Consultation meeting with Banks’ Association on upcoming Third Pillar Pensions

The Minister for Finance Prof. Edward Scicluna met with representatives from the Malta Bankers’ Association (MBA) to discuss the upcoming Third Pillar Pension Incentive Scheme on Wednesday 30th April 2014.


The Pillar Pension Incentive Scheme, a scheme aimed at incentivising individuals to invest in private pension, is in its final stages and will be unveiled in the coming weeks.




During the consultative meeting, Minister Scicluna outlined the Government’s vision for the Third Pillar Pension Incentive Scheme in the interest of obtaining the perspective of operators in the banking sector.


He invited the Bankers’ Association to submit their feedback on the proposed scheme so as to ensure that the scheme is fashioned on the basis of wide-reaching and inclusive consultation with all stakeholders.


The Malta Bankers’ Association was represented by MBA Chairman and BOV CEO Mr. Charles Borg, HSBC CEO MBA board member Mr. Mark Watkinson, and MBA Secretary General Mr. James Bonello.


Further consultation meetings will be held with various stakeholders, including the Advisory Group on Pensions, the insurance industry, and other operators.


– Wednesday, 30th April, 2014


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