April 16, 2021

New occupational pension scheme offers big advantages for Malta-based businesses and employees

STM Malta Pension Services Limited has launched a new occupational pension scheme specifically created for businesses here on the Island.

The STM Malta Occupational Retirement Pension Scheme offers a simple, cost-effective solution that can be tailored to suit the needs of businesses large or small, and their employees.  

Deborah Schembri, Managing Director, STM Malta Pension Services Limited, said: “The advantages that local businesses can gain from our new pension product extend far beyond simply helping their employees to achieve their financial goals in retirement. It’s also a valuable recruitment tool to attract and retain the best people in a very competitive jobs market, plus it’s an excellent way to improve staff engagement, motivation and productivity. For employees, it offers a value for money investment with the costs of administration supported by their employer. And, of course, both employers and employees have the reassurance and confidence that comes from knowing it’s from one of the Island’s biggest pension trustees and administrators which administers approximately €1.8billion (£1.6billion) of client assets.”

Additional advantages of the pension scheme include:

  • Corporate tax incentives available to employers in the form of declaration for tax purposes of up to 3,000 Euros per employee per annum, plus a further tax credit of up to 750 Euros per employee per annum.

  • A personal tax credit for employees of up to 750 Euros per annum on personal contributions.

  • The scheme is a compounding investment based in a jurisdiction with no tax on growth, which therefore helps pension savings grow faster.

Commenting on how the scheme can be tailored to suit the specific requirements of businesses and their staff, Schembri added: “We understand how time-consuming it can be for businesses – especially SMEs – to set-up and control pension schemes, so we have created a product that removes that burden from employers, while also offering them a solution that can be customized to suit their specific requirements. There are many variables, including deciding which employees the scheme is available to, employee contribution rates depending on factors such as seniority or length of service, and employer contribution rates too. We can even tailor it down to fine details such as the branding of literature to reinforce employee engagement.”

The STM Malta Occupational Retirement Pension Scheme is established under a master trust for multiple employers and licensed by the Malta Financial Services Authority (MFSA). STM Malta Pension Services Limited acts as the scheme trustee and the Retirement Scheme Administrator. Businesses that are interested in the scheme can find full details here, or they can contact Gerald Xuereb (Relationship Manager at STM Malta Pension Services Limited) by emailing

STM Malta Pension Services Limited employs over 50 staff on the Island and it is part of STM Group Plc. 

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