INTERESTED IN A PRIVATE PENSION SCHEME?
SAVE FOR YOUR RETIREMENT
WITH A LIFETIME PRIVATE PENSION SCHEME
Interested in applying for a pension scheme?
Contact us today by filling the provided contact form.
WHAT ARE PRIVATE PENSIONS?
A private pension is a scheme into which an individual can place contributions from their earnings, which will compound year after year, eventually paying out in the form of a tax free lump sum and regular income.It is held separately from your government pension, which you contribute to through your national insurance contributions. A private pension is a tax efficient way to save and prepare for your future.
Private pensions offer greater flexibility, and often have added security when compared to government pensions. You have the ability to start taking your private pension at the age of 50, and your pension pot has the potential to be considerably larger, as you can choose the amount you pay in each month.
WHY SHOULD I CONSIDER A LIFETIME PRIVATE PENSION?
Take a 30% tax free lump sum on retirement
You can commence taking your Lifetime Private Pension at the age of 50, with a tax free drawdown worth 30% of your pension pot’s value. This ensures you will have a steady income for the rest of your retirement, whilst enjoying a lump sum to spend on a well deserved reward for yourself.
The earlier you start, the bigger the benefits
The earlier you start adding to your Lifetime Private Pension, the greater the rewards due to the compounding interest. By starting your Lifetime Private Pension at the age of 18, you could potentially yield double the amount in your pension pot, with smaller contributions, compared to someone who starts at 30.
Ability to pass on pensions to loved ones upon death
Should the worst happen, you can pass on your Lifetime Private Pension to your loved ones, helping ease the cost of living, as well as lifting the burden and worries of financial security.
Tax credit of €500 per year, or the equivalent to 25% of contributions made
With a Lifetime Private Pension, you can enjoy up to €500 per year tax credit. You can also benefit from this when making contributions on behalf of your spouse.
Full Scheme Details
To learn more about the scheme, download the full document below.
WHO IS CCGM?
CCGM is a joint venture between Calamatta Cuschieri Group plc and GasanMamo Insurance Ltd, both leaders in their respective field of financial services in Malta. CCGM is a Retirement Scheme Administrator and is licensed by the MFSA to provide services under the Retirement Pensions Act 2011.HOW DO I APPLY?
To apply for a Lifetime Private Pension, you can book an appointment by filling the above contact form.
MORE INFO / FAQs
What Happens If I Change My Mind?
Once your application form has been accepted, you have 30 days from the scheme issue date to cancel the application, and obtain a refund for the contributions you have made. If you cancel the scheme during this period, you will not be liable to any charges imposed by us. However, any adverse market movements could affect the value of investments, and shall be at your own risk. A request to cancel must be received in writing.What Happens If I Need My Money Early?
The Lifetime Private Pension Scheme is a long term savings scheme, therefore you should only commit to it when you are confident you can live without the money you are going to contribute until retirement age is reached.How Often Do I Need To Contribute?
You can contribute on a regular basis; this being monthly, quarterly, semi-annually or annually, as well as having the option to make additional one off top ups anytime you have some surplus cash you wish to contribute to the scheme. You also have the option to automatically contribute the maximum allowance eligible for a tax rebate every year.
CCGM Pension Administrators Ltd. (CCGM) is licensed to act as a Retirement Scheme Administrator and is authorised by the
MFSA. CCGM is a joint venture between Calamatta Cuschieri Group plc and GasanMamo Insurance Ltd.
We strongly advise that you read the Lifetime Private Pension Scheme Particulars together with the Terms and Conditions issued by CCGM. Tax legislation and the amount of rebates you may receive in the future is subject to change and is not guaranteed.
Copyright © Calamatta Cuschieri Gasam Mamo - CCGM 2024. All rights reserved.