Thanks to the scheme, Maltese igaming companies can offer added incentives to existing employees but also provide them with a unique selling point when recruiting the sector’s most experienced workers.
Managing director at STM Malta Pension Services Limited, Deborah Schembri, says the scheme offers a simple and cost-effective solution to businesses. It’s one that can be tailored to each company and its employees regardless of whether the business is large or small.
Schembri said: “The advantages local businesses can gain from our new pension product extend far beyond simply helping their employees to achieve their financial goals in retirement.
"It’s also a valuable recruitment tool to attract and retain the best people in a very competitive jobs market, plus it’s an excellent way to improve staff engagement, motivation and productivity. For employees it offers a value for money investment with the costs of administration supported by their employer.
The scheme also allows firms to offer a corporate tax incentive and a personal tax credit to employees. The scheme is seen as a compounding investment based in a jurisdiction with no tax growth.
It is established under a master trust for multiple employers and licensed by the Malta Financial Authority (MFSA).
