Retirement Funds
A ‘Retirement Fund’ is a company established for the principal purpose of holding and investing the contributions made to one or more retirement schemes and/or to one or more overseas retirement schemes. Its main purpose is to act as a pooling vehicle through which one or more retirement schemes may channel the investments of the contributions received by the respective schemes. It must invest contributions (received from retirement schemes) and all returns on such contributions in instruments and other assets, with the aim of maximising the return on such contributions. These investments must be in conformity with the investment restrictions and objectives of the retirement scheme.
A Retirement Fund, just like the Occupational Retirement Scheme, requires a licence to carry on the activity of a retirement fund in or from Malta.
The main characteristics of the funds are summarised below:
| Retirement Funds | |
| Legal Form | SICAV |
| Nature | N/A |
| Retirement Scheme Administrator | XX |
| Auditor | Required |
| Actuary | N/A |
| Investment Manager | Optional |
| Custodian | Optional |
| Investment Advisor | Optional |
| Back-Office
Administrator |
Optional |
| Introducer | N/A |
| Investment Management Function | Required (separation from custody function is mandatory) |
| Custody Function | Required (separation from investment management function is mandatory) |
| Investment Restrictions | Must comply with the investment restrictions of the Retirement Scheme and/or Overseas Retirement Scheme. |
