TMF Group reaffirms its commitment to the International Pensions market and Malta, by returning its pension business to a 100% owned subsidiary.
TMF Group, a leading provider of global business services, has reaffirmed its commitment to the International Pensions market and Malta, by returning its pension business to a 100% owned subsidiary; TMF International Pensions.
Previously TMF Group and Custom House Global Fund Services Ltd had been jointly running international pensions schemes from Malta with Custom House operating, and being licensed by the Maltese Regulator as the Corporate Trustee. Now the international pensions business has been brought back solely under the TMF umbrella and TMF Group has received a license from the Maltese Regulator to operate the schemes.
Bethell Codrington, Global Head of Pensions at TMF Group, commented: "This is a wonderful boost for our pension fund business. Knowing that we are part of the largest Trustee and Corporate Service provider globally, will give added comfort to our clients and their intermediaries in the service that we provide them. With smaller SIIP providers in the UK going out of business and some international pension providers struggling to be financially viable, the backing of a multi-million euro parent is something more clients and advisers are looking for."
TMF International Pensions in Malta provides ROPS (Recognised Overseas Pension Schemes), QNUPS (Qualifying non-UK Pension Schemes), IORPS (Institutions for Occupational Retirement Provision-EU) and other Employer Sponsored arrangements.
Bethell continued: "TMF International Pensions is well established at the top end of the ROPS market and Malta, being a full member of the European Union, has been the 'jurisdiction of choice' for most advisers because of its well-regulated and secure financial environment."
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