INCENTIVES FOR EMPLOYERS TO INVEST IN PRIVATE PENSIONS

Reference Number: PR172002, Press Release Issue Date: Sep 07, 2017
 
​Minister for Finance Edward Scicluna launched a number of fiscal incentives aimed at employers and their employees to take up voluntary private pensions. These incentives were announced in this year’s budget.
 
Minister Scicluna explained the benefits reaped by employers when they introduce such incentives for their employees. Employers will be in a position to retain their best talent within their organisations, offer better working conditions, and strenghten their position as ideal employers.
 
While benefitting from tax credits, employers who introduce such schemes will be showing their committment in the future well-being of their employees. The tax credit being given to employers is capped at €150 per annum per employee.
 
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For the employees, the investment made by their employers on their behalf will not be considered as a fringe benefit and will therefore be tax exempt. Employees are also being given the opportunity of investing their own funds in such schemes, whereby any such investment up to €1,000 per annum will carry a tax credit of €150.
 
Minister Scicluna concluded by saying that fiscal incentives for voluntary private pension schemes are another boost to income during retirement. The recent issue of the 62+ Government Savings Bond had the same objective. These investments will augment the annual income of pensioners during their retirement.

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Inċentivi għal min iħaddem biex iwaqqfu pensjonijiet privati
 
Il-Ministru għall-Finanzi Edward Scicluna nieda numru ta’ inċentivi fiskali mmirati għal min iħaddem u l-impjegati tagħhom sabiex jidħlu fi skemi ta’ pensjonijiet privati volontarji. L-inċentivi huma fost il-miżuri mħabbrin fil-Budget għal din is-sena.
 
Il-Ministru Scicluna enfasizza li meta min iħaddem joffri skemi bħal dawn għall-impjegati tiegħu jkun qed jattira u jżomm miegħu l-aħjar talent. Ikun ukoll f’pożizzjoni li joffri kundizzjonijiet ta’ xogħol aħjar lill-ħaddiema tiegħu filwaqt li jsaħħaħ il-pożizzjoni tiegħu bħala employer ideali.
 
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Il-ħolqien ta’ skemi bħal dawn ikunu minnhom infushom qegħdin jirriflettu impenn minn min iħaddem sabiex jagħmel investiment fit-tul fil-ħaddiema tiegħu. Min-naħa tagħhom, il-ħaddiema wkoll se jkunu qegħdin jingħataw inċentiv fiskali.
 
L-investiment totali li tagħmel kumpanija f’isem l-impjegati tagħha se jkun ikkunsidrat bħala kreditu ta’ massimu  ta’ taxxa ta’ €150 fuq kull impjegat fis-sena.
 
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Fir-rigward tal-impjegat, l-investiment li jsir f’ismu mhux se jkun ikkunsidrat bħala fringe benefit u allura ma jħallasx taxxa fuqu. L-impjegat se jingħata wkoll l-opportunità li jinvesti fl-iskema u jekk jagħmel hekk jingħata tnaqqis mit-taxxa sa massimu ta’ €150 fis-sena.
 
Il-Ministru Scicluna temm jgħid li l-inċentivi  fiskali għal skemi ta’ pensjonijiet privati volontarji huma salvagward ieħor flimkien ma’ miżuri oħrajn bħal żidiet fil-pensjonijiet u fil-ħruġ ta’ bonds speċifiċi  għal min għandu 62 sena u aktar, maħruġin aktar kmieni din il-ġimgħa. Dawn se jkomplu jgħinu biex il-pensjonant ikollu ħajja aktar komda tul l-irtirar tiegħu.