STM Group unveils first ‘contract-based’ Malta ROPS
STM Group plc, the Gibraltar-based, AIM-listed financial services product provider, said it has now seen its new, first-ever “contract-based” Malta ROPS listed by HM Revenue & Customs.
The new STM Malta Pension Contract Plan, as it’s called, was created in response to feedback from intermediaries based in certain civil law countries, whose clients were less comfortable with traditional trust-based pension products, STM said in announcing the new ROPS.
Like other STM ROPS, the contract plan is being offered until 31 Oct at a £0 establishment fee, a £750 annual trustee fee, and no additional fees, STM said.
The recent introduction of establishment-fee-free charges has boosted take-up of other STM products, according to STM Group head of distribution Iain Farr, pictured.