News Details

APS Bank launches new pension plans

26/10/2020

 

APS Bank launches new pension plans

APS Bank announces the launch of its suite of pensions products, consisting of the Occupational Pension Scheme and the Personal Pension Plan.

The APS Occupational Pension Scheme is offered at the employer / organisation level, allowing them to attract and retain skilled talent by taking care of their staff's future financial welfare. The APS Personal Pension Plan is offered at the individual level, providing the opportunity to improve on the Government Pension in a tax efficient manner.

Both schemes are authorised by the MFSA and are registered with the Inland Revenue Department. They enjoy favourable tax treatments and under present legislation, anyone setting up an APS Pension is entitled to a tax refund of 25% of the premium paid in for that year up to a maximum of Eur500.

Personal Pension plans are distributed from all APS Branches through authorised Investment distribution personnel who have been trained and are now authorised to distribute these plans. A specialised section within the Investment Distribution Unit (Corporate Sales), managed by Mark Lamb, will specifically target organisations for the Occupational Pension schemes.

Kenneth Genovese, Head of Investments Distribution at APS Bank said, "APS is a community bank with over 100 years of experience in providing trustworthy, personalised service to our customers throughout their life journey. We are now proudly extending our expertise to that stage in one's life when financial uncertainty may be higher. Our goal is to provide the best possible savings and investment outcomes with our pension products, offering our customers what best suits their lifestyle today while preparing them for the future."

Please visit our website for more information about the APS Occupational Pension Scheme and the APS Personal Pension Plan, or call our Contact Centre on 21226644.

 

Copyright © 2017 APS Bank plc
APS Bank plc is regulated by the Malta Financial Services Authority as a Credit Institution under the Banking Act 1994 and to carry out Investment Services activities under the Investment Services Act 1994. The Bank is also registered as a Tied Insurance Intermediary under the Insurance Distribution Act 2018.