Malta Retirement Pensions Act enters into Force

Malta Retirement Pensions Act enters into Force

The Retirement Pensions Act together with the new Regulations and Pension Rules came into force on the 1st January 2015.

The Regulations and Pensions Rules have been issued with a view to supplementing the legal framework for the licensing and regulation of Retirement Schemes (both Occupational and Personal), Retirement Funds and Service Providers related thereto, as well as for the requirement of recognition for persons carrying on back-office administrative services. 

Persons currently registered under the Special Funds (Regulation) Act have until the 31st December 2015 to comply with the new Act. Until such time as a licence is granted by the MFSA, the Retirement Pensions (Transitional Provisions) Regulations, 2014 provide that such persons will continue to be governed by the provisions of the Special Funds (Regulation) Act.

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