Fund, corporate and fiduciary services provider JTC has launched an international pension service through its operation in Malta, aimed at supporting UK expatriates globally.
Having been formally licenced as a Retirement Scheme Administrator (RSA) by the Malta Financial Services Authority (MFSA), JTC has launched the first of its pension schemes, called Gemstone.
Gemstone has also had the necessary acknowledgement required from HMRC in order to operate as a Recognised Overseas Pension Scheme (ROPS).
Through Gemstone, expatriates will be able to benefit from increased efficiency, more flexibility in their pension planning, and greater freedom to access global investment and growth opportunities.
Nadine Cachia (pictured), managing director of JTC Malta, says: “In the modern working environment, more and more UK residents are starting new lives overseas and they will understandably want to ensure they can keep a sensible pension plan in place. We are delighted that the MFSA has granted us this licence to enable us to offer this fully-fledged ROPS facility.
“Malta is a natural fit for the Gemstrone product, given its robust, stable and secure regulatory and legislative framework and broad financial services expertise all within an EU environment, and this should give investors, and their advisers, real comfort.”
JTC established a presence in Malta in 2014 in order to widen its geographical reach and strengthen its presence within Europe. Malta is considered a major financial hub in the Mediterranean region offering access to European markets and a convenient gateway to North Africa.
Stuart Pinnington, group head of institutional services, adds: “The launch of Gemstone through our Malta operation reinforces our commitment to providing our global client base with a truly holistic offering spanning the private client and institutional arenas. It also underlines our commitment to Malta as a financial hub, following our being approved to provide a range of fiduciary services from the jurisdiction last year and being registered as a Company Service Provider by the MSFA in 2014.”