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Retirement pension plan

Invest in your future with a wide-ranging pension savings plan

When we retire we all look forward to enjoying a level of financial security that allows us to maintain our current lifestyle and care for our loved ones. However, it's likely that your state pension might not provide enough for that. That's why having a separate pension plan and putting some money aside regularly is a good idea.

Our Retirement Pension Plan - Unit Linked is a personal savings policy designed to supplement the State Pension on Your retirement.

It is a long term contract of insurance which accepts both regular and lump sum contributions which is recognised by the Commissioner for Inland Revenue as a Qualifying Pension Scheme under the Personal Retirement Scheme Rules (S.L. 123.163). Contributions may be eligible for tax credits if you meet the relevant tax eligibility criteria.

The aim of the plan is to build up a sum of money which will be used to provide a regular income during Your retirement (‘Programmed Withdrawals’), to supplement the State Pension. Subject to applicable regulations, a lump sum up to 30% of the plan value may be taken out, which lump sum is exempt from tax in Malta.

Are you eligible?

You can take out a Retirement Pension Plan - Unit Linked if you are:

  • 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.
  • Flexible contributions
    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.
  • Adaptable
    Switch between funds to react to market developments.
  • Cost effective
    Grow your savings by indirectly investing in global and local financial markets at a manageable cost. For all information relating to cost and charges, please read the Key Features Document (PDF, 291Kb) and the HLM Funds Key Information documents.
  • Tax efficient
    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.
  • Family friendly
    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.

Important documents

Further details can be found in the Retirement Pension Plan - Unit-Linked - Brochure (PDF, 1.3Mb).

For all information relating to cost and charges, please read the Retirement Pension Plan - Key Features Document (PDF, 152Kb),the Key Information documents and the HLM Fund Fact Sheets.

Risk Warnings

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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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).

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