Are you eligible?
- an HSBC Bank Malta p.l.c customer
- between the ages of 18 and 60 years
- willing to save at least €60 monthly, €180 quarterly, €360 half-yearly or €720 annually.
Investment with potential
Our Retirement Pension Plan – Unit-Linked product is a Unit-Linked Life Assurance Plan that brings together a broad range of global investment opportunities under one roof.
The Retirement Pension Plan - Unit Linked is a long-term contract of insurance which accepts both regular and lump sum contributions. You can start benefiting from the plan not earlier than age 61 and not later than age 70, providing the Plan has been in force for at least 10 years.
Switch between funds to react to market developments.
Subject to eligibility, the Commissioner of Inland Revenue will issue you with a tax credit equal to 25% of your contribution up to a maximum of €750* or such other amount as may be prescribed from time to time. The tax credit, which will be issued by the Inland Revenue Department, can be applied by an automatic deduction to the total tax amount payable or may be sent in the form of a cheque, depending on your type of employment. If you have any queries about the payment of the tax credit you should speak directly to the Inland Revenue Department or your tax advisor.
You may commence a plan for your spouse/partner providing the tax credit eligibility criteria is met.
* This information has been prepared on our understanding of current legislation, tax laws and Inland Revenue practice at time of publication. The applicable laws and legislation may change in the future. Please consult your Tax Advisor for confirmation of tax benefits applicable to your circumstances. The 25% tax credit on a maximum contribution of €3,000 p.a. is for 2022 year of assessment.
How it works
If you’re not sure about investing or which level of risk is appropriate for you, please seek financial advice.
An HSBC Financial Adviser or your Premier Relationship Manager can walk you through the process of selecting the underlying HLM funds in a way that fits both your investment goals and the level of risk you are most comfortable with.
To find out about getting investment advice from HSBC, please visit our Wealth Management hub.
Book an appointment
To find out more about our retirement pension plans, book an appointment for investment advice with a member of our Wealth Management team.
This information is not to be construed as investment advice. The Plan invests in HLM Funds and offers no capital protection or guarantees of performance. The value of the investment can go down as well as up and capital is at risk. Past performance is not a guarantee for future performance. Currency fluctuations may affect the value of the investment.
The Plan is designed as a savings plan to supplement the State Pension on your retirement and please also note that if you invest in this product you will not have any access to your money until retirement age and then only within the age limits allowed by legislation.
It is important that you read this information in conjunction with the Brochure, Key Features Document, Policy Terms & Conditions, Proposal Form and the Policy Schedule. Full details of the risk factors that affect the underlying investments/funds are available in the Prospectus of the underlying investments/funds, a copy of which is available upon request and a Summary Risk Indicator is provided in the Key Information Document - Investment Option Information of the HLM Funds.
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Take a structured approach to achieving your financial goals by working with one of our dedicated financial advisers.
The Retirement Pension Plan - Unit Linked is manufactured by HSBC Life Assurance (Malta) Ltd. The Plan is distributed to investors in Malta through HSBC Bank Malta p.l.c.
Approved and issued by HSBC Bank Malta p.l.c, (116, Archbishop Street, Valletta VLT 1444). HSBC is a public limited company regulated by the Malta Financial Services Authority and licensed to carry out the business of banking in terms of the Banking Act (Cap.371 of the Laws of Malta). HSBC is licensed to conduct investment services in terms of the Investment Services Act (Cap.370. of the Laws of Malta) and is enrolled as a Tied Insurance Intermediary for HSBC Life Assurance (Malta) Ltd under the Insurance Distribution Act (Cap. 487 of the Laws of Malta).