Bank of Valletta, as a Tied Insurance Intermediary for MAPFRE MSV Life, has announced a limited-time incentive on new Unit-Linked Personal Pension Plans.

The Bank said that customers who start planning for their retirement and take up a new MAPFRE MSV Life Unit-Linked Personal Pension Plan from any BOV Branch or Investment Centre will receive a €175 one-time top-up to their plan.

Alexander Bezzina, Head of Insurance Services and Pensions at Bank of Valletta, explained that “pension plans can start with as little as €40 a month and contributions can be adjusted over time to give customers more flexibility and financial freedom. The return of this offer follows positive feedback received last year, which also highlights the growing awareness on the importance of preparing financially for the future”.

It was explained that the MAPFRE MSV Life Unit-Linked Personal Pension Plan allows investors to build a customised portfolio, selecting funds according to their personal risk preferences. Customers can switch between funds up to twice a year at no charge, and invest in up to ten different funds simultaneously, providing flexibility and control over their retirement planning.

The €175 top-up will be given 14 months after the date when the Unit-Linked Personal Pension Plan starts, provided that the equivalent of the first twelve consecutive monthly savings contributions would have been paid and allocated. The Bank explained that in addition, policyholders may also benefit from significant tax advantages.

Contributions may qualify for a 25% tax credit, capped at €750 annually, the Bank said. Upon retirement, customers may also withdraw up to 30% of their pension account tax-free when they start receiving their benefits. T&Cs apply.

This special offer is available until the 30th of September 2025, unless closed earlier by MAPFRE MSV Life. To find out more or set up an appointment, customers are encouraged to visit https://www.bov.com/assistants/set-an-appointment.

Further information on the plan may be obtained from the Key Features Document available from the website https://www.bov.com

Photo: BOV

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