Pensions

The HNW Team in Malta are considered a leading expert in Regulated Pension Plan administration and has developed a range of sophisticated regulated personal pension solutions and corporate solutions using Malta’s extensive and modern double tax treaty network. Regulated personal pensions can be used for a variety of purposes, ranging from top-up pension pots for wealthy UK residents to facilitating collective investment in UK Real Estate for non-UK residents. They also offer many advantages to US citizens, be they resident in the US or elsewhere, thanks to the favourable terms of the double tax treaty between the USA and Malta.

Key Highlights:

  • Secondary “top up” pensions for UK residents constrained by UK allowances
  • Flexible route for non-UK residents to invest in UK investment property
  • Considerable US tax and reporting advantages for US Citizens

Examples:

  • A high-earning UK resident business executive in his 40s was referred to us by a UK tax advisor. The client had already contributed the maximum he could to his UK registered pension plans and was looking for a solution to continue saving to fund his lifestyle in retirement. The client’s aims and future intentions were reviewed in depth and a Maltese pension plan established using his non-UK savings. Further contributions will be made on an annual basis from surplus post-tax UK earnings, with retirement benefits commencing once the client has retired at age 60, outside the UK.
  • A Middle Eastern family were introduced to us by their family office, as they were keen to explore the best way to facilitate a significant investment in to UK real estate. Under advice from a top-10 accountancy firm, the principals in the family each established a Maltese pension plan, contributing the cash they wished to deploy. Collectively this cash was used by the trustees to invest in a large portfolio of UK investment property, via a regulated UK Unit Trust, introducing considerable UK tax effectives.
  • An existing client was keen to combine his five UK regulated pension plans, amassed throughout his UK employments, by transferring them all to a single Maltese pension plan. The client was approaching retirement and had already settled on Portugal as his new home. Under advice from UK and Portuguese tax advisors the trustees distributed retirement benefits from his Maltese pension plan to the client in Portugal, creating a significantly more favourable tax profile compared to taking retirement benefits from the UK pension plans had the transfer not taken place.