With this aim in mind, the Company's retirement specialists and investment professionals, with the co-operation of Valletta Fund Management, a subsidiary of Bank of Valletta plc, and Fidelity Investments of the U.S., have created a new product to help those customers seeking to arrange personal retirement plans.
Middle Sea Valletta Life Assurance Co. Ltd. is pleased to announce the launch of "The MSV Retirement Plan", a regular premium unit-linked endowment life assurance policy with the customer choosing the underlying investment funds.
Public interest in retirement products has increased as nowadays, retirees face different challenges than those of previous generations. As people are living longer, it has been argued that Governments may not be able to sustain adequate levels of pension benefits in the future. Consequently, it may be further argued that more responsibility is devolving upon individuals to provide for adequate personal future retirement needs. With this in mind, the MSV Retirement Plan allows individuals to save for the future and also a means of enhancing such savings by allowing access to international and local stock markets. This Plan is linked to over 60 different investment fund options through Fidelity Funds SICAV, La Valette Funds SICAV, Wignacourt Funds SICAV and Rothschild Asset Management.
To provide further flexibility, the Plan may also be linked to the MSV Fidelity Managed Portfolio Service and the Five Arrows International Managed Portfolio Funds. This service relieves a client from the burden of investment decisions, and the fund managers will invest and manage the funds in accordance with the client's investment risk objectives.
The minimum premium of the MSV Retirement Plan is Lm 150 per annum. The Plan provides several options for life cover and may be used as collateral against a loan. Furthermore, the Plan also provides the option to guarantee the accumulated capital as retirement approaches thereby ensuring that such capital will not be subject to market volatility. Therefore, the MSV Retirement Plan offers a complete package, including several options, to ensure the future financial security and protection of Maltese future pensioners. The plan aims to give peace of mind not only for retirement needs but throughout a person's working life.
The Plan is available from Middle Sea Valletta's offices, all Bank of Valletta branches, licensed sub-agents of MSV, and all financial intermediaries licensed by the MFSC. All persons involved in the promotion of this Plan have undertaken suitable training that was conducted by MSV.
Middle Sea Valletta Life Assurance Company Limited is licensed by the Malta Financial Services Centre. The value of the underlying assets and the returns from them (and hence the value of the MSV Retirement Plan) can fall as well as rise according to the market conditions including exchange rate fluctuations.