Malta. Pension schemes, funds licence extension
BOV Asset Management Ltd (BOVAM) has been granted the licence to provide investment management for personal retirement schemes, occupational retirement schemes and retirement funds in terms of the Retirement Pension Act.
BOV Asset Management Limited requested the extension of the licence following the legal notice that was issued last year intended to promote voluntary occupational pension schemes in Malta.
In the 2017 Budget, the government announced the introduction of various fiscal incentives to encourage employers to set up voluntary occupational pension schemes for their employees. Occupational retirement schemes may be established for or by an employer/s or an association of employers whose principal purpose is the provision of retirement benefits to employees.
Read More: Times of Malta
