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MAPFRE MSV Life offers a choice of retirement solutions’ to both individuals and employers. All our solutions are flexible and can be individually tailored to meet the needs of both individuals and employers. Occupational pension schemes are long-term commitments. When you decide to arrange an occupational pension scheme for your employees you should ensure you select a provider that has the financial, operational and technical capacity to deliver long-term quality service and support.
Our Company, being part of the MAPFRE Group, is well positioned to effectively support employers and their employees by setting up their WorkSave Pension Scheme and administering such a scheme throughout their working life and into retirement.
​​WHAT IS A WORKPLACE PENSION SCHEME?
The MAPFRE MSV Life WorkSave Pension Scheme is a registered Qualifying Voluntary Occupational Pension Scheme and a linked long-term contract of insurance in terms of the Insurance Business Act, Cap 403. The Scheme is approved by the Commissioner of Tax and Customs as a Qualifying Scheme in accordance with the Law.
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WHY SET IT UP?
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To increase retention efforts
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To enhance your reputation and become an “employer of choice’
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To increase employee satisfaction
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To enable you to recruit and retain quality employees
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To allow flexibility to your employees over their savings
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To benefit from tax credits
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To take advantage of our easy set up and effortless administration
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WHAT ARE THE TAX BENEFITS FOR THE EMPLOYERS?
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Tax credit of 25% of every contribution that you pay on behalf of an employee, subject to a maximum tax credit of €750 per employee per annum, as per current legislation
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Contributions that you pay on behalf of an employee are tax deductible up to €2,000 per annum
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WHAT ARE THE TAX BENEFITS FOR THE EMPLOYEES?
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Tax credit of 25% of every contributions that the employee makes into the scheme, subject to a maximum tax credit of €750 per annum, as per current legislation
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At retirement, up to 30% of the retirement savings can be taken as a tax free lump sum
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No Capital Gains Tax on investment income whilst retirement savings accumulate
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No tax is paid if the retirement savings are received by beneficiaries as a death benefit
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INTERESTED TO FIND OUT MORE?
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Our dedicated Corporate team will guide you through the process
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We are here to assist you throughout your journey
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RISK WARNINGS:
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If you invest in this Product, you will not have access to your money before the retirement date.
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If you stop paying your plan before the selected retirement date, you may not get back as much as you invested as plan charges will continue to apply.
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The value of your investment may go down as well as up and you may get back less than you originally invested.
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Changes in currencies exchange rates may also affect the value of investments.