Malta retirement funds

Abstract

The Malta Financial Services Centre gave details earlier this year of draft legislation which if approved by Government could be an important building block in the development of private pensions in Malta. The Malta Retirement Funds Bill, as it is appropriately called, attracted much interest amongst practitioners in the financial services industry. But apart from this, there has been very little media commentary of what the proposed legislation has to offer. The proposed Act goes beyond the provision of retirement schemes for domestic purposes. Indeed when it was first drawn up, the Draft Law was called the Malta International Retirement Funds Act. The idea has been that of creating the legal framework to attract international companies offering retirement benefit packages and schemes to expatriates and companies employing them.