Planning for your future
Bank of Valletta, a tied insurance intermediary for MAPFRE MSV Life, is offering its customers a suite of affordable pension plans aimed at supplementing the state pension and providing the required financial stability at retirement stage. The Personal Pension Plans are medium- to long-term savings plans particularly suited for employees, self-employed, professionals and employers. The plans start from €40 per month, or €1.33 per day, and one can choose to save the amount they want per month, the age when benefits become available, when to increase or decrease the monthly savings amount and when to stop and restart the plan should circumstances change. The younger one starts to plan for this major milestone in life, the more wealth may be amassed up to retirement. In fact, anyone from the ages of 18 to 59 can embark on these plans. Furthermore, these pension plans qualify for tax incentives and, therefore, one can be eligible for a tax credit of 25 per cent up to the maximum set by the government. Under current legislation, one can enjoy a tax credit of up to €750 per annum. “We all work very hard throughout our life to secure our future and that of our respective families. The...