HSBC Life Assurance Malta Ltd has launched the Employee Pension Plan, giving employers the opportunity to contribute towards the pension benefits of their employees. At the same time, employers can also benefit from tax concessions which apply to plans such as this that qualify in terms of the Voluntary Occupational Pension Scheme Rules.
The Employee Pension Plan will be available to corporate and commercial banking clients of HSBC Bank Malta and will offer a range of 26 international and local funds through managed portfolios, multi asset funds and geographic and asset classes. These funds have been carefully selected to provide a wide choice of investment opportunities that cater for people of various ages, risk preferences and for different market conditions.
Muriel Rutland, Chief Executive Officer at HSBC Life Assurance Malta Ltd, said: “The most valuable assets of any business are its people and providing for their financial wellbeing post-retirement can greatly enhance a company’s attractiveness as an employer while further strengthening the loyalty of existing employees. Following the successful launch of the pension scheme for HSBC Malta employees as a first in Malta’s private sector in 2018, HSBC Life Assurance and HSBC Malta are now extending this opportunity to our corporate and commercial clients to ensure we deliver a wide range of tailored solutions that meet their needs and the needs of all their employees.”
Joyce Grech, Head of Commercial Banking at HSBC Bank Malta said, “HSBC continues to leverage its expertise and international network to support Maltese companies. Success not only depends on entrepreneurship and innovation but also on ensuring companies are able to recruit and retain the best people. In this regard, the Employee Pension Plan is just the latest in a long series of products and services designed by the bank to help Maltese companies address today’s challenges.”
For further information HSBC commercial and corporate clients can contact their Relationship Manager.