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Malta's tighter pension rules to affect thousands of UK savers

Malta's tighter pension rules to affect thousands of UK savers

Malta is introducing tougher pension rules which stipulates that advisers must be regulated in the jurisdiction where their client is based, a move that will affect tens of thousands of British savers.

The new rules, due to come into effect on 1 July 2019 according to the Malta Financial Services Authority (MSFA), will impact the way in which pension trustees administer both new scheme applications and existing members on a number of levels. deVere Group estimates that in the UK alone, around 30,000 UK pensions have already transferred into a Malta-based Qualifying Recognised Overseas Pension Schemes (QROPS).

Please link to International Investment to read the full article by Pedro Goncalves

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