MAPFRE MSV Life p.l.c. (MMSV), a leading insurance company, is pleased to announce a limited time offer on all new Unit Linked Personal Pension Plans issued between June 23rd and September 30th, 2023. During this promotional period, MMSV will be adding a €175 Top Up to the new Unit Linked Personal Pension Plan when the policy is set up, and the first premium paid by the client is allocated.
The MAPFRE MSV Life Personal Pension Plans are qualifying schemes that enable customers to benefit from tax credits offered by the government, subject to eligibility. In 2023, the tax credit stands at 25% applicable to a maximum contribution of €3,000, resulting in a maximum tax credit of €750 per person.
One of the appealing features of MAPFRE MSV Life Unit Linked Personal Pension Plans is the opportunity for clients to link their pension savings to Lifestyle Funds. Lifestyle Funds, also known as Target Funds, provide a vehicle for investing funds towards a specific retirement goal. These funds offer a combination of conservative, moderate, or aggressive risk allocations based on the saver’s stage of life. As the retirement age (Target Date) approaches, the Lifestyle Fund will automatically shift to a more conservative mix of assets under the guidance of the fund manager, without requiring intervention from the investors.
Michael Galea, Chief Business Development Officer of MAPFRE MSV Life, emphasized the importance of saving for retirement and the benefits of the Personal Pension Plans. “Through our special offer, we aim to encourage people to start saving now for the crucial life goal of building adequate savings to support their lifestyle during retirement. Our Personal Pension Plans help individuals accumulate a sum of money that will provide a tax-free cash lump sum upon retirement, as well as a regular pension income to supplement the State Pension.”
Galea further explained that upon accessing a Personal Pension Plan, as per current rules, individuals can withdraw up to 30% of the plan value as a tax-free lump sum, with the remaining balance generating income during retirement.
MAPFRE MSV Life places great importance on offering pension savers the option to invest in a well-diversified mix of major asset classes. Future pension adequacy is not solely based on saving enough, but also saving wisely. “We believe that the MAPFRE MSV Life Personal Pension Plans are ideal to help people save effectively towards their retirement while benefiting from the tax incentives provided by the government,” concluded Mr. Galea.
Don’t miss out on this limited time offer from MAPFRE MSV Life. Start planning for a better quality of life in retirement by taking advantage of the special promotion on Unit Linked Personal Pension Plans. For more information, please visit www.mapfre.com.mt or contact any of our authorised intermediaries.
If you stop paying your plan before the chosen retirement date, you may not get back as much as you invested. If you invest in this product, you will not have access to your money before the retirement date. The income you get from this investment may go down as well as up. Tax treatment depends on the individual circumstances. Tax legislation and the amount of rebate may change in the future.
To get in touch please visit: https://personalpensionplanunitlinked.msvlife.com/
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. MAPFRE MSV Life p.l.c. is regulated by the MFSA.