Attracting and retaining high calibre staff is a huge challenge for employers. Providing access to an occupational pension arrangement for employees is a key tool in any employee benefit package, demonstrating employer’s long-term commitment to staff and their families.

With state pension provision constantly evolving, many employees are recognising the value of an employer who helps them to plan and save for a sustainable income in their retirement.

STM Malta’s workplace pension solution provides excellent support to employers who want to invest in a long-term relationship with employees and benefit from the loyalty and commitment that this brings to your business.

Furthermore, both employers and employees can benefit from:

Simple set-up and admin
Great value for money
Tax incentives introduced by the Maltese Government for Voluntary Occupational Pension Schemes (VOPS)

With a number of QROPS providers to choose from, clients and their advisers need to ensure they choose an established, quality service provider with the commitment and longevity to administer funds for the entire term of the pension. As a company listed on the London Stock Exchange, and with schemes in the key jurisdictions of Malta and Gibraltar, STM are world leaders in the field of pensions.

STM provide pension solutions to companies and individuals resident in Malta and to internationally-mobile individuals through STM Malta Pension Services Limited.

One of the more recent newcomers to the QROPS arena and, with the added benefit of being a member of the EU, Malta has a wide number of double-taxation agreements, coupled with a sound financial services framework, good corporate governance, and solid regulation.

VAT is not applicable to Trustee services in Malta. Withholding tax of up to 35% is levied on countries that either have no DTA or a limited/remittance-based agreement. Up to 25% pension commencement lump-sum can be taken from age 55 from UK transferred funds. Further information can be obtained upon request.

We provide a complete pension transfer solution for both EU and non-EU residents alike, making the most of over 70 double-taxation agreements Malta has in place with other countries.

Our range of products available from Malta include:

QROPS & QNUPS
Packaged QROPS products utilising our own in-house life assurance company (STM Life)
QNUPS – available to UK or non-UK residents
EURBS – available in other EU countries
US QROPS for those resident in the United States
US Expat Plan
Occupational Pension Schemes within Malta

We employ numerous technical specialists and invest in product development to ensure the delivery of innovative and global solutions to both clients and intermediary partners.

Deborah Schembri

BA (Hons) Accty., Dip. Tax., FIA, CPA, MIM, MBA (Henley)
Role: Managing Director
Division: STM Malta Pension Services Limited
Speciality: Personal Pension Schemes and Trust & Company Management
Telephone: 00356 21 333 210
Email: info@stmmalta.com

About Deborah PENSION SERVICES

For individuals with an Irish occupational pension scheme, who no longer live in Ireland, there may be advantages gained by transferring their pension fund to the STM Protected Retirement Plan in Malta.

FLEXIBILITY UPON RETIREMENT:

Select your own retirement age between 50 and 75
Take an initial lump sum of up to 30% of pension plan value
Decide from a variety of income drawdown options on retirement, e.g. fund annuity plus additional lump sums from larger funds
Request pension payments in local currency where you live
No requirement to purchase annuity on retirement

INVESTMENT CHOICES:

Use your preferred investment manager and adviser
Access a wide range of investment opportunities
Invest in the currency of your choice

TAXATION:

No Maltese taxes on income or gains within your pension fund. Tax advice required for country where investments are located
On pension payments to you, tax in your country of residence to be considered. Consult any relevant Double Tax Agreement
No Irish income tax or Irish universal social charge deducted at source on pension payments to you
No death taxes in Malta or Ireland on your fund, although Irish Capital Acquisitions Tax may apply if your beneficiary is resident in Ireland. Death / Inheritance tax may apply in the country of residence of your beneficiary

TO APPLY, AN INDIVIDUAL MUST:

Be a member of an Irish occupational pension scheme with a transferable preserved benefit where the qualifying service in employment relating to the scheme exceeded two years and terminated (otherwise than on death) before normal pensionable date
Wish to transfer that pension for bona fide reasons (e.g. retiring overseas and want to consolidate pensions) and not for the purpose of circumventing Irish pension rules and conditions
Be tax resident outside Ireland and intend to remain outside Ireland
Have no intention to retire in Ireland

NEXT STEP

Please request information on our simple 3-step application process and how your clients could benefit from transferring their Irish occupational pension into the STM Malta’s EURBS.