Last Updated on Tuesday, 21 November, 2023 at 6:26 pm by Andre Camilleri
APS Bank plc and the General Workers Union (GWU) have signed a Memorandum of Understanding (MOU) which extends to the GWU’s esteemed members the Bank’s suite of occupational and personal pension schemes.
The MOU, entered into as the Union commemorates its 80th anniversary, is the fruit of a collaborative effort between senior GWU officials and the APS Bank team led by Kenneth Genovese, Head of Investment Distribution. Over the past months Mr Genovese delivered presentations on the importance of voluntary pension schemes for the financial wellbeing of employees. His insights dwelt on financial education, shedding light on the benefits of retirement planning and the role these schemes play in achieving long-term financial security.
The agreement was signed by Noel McCarthy, Chief Investments Officer at APS Bank, Victor Carachi, President at GWU, Josef Bugeja, Secretary General at GWU and Kenneth Genovese.
Kenneth Genovese stated, “We are pleased to form this partnership with GWU, which is a first for Malta. This collaborative effort underscores GWU’s commitment to the financial security of workers and their dedication to helping individuals build a stable future.”
GWU Secretary General Josef Bugeja described this agreement as innovative and designed with a clear goal, that of providing workers with secure, sustainable and dignified retirement options. “We believe that this scheme reflects our union’s ethos – the promise to enhance the quality of life and the social protection of citizens throughout their lives.”
