Irish pension trustee firm ITC International Pensions has moved into Malta with the launch of a new Qrops offering as well as the first commercially available EU-wide workplace pension scheme on the island.
Malta’s government has amended its income tax rules to make clear that savers can still take a 30% pension commencement lump sum (PCLS) when they transfer their pension pot into a Qrops registered on the island, after “significant lobbying” efforts by specialist provider Momentum Pensions.
UK citizens will still be able to transfer their pensions to Europe via a qualifying recognised overseas pension scheme (Qrops) despite Britain voting to leave the European Union, says Alan Kentish, interim chief executive of STM Group.
The UK narrowly voted on Thursday (52:48) to leave the European Union, an unprecedented move with an unclear outcome. What follows will undoubtedly be at least two years of uncertainty, but how will the offshore financial centres fare?
New Zealand pension firm NZ Endeavour Trustees has agreed terms with Malta-based Elmo Pensions to facilitate a partial or full transfer of pension assets between two of their respective Qrops funds.
International intermediaries’ platform Novia Global has expanded its offering with the launch of its Global Retirement Account (GRA).
Merill Sicav, a Malta-based multi-fund investment company, has launched its first sub-fund, called the Merill Total Return Income Fund, aimed at both retail and institutional investors.
The Malta Stock Exchange (MSE) has launched the MSE Sharia Equity Index, which has been certified as compliant with Islamic law by Dubai-based Islamic finance consultancy Dar Al Sharia.
Sovereign Pension Service in Malta has announced that it will offer flexi-access drawdown under its local Qrops scheme with immediate effect.
PraxisIFM, a Guernsey-based independent financial services group, announced on Thursday that it has expanded its pensions division, Trireme Pension Services, with the acquisition of Confiance Pension Services.
Fund administrator Abacus has appointed Paul Watterson as its Malta chief executive as focuses efforts on new business acquisition and growth.
International pensions administrator STM Group is looking to offer QROPS tailored for UK expats in Australia after HMRC scrapped thousands of schemes from its approved list in July.
