Last Updated on Friday, 12 July, 2024 at 10:59 am by Andre Camilleri
Bank of Valletta is pleased to announce a special limited-time offer on unit-linked personal pension plans in collaboration with MAPFRE MSV Life. Bank customers who sign up for a new MAPFRE MSV Life Unit-Linked Personal Pension Plan from any one of the Bank’s outlets will receive a one-time top-up of €175 when the pension plan is set up and the first premium is paid.
The extremely positive response that the Bank received last year to a similar offer prompted the renewal of this incentive, as customers continue to embrace the importance of planning ahead for a more comfortable retirement.
Mr Alexander Bezzina, Head of the Bank’s Insurance Services and Pensions arm highlighted the benefits of the pension plan and the attractive offer. “We are pleased to launch this attractive offer together with MAPFRE MSV Life. The MAPFRE MSV Life Unit-Linked Personal Pension Plan is designed for flexibility and adaptability, allowing policyholders to start with contributions as low as €40 per month, adjusting their contributions upwards depending on their financial capabilities.
The plan’s value is linked to a variety of funds chosen by the policyholder based on their risk appetite, with the ability to switch funds twice a year at no cost. Policyholders can invest in up to ten funds simultaneously. These features offer access to a wide range of funds tailored to different risk profiles, making it an ideal solution for retirement planning by giving customers the options that truly match their preferences. The special offer also makes it more financially rewarding, with a top-up that adds value to the plan.”
The MAPFRE MSV Life Unit-Linked Personal Pension Plan provides essential long-term savings with additional tax benefits. Policyholders may be eligible for a tax credit of 25% on contributions, up to a maximum of €750 annually. In addition, policyholders may opt to receive up to 30% of the retirement account, tax-free at the time they start receiving the Retirement Benefits. This offer is valid until the 30th of September 2024. This is a limited-time offer and MAPFRE MSV Life reserves the right to close this offer earlier.
Further information about this limited-time offer may be obtained from MAPFRE MSV Life Unit-Linked Personal Pension Plan (bov.com). To schedule an appointment at a BOV branch or Investment Centre, customers can visit the Bank’s website on https://www.bov.com/assistants/set-an-appointment, send an email to bancassurance@bov.com or call 2275 1627.
