12 - 18 April 2001

Middle Sea introduces new retirement plan

Middle Sea Valletta Life Assurance Company Limited have launched a new retirement plan aimed at allowing the customer to chose the underlying investment funds.
Middle Sea Valletta chief executive officer Mario Grech said Middle Sea Life Assurance Ltd was Malta’s first specialist life assurance company and was committed to expanding its product range for the benefit of its customers through the MSV Retirement Plan.
“The company’s retirement specialists and investment professionals, with the cooperation of Valletta Fund Management, a subsidiary of Bank of Valletta, and US company Fidelity Investments have created a new product which is the first of its kind in Malta,” he said.
He said the retirement plan is aimed to help those customers seeking to arrange personal retirement plans. He said the new plan is another way of looking at pensions.
The plan is linked to over 60 different investment fund options through Fidelity Funds SICAV, La Vallette Funds SICAV, Wignacourt Funds SICAV and Rothschild Asset Management.
The minimum premium of the MSV retirement plan is Lm150 annually which can be effected through Lm20 monthly installments. The scheme is available to all over 18 years of age. The minimum term for benefits derived from this plan is 10 years.
The retirement plan is available from Middle Sea Valletta offices, all Bank of Valletta branches, licensed sub-agents and all financial intermediaries licensed by MFSC.