Middlesea Valletta Life Assurance Company Limited (MSV) has launched it’s new MSV Retirement Plan from 30 January.
The new MSV Retirement Plan is a flexible long term insurance plan which has been designed specifically with retirement in mind. The plan offers savers complete independence, control and flexibility.
Savers choose what age they want to take benefits, how much they would like to save and where they want the money to be invested.
It allows savers the flexibility and freedom to save whatever they want, whenever they want. Savings can be increased or decreased at anytime and can even be stopped and restarted in the future when individual circumstances allow.
Savers can choose from a wide range of unit-linked funds as well as having the option to invest in the MSV With-profits fund, offering smoothed investment returns.
Benefits are payable at the selected retirement age, or on earlier death, and can be taken as a lump sum or with the option to receive benefits as a regular income.
MSV Pensions Consultant, Stuart Fairbairn explained “This new flexible product offers the best of all options currently available to the public. In designing the new product we undertook extensive consultation with our intermediaries and members of public to find out what they would want from a retirement plan. Overwhelmingly the response was that people want flexibility, security and a good choice of investments. The new MSV Retirement Plan is available to self-employed persons, professionals, employees as well as to groups and can be arranged on a non-contributory or contributory basis whereby part of the contributions are made by the employer on behalf of all or selected employees. ”
Mr Fairbairn added, “people now have the opportunity to start saving for retirement with confidence, knowing they can change the amount they save in the future or even stop for some time if necessary.”
Under the MSV Retirement Plan, MSV is also offering savers the chance to invest in both Unit Linked and With-profits Funds to provide the maximum choice and flexibility possible.
MSV Chief Executive, David G. Curmi stated “although the issue of Pension Reform in Malta continues to be debated, we feel very strongly that savers should not continue to defer saving for their retirement. The new MSV Retirement Plan is a very flexible long term savings product that can be easily adapted to include future incentives that may be introduced by Government aimed at encouraging voluntary retirement provision.”
For more details about the New Retirement Plan interested investors may contact MSV head office on freephone 8007- 2220 or email [email protected]. Enquiries may also be made at any branch of Bank of Valletta plc or other authorised intermediaries.