Following a lengthy consultation process which commenced on the 1st April 2013, the Regulations and Pension Rules came into force on the 1st January 2015 and were issued under the Retirement Pensions Act (Cap. 514 of the Laws of Malta),
The Regulations and Pensions Rules set out the legal requirements for the licensing and regulation of Retirement Schemes, Retirement Funds and service providers related thereto, as well as for the requirement of recognition for persons carrying on back-office administrative activities and includes more detailed regulatory requirements by which persons licensed or recognised under the Retirement Pensions Act are required to comply.
The issuance of the Regulations and Pension Rules should further consolidate Malta's attractiveness wherein to establish a Qualifying Recognised Overseas Pension Schemes ("QROPS").
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.