The Maltese Retirement Pensions Market

in collaboration with

 Castille Logo  GANDO LOGO

Course Outline

The regulation of pensions under the Special Funds (Regulation) Act and the promotion of Malta as a base to administer foreign personal pensions, has triggered a market for Malta to be used as a base for QROPS, QNUPS and other UK linked pension products that have been in place since 2009.

On the local front on the other hand, the introduction of a voluntary third pillar pensions is touted as the next step in the implementation of the 2006 pension reform, hopefully opening up the local market to the introduction of new personal pension products for the local market. The provisions of the new Retirement Pensions Act of 2011 and the draft MFSA Pension Rules are also anticipated to spur activity on the market, making it easier for pension funds to locate their activities in Malta.

This course will delve into the current issues and future challenges of the private pension market and will provide attendees with a broad outline of the current legal, tax and regulatory framework for Maltese pensions.

Who should attend?

The course is ideal for staff of registered and prospective retirement scheme administrators, investors, policymakers, insurance companies with an interest in pensions and retirement schemes, personal wealth managers, asset managers, banks and custodians, trustees, professionals who are interested in the subject and students.

Venue, Dates and Time

Castille Institute, 2, Casa Leone, Triq l-Imhazen, Pjazza Robert Sammut, Floriana
28th October & 4th, 11th and 18th November, 2014  (Fully Booked)
4.00pm – 6.00pm (welcome coffee included)
* 8 hours of structured CPE qualifying for the attainment of Professional Development Competencies in terms of the MIA CPE Regulations

Participation Fee

€260; cheques are payable to either
1. Castille Institute, Casa Leone, Piazza Robert Sammut, Floriana, FRN 1200, Malta
*Cheque payments in euro denomination should be made payable to Castille Staffing Limited.
For payments by bank transfer please pay fees to the Castille’s Euro bank account on:
HSBC Bank Malta – Castille Staffing Ltd – A/C No: 033 307133001
IBAN: MT98 MMEB 4433 6000 0000 3330 7133 001

OR

2. The Institute of Legal Studies, 19/12, Vincenti Buildings, Strait Street, Valletta VLT 1432, Malta
*Cheque payments in euro denomination should be made payable to Institute of Legal Studies Malta.

Registration

If you are interested kindly use our online registration form or email your contact details to rsultana@castilleresources.com

Programme

Session 1 – Tuesday 28th October 2014 / 1600 – 1800hrs
An Introduction to the Economics of Pensions
This lecture will introduce participants to the economics of pensions. Over the past years, the debate on the provision of adequate retirement income included discussion on various approaches such as Pay-as-You-Go, Funded or a mix within the context of adverse developments in terms of population ageing and financial market volatility. The lecture will also examine the current and future challenges and policy perspectives within the Maltese retirement pension scenario.
Speaker: Ms. Amanda Borg

Trust Law from a Private Pensions Perspective
The principles of trusts law form the backbone of a successful pensions arrangement. It is through the provisions of a Trust Deed that the payments into and out of the scheme are regulated.
This lecture will give participants an overview of local trusts legislation from a retirement pensions perspective. Participants will be given useful insights on the drafting of Maltese law governed Trust Deeds intended to be used as the foundational elements of pension schemes.
Speaker: Dr. Matthew Bianchi

Session 2 – Tuesday 4th November 2014 / 1600 – 1800hrs
The Retirement Pensions Regulatory Framework: Part I
This lecture will introduce participants to the legal and regulatory regime on retirement pensions with particular reference to the Special Funds (Regulations) Act, the MFSA Retirement Pension Directives and a brief outline on the registration process. The lecture will also provide participants with an overview of the implantation of the IORP Directive into Maltese law.
Speaker: Dr. Matthew Brincat

Session 3 –  Tuesday 11th November 2014 / 1600 – 1800hrs
The Retirement Pensions Regulatory Framework: Part II
This lecture will introduce participants to the legal and regulatory regime on retirement pensions with particular reference to the Special Funds (Regulations) Act, the MFSA Retirement Pension Directives and a brief outline on the registration process. The lecture will also provide participants with an overview of the implantation of the IORP Directive into Maltese law.
Speaker: Dr. Matthew Brincat 

Taxation of Retirement Schemes
This lecture will focus on the current Malta tax regime for private pensions.
Speaker: Dr. Stephen Attard

Session 4 – Tuesday 18th November 2014 / 1600 – 1800hrs
Compliance for Private Pension Schemes
Speaker: Ms. Victoria Muscat; Price Water Coopers Malta

Panel Discussion
The discussion will be chaired by Matthew Brincat who will interview a number of key players in the field. The panel discussion is intended to stimulate an exchange of views on current issues affecting retirement and pensions. The discussion will centre on issues relating to the implementation of second pillar schemes in Malta, issues which have arisen in connection with the management of third pillar pension schemes and wealth-planning issues affecting the provision of retirement pension schemes, among others.

Panel Participants:
Matthew Brincat (Moderator)
Stuart Fairbairn (MSV Life)
Philip Rietti (Blevins Franks)
Bethell Codrington (TMF)

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