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Personal Pension Plan - With Profits

Simple and Secure Retirement Options

Start saving for your retirement in a Personal Pension Plan which offers you secure growth and a tax rebate equal to 25% of the amount you save each year.

  • Start saving for your retirement from just €40 a month.
  • You can apply for a tax rebate equal to 25% of the amount you save each year, up to a maximum permitted by legislation.
  • Supplement your state pension when you retire to maintain your lifestyle when you stop working.
  • If your circumstances change, you can change the amount you save, or take a break from saving altogether.

Current legislation states that you will be able to start taking your benefits when you are between the ages of 61 and 70 (or any other age specified in S.L. 123.163 under the Income Tax Act, or any Regulations substituting this legislation).  At which time you can choose to receive up to 30% of the fund as a tax free lump sum, with the balance used to provide you with a regular income. 

Tax treatment depends on the individual circumstances. Tax legislation & the amount of rebate may change in the future. MAPFRE MSV Life p.l.c. (C-15722) is authorised by the Malta Financial Services Authority (MFSA) to carry on long term business under the Insurance Business Act, Cap 403 of the Laws of Malta. MAPFRE MSV Life p.l.c. is regulated by the MFSA.

What you get back will depend on our investment performance and the bonuses we add. Future bonuses are not guaranteed. The value of your pension plan will be less than illustrated if the bonuses declared are lower than illustrated.

  • If you transfer your Plan early you may receive less than the Policy Account. This will happen either as a result of transfer charges in the early years or if we are forced to apply a Market Value Reduction (MVR). An MVR may be applied if the value of our investments falls suddenly. 
  • The returns you get on With-Profits investments depend on a number of factors including.
    • The return on investments in our underlying With-Profits Fund.
    • The way we distribute any profits on the fund.
    • Factors beyond our control, such as tax and the effect of inflation.
    • Profits and / or losses from non-participating plans (other than unit-linked plans) which are also part of the With-Profits Fund.
    • The cost of meeting any guarantees that we provide.
  • The rate of future bonuses cannot be guaranteed and may also change over the years. 
  • Inflation will reduce the real future value of any cash sum. 
  • When you retire the fund value may be less than illustrated if: 
    • You stop contributing into the Plan, or reduce contributions.
    • Investment performance is lower than illustrated.
    • You take your benefits earlier than your selected retirement date - Tax rules change.
    • Charges increase above those illustrated.
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