Preparations for the third pillar pensions scheme are advanced and the scheme will be launched in the coming weeks, the Finance Ministry said today.

Third pillar pensions involve voluntary contributions to private pension schemes which people may opt to make to top up their state pension. They are often accompanied by tax incentives.

Finance Minister Edward Scicluna this morning discussed the government's plans with representatives of the Malta Bankers’ Association (MBA).

Prof Scicluna outlined the government’s vision for the Third Pillar Pension Incentive Scheme.

He invited the Bankers’ Association to submit its feedback.

The Malta Bankers’ Association was represented by its chairman and BOV CEO Charles Borg, HSBC CEO  Mark Watkinson, and MBA Secretary General James Bonello.

Further consultation meetings will be held with various stakeholders, including the Advisory Group on Pensions, the insurance industry, and other operators.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.