the amount you save each year, up to a maximum of €750. In order to be eligible, you must be at least 18 years old and domiciled and/or tax resident in Malta. Tax rebates are also available if you make contributions on behalf of your spouse.
How much can I save?
MAPFRE MSV Life offers a wide and flexible choice of where you can invest your savings, ranging from the With-Profits Fund to other funds managed by external professionals. The level of risk varies from one fund to the other, and the plan can be designed to reflect your personal investment objectives.
Where are my premiums invested?
The MAPFRE MSV Life Personal Pension Plans are long-term savings plans designed to build up a fund that will be converted into pension income when you retire. These plans are considered to be qualifying personal retirement schemes, so you may qualify to receive a tax rebate based on the amounts you save.
What happens if I die?
The plan will pay 101% of the full savings amount to your estate or designated beneficiary should you pass away before retirement. There is also a Funeral Expenses Benefit, which is an option to receive part of the 101% Death Benefit immediately to cover funeral expenses, up to a maximum of €2,500.
My wife and I are very satisfied with the exceptional service offered at Karus. Their intermediaries are very knowledgeable; they explained all products quite thoroughly. I would definitely recommend!
David Vella
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