The Voluntary Occupational Retirement Pension Scheme (VORPS) is a strategic Human resources retention tool that is primarily aimed at retaining employees thus lessening the associated costs of recruiting and training new employees.

As an attraction, VORPS offers tax rebates to both the employer and employee who enrolls in it. It also includes flexible features for the employee for example, a temporary pause of the monthly instalments due to unexpected expenses that take priority.

Since it has been statistically proven that Malta is experiencing full employment, thus employees can easily move from one employment to another, it would be worth it for companies to invest in this scheme as besides the financial benefits that the scheme offers, they would also be retaining their well-trained staff.

Employees on the other hand would be benefitting by having tax rebates, whilst at the same time investing in their future pension.

For more information, one may wish to contact MFSA email address on

ĠEMMA advises always to seek professional advice to ensure that this is the most suitable product. Prospective clients that wish to find out which entities offer VORPS, it is recommended that they contact an insurance/pension provider or financial advisor. The attached link to the Finanicial Services Register available on the MFSA website provides details of firms licensed and regulated by the MFSA. This includes local life insurance companies and Retirement Scheme Administrators in Malta, some of whom would manufacture and distribute VORPS.