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Calamatta Cuschieri is the largest financial services company in Malta. The company pioneered the Maltese financial services industry in 1972 and operates under a Category 3 licence that is regulated by the Malta Financial Services Authority.
Client’s funds are held separately from the company’s assets at all times and are recognised as client funds.
Client’s Assets are kept in safe custody and recognised as client assets.
Calamatta Cuschieri forms part of the Investors Compensation Scheme whilst client funds are held mainly with Major Banks that are covered by the Depositor Compensation Scheme all of which recognise that funds are client funds.
Our firm has been in operation since 1972. See our history section for more information.
At present our offices are located in B’Kara, Valletta, Sliema, Fgura, Qormi and Mosta. See more information in the contact us section.
Our opening hours are as follows:
Should you wish to make an appointment at times that do not fall within these hours please contact us beforehand. We can also arrange for home visits around Malta.
All our offices are wheelchair accessible; we are also committed to provide a home visit service at no extra cost. You may contact us to setup an appointment at any time.
There is no minimum amount required to open an account with us.
There is no specific minimum amount of money that an investor can invest as this depends on the investment concerned. For more information please contact one of our Financial Advisors.
You can choose to receive this directly into your account with us or your personal bank account as well as via cheque. You can also request for interest cheques to be collected by yourselves from one of our offices.
A complete list of our bank details for transfers into our client accounts are on the bank transfers page. Clients making Euro transfers from HSBC Malta or BOV can also use the preset drop down list available ot them online and select Calamatta Cuschieri.
Our clients receive a portfolio valuation and statement every 12 months; however they can also request additonal statements or register to our online platform CC WebTrader to view their account in realtime at no extra cost.
Our clients can open an account in any currency they wish. By default we open 3 currency accounts, Euro, US Dollar and the British Pound (GBP). Other currencies can be opened upon request at no extra charge.
No, you do not need to book an appointment to visit us, however we do advise our clients to call before hand if they would like to visit a specific advisor at a specific time.
If you need to create a new account, click here and if you are an existing client, click here. Contact our support desk if you would like guidance throughout the process.
All our advisors are highly qualified Independant Financial Advisors who are approved by the MFSA. They are not tied to any particular investment or product; they create tailor made investment portfolios according to client needs and can offer advice on a wide range of investments.
Whilst an IFA is not tied to any particular product, tied agents can only advise on a specific group of products, for example Funds. For more information click here.
Definitely not, at Calamatta Cuschieri we have always believed that Investment Advisors should not be under any sort of pressure when offering our clients investment advice.
We believe in putting our clients first and always acting in their best interest.
You can find information on bonds in the education section. We have been investing in Bonds since 1972 and can help you build a bond portfolio that meets your investment objectives.
This will all depend on what your investment goals are since there are thousands of funds available. Our Investment Advisors can help you help you choose the right fund to suit your needs.
Yes, we offer a vast range of capital guaranteed products; please ask one of our advisors for more information about how these products work and if they are suitable for you. Also see the education section for more information.
Yes, we also offer a wide range of investments that invest in property such as Funds or ETFs. Our research team reviews the market regularly in order to ascertain that our clients are investing in the best available instruments on the market and that these fall in line with their investment objectives.
Our advisors can help you understand the risks associated with different types of investments. You can also find information in the education section.
Fees vary according to the Investment. We are committed to offering a transparent and simple fee structure. For more information you can view our offline rates.
No, we do not charge our clients an annual fee for investments they hold with us. We are also committed to a low cost and transparent fee structure.
Yes, we also offer our services to International clients.
A W-8BEN form is used by investors who wish to invest in US domiciled instruments (such as most shares on the US Stock Exchanges) and want to benefit from the double taxation agreement that is available in many countries. For most European countries the Tax Treaty is 15% as opposed to 30% in Non Tax Treaty countries. It is important to update your W-8BEN Form every 3 years, this is available here.
One can also download the W-8BEN Form Sample Guide by clicking here.
We do not charge any fees for W-8BEN Processing.
No we do not charge any fees for corporate actions on any shares.
You should consider buying a life insurance cover because it ensures the peace of mind that you, your family and/or business require to replace the earnings that would cease at the death of the insured.
Life Insurance plans vary depending on your individual circumstances. The best way to determine which policy is the most appropriate to your needs is to talk to one of our specialised Financial Advisors who will be able to guide you accordingly.
A term life insurance policy ensures that your life is covered for a required amount for the duration of the policy.
The benefit of this plan is that upon the death of the life insured, a lump sum amount is paid. This will be greatly beneficial to pay potential estate expenses & taxes, continue to maintain the lifestyle and various needs family – such as education and wellbeing of your children, whilst protecting the quality of life of your family/dependents even if you are not around.
For businesses, term life insurance is a way to protect key employees and the business itself to ensure the continued smooth running by leaving a financial legacy in the case that they pass away.
Our advisors will be happy to guide you on the various options under this scheme which include the Whole of Life Plan, the Guaranteed Over 50′s Protection, the Funeral Expenses Plan, and the Free Life Insurance for New Parents and Newly Weds.
The main benefit of reducing term life insurance policies is to protect against customers who have any outstanding debit especially for those customers wishing to purchase a home or other loans / facilities.
Additionally we offer life insurance that is suitable to cater for businesses to ensure key individuals critical.
The amount of life insurance required varies from person to person and depends greatly on an individual’s financial circumstances. As a principle, the very minimum amount of life insurance you should hold should always cover any outstanding debt including your home loans and other loans which would need to be settled if one passes away.
Additionally protecting one’s lifestyle, family priorities (such as education) and leaving a financial legacy are important considerations to reflect on before you take a decision.
The best way to determine the most appropriate insurance requirements suited to your needs is to talk to one of our specialised Financial Advisors who will be able to guide you accordingly.
Yes you can especially if you are looking for a safe and stable investment option.
If you have a lump sum of money to invest and are looking for an alternative to traditional bank accounts and term deposits, the Single Premium Plan invests in the With Profits Fund, providing a tax efficient, steady but conservative return over the medium to long term.
The short answer is as soon as you can. The earlier one starts saving, the more time your interest works.
Let’s consider two savers: Saver A and Saver B
From the age of 25, Saver A puts € 2,000 per year into CC Momentum savings plan for 10 years until he is 35. At 35 he stops putting new money into his savings and lets his savings work alone.
Saver A then leaves his savings grow until he reaches 65. He earns an average annual return of 8% and when he looks at his account 30 years later, he has €314,870.
Saver B, does not save anything until he is 35, at 35 he starts saving €2,000 per year. He keeps this up for the next 30 years until he reaches 65.
Saver B earns an average annual return of 8%, too but he ends up with € 244,691 at the age of 65.
Yet Saver A is now worth 28% more than the Saver B even though Saver A only invested 1/3of the amount and time.
Saving in the early years does count and although initially the amount might seem minuscule, the effects are seen in the later years. Starting to set something aside at an early age will give your savings time to grow and produce a compound interest multiplier effect that will help you in the later years.
The CC Momentum savings plan is designed to be flexible and to suit all purposes such as:
The CC Momentum™ savings plan is a reliable and tax efficient way of compounding interest over time.
The minimum amount is €40.
No, there is no maximum amount.
Yes, you can pause and resume the savings plan. During the first 2 years, you can pause the savings plan for 3 months each year.
You can stop the savings plan after a period of two years without incurring any fee. If you would like to stop the savings plan within the first two years a 2% fee will apply. However during this 2 year period, you can pause the savings plan for a duration of 3 months each year.
Another feature of the savings plan is that it benefits from the effects of compound interest over a period of time.
Click on the following article to get a better idea of how this works
Article from BBC
No, it is not typical for savings plans to be guaranteed. The reason is that it would be virtually impossible to guarantee capital whilst aiming to beat inflation and working towards optimising the sum you will accumulate after a period of time. Typically in today’s market conditions, capital guaranteed products simply return the capital invested after a specified period of time and serve the purpose of conserving rather than growing capital. They therefore work inefficiently for the purpose of growing savings.
The CC Momentum savings plan however has a number of features that serve to protect the capital invested.
The CC Momentum Savings Plan invests savings on a monthly basis into Bonds and Blue Chip Equities. The savings plan allows you to choose one of the following strategies.
The bonds portion of your savings plan goes towards the CC High Income Bond Fund Euro. The CC High Income Bond Fund aims to maximise the total level of return for investors through investment in a diversified portfolio of over 60 bonds.
The equity portion of your savings goes towards the CC Euro Equity Fund which aims to achieve a higher level of return for investors by investing, mainly, in a diversified portfolio of over 25 blue-chip equities trading on major European markets. European Blue Chip companies are Europe’s top companies that are known to weather downturns and operate profitably in the face of adverse economic conditions, which helps to contribute to their long record of stable and reliable growth. You can refer to ‘Our Funds’ on our website for further information.
The bond fund’s last distributions were 5% (USD and Euro) and although this may change, our Investment Managers aim to maximise return according to current interest rates. The CC High Income Fund is amongst the top performing funds of its type. The fund has also enjoyed an increase in capital since launch.
The equity fund invests in blue chips which historically (using data that dates back to the 1970’s) have outperformed bonds over medium to long term periods. Theoretically, in the long term the equity portion of savings should outperform the bonds portion however there is no way to predict if this will happen and by how much.
Bonds can be viewed as slow and steady approach whilst blue chip equities give a better opportunity for growth but also deal with more volatility. This is why, regardless of the strategy you choose, it is a good idea to have a mix of both.
There is no ‘best’ strategy to choose.
Whilst the dynamic strategy has a better potential for long term growth (historically blue chip equities have performed well) the conservative approach takes a slow and steady approach by investing mainly in bonds whilst still providing a steady income. One could consider the balanced approach which balances between both these strategies equally.
There is no cost for opening or maintaining a CC Momentum™ Account.
No there is no cost associated for setting up, or maintaining your direct debit. The related bank charge is absorbed by Calamatta Cuschieri.
The fee is 1.5% and therefore on 40 Euros, the fee would be 60c. The CC Momentum™ has been specifically designed to provide savers with a flexible and cost effective way of saving for their future.
You can either visit one of our offices in Dun Karm Street, B’Kara, South Street, Valletta, Victory Street, Qormi, Tower Road, Sliema, Hompesch Road, Fgura or Fortress Street, Mosta.
Alternatively you can choose to apply directly online.
The Lifetime Private Pension Scheme is a long term savings scheme designed specifically to help you save for your retirement,
with the goal to build up a pot of money to be invested that will provide you with an income throughout your retirement, it will also provide you with a tax free lump sum (up to 30% of the fund value) to be taken upon retirement and provide a residual lump sum to your loved ones should you pass away before or during retirement.
The Lifetime Private Pension Scheme is available to anyone who is tax resident and/or domiciled in Malta and aged between 18 and 65. You can also start a plan on behalf of your spouse as long as the requirements for the tax credits are met.
You can contribute on a regular basis this being, monthly, quarterly, semi-annually or annually as well as having the option to make additional one off top ups anytime you have some surplus cash you wish to contribute to the scheme. You also have the option to automatically contribute the maximum allowance eligible for a tax rebate every year.
You can stop your contributions anytime you wish and your plan will continue to be invested.
Yes, you may restart contributions at any point during your lifetime as long as you are aged between 18 and 65.
At the time you go ahead and take that well deserved retirement, you will have the option (under current legislation) to take up to 30% of the fund value as a tax free cash lump sum, and use the remaining fund to provide yourself with an income for life. The value of your retirement fund will depend on the amount of contributions you make and how long your contributions are invested for along with any charges and any taxes payable.
Monthly payments will be distributed upon retirement, which will be subject to income tax under current legislation at your marginal rate. The value of these payments will depend on the amount that you contribute during your working life, and the performance of the underlying assets throughout the life of your pension scheme.
The above will depend on rules at the time of your retirement and will be subject to the rates available at that time.
There are no limits to the amount you can contribute, however you must carefully plan and be sure that any contributions you agree to making are affordable now and for the foreseeable future. The maximum contribution eligible for a tax rebate is currently €2,000 per annum. We recommend you only contribute the maximum allowance per annum to take advantage of the tax rebate. If you are looking to save more than this amount per annum, we recommend you discuss your financial planning options with a financial advisor authorised to provide financial advice. The minimum contributions are as follows:
Under current legislation you can commence retirement between the age of 50 and no later than 75.
Your contributions will be invested in a range of mutual funds based on recommendations given by the investment manager. You will be required to complete a simple questionnaire in order to determine which investment strategy you would like to proceed with. Having the option of 3 different strategies, these being, Conservative, Balanced or an Aggressive approach. Each strategy applies a different asset allocation to match your risk profile and rebalances yearly according to your age with the aim to maximize the return of your savings over the long term. The yearly rebalancing also shifts to a less volatile asset allocation to avoid any unwanted movements before declaring retirement.
The asset allocation of each strategy is revised at least annually on the recommendations set by the investment manager. The range of mutual fund providers used in our asset allocations include highly reputable fund houses. The funds used within the scheme are expected to change periodically.
The Lifetime Private Pension Scheme is a long term savings scheme, therefore you should only commit to it when you are confident you can live without the money you are going to contribute until retirement age is reached.
To make regular contributions for the duration of the Scheme, to keep the contributions invested until you choose to retire, to invest for the long term and to review your contributions on a regular basis then increase or decrease your regular contributions as necessary to suit your current needs and situation.
Yes, you can transfer your pension pot in to schemes of other providers. This is subject to the other scheme being a registered and qualified scheme. Transfer charges apply if you transfer your scheme in the first 10 years.
If you die before you retire, the value of your scheme will be passed on to your beneficiary.
We will provide you with an annual statement. In addition to this we recommend you have regular reviews with your financial adviser.
One main advantage of choosing to join Lifetime is that CCGM is a sister company of Calamatta Cuschieri Investment Management Ltd. (CCIM) a leading Investment Management company and a fully owned subsidiary of the Calamatta Cuschieri Group.
You can rest assured that your pension is being managed by an experienced investment manager with over 40 years’ experience. Today the CC Group manage over €1 Billion of assets for over 15,000 active savers. CCIM provide investment management to a wide range of clients, both locally and internationally that include Investment funds, Pension funds, High Net Worth individuals and Insurance companies. CCIM is licensed by the Malta Financial Services Authority.
You may claim a tax rebate against your contributions if you are both:
Once your Application Form has been accepted, you have 30 days from the scheme issue date to cancel the application and obtain a refund of your contributions you have made. If you cancel the scheme during this period, you will not be liable to any charges imposed by us. However, any adverse market movement in the value of the investments shall be at your risk. A request to cancel must be received in writing.
Financial Advice – This document is not designed to offer financial advice and therefore should not be used with regards to making a decision about your retirement planning. We suggest you always refer to a financial adviser before planning any form of investment.
This document has been produced on our understanding of current legislation and tax laws, which may be subject to change in the future.
Any word, expression or amount to which a specific meaning or significance has been attached in any part of this Key Features Document shall bear such specific meaning or significance wherever it may appear.
The Lifetime Occupational Pension Scheme is a long-term savings scheme setup by your employer. It is designed specifically to help you save for your retirement, with the goal to build up a pot of money to be invested that will provide you with an income throughout your retirement. It will also provide you with a tax-free lump sum (up to 30% of the fund value) to be taken upon retirement and provide a residual lump sum to your loved ones should you pass away before or during retirement.
The Lifetime Occupational Pension Scheme is available to anyone who is tax resident in Malta aged between 18 and 65.
You can contribute on a regular basis this being, monthly, quarterly, semi-annually or annually as well as having the option to make additional one off top ups anytime you have some surplus income you wish to contribute to the scheme. You also have the option to automatically increase your contributions in line with the maximum allowance eligible for tax credits every year.
You can stop your contributions anytime you wish and your pension will continue to be invested.
You can ask your employer for the pension to be transferred into your own name, and then moved into our private pension scheme. Alternatively, if your new employer agrees to continue to contribute towards your pension, you can move the pension from your previous employer’s pot into our generic pension pot within the Lifetime occupational scheme.
Yes, you can have more than one scheme however; you will only receive tax credits on the maximum contribution available by law. This includes both private and occupational schemes.
The contributions paid by your employer go into a pension pot reserved for you, which are added to any contributions you make towards the scheme yourself. Your contributions are paid directly via your hr/payroll department.
Occupational pensions are portable within the European Union; this means that you can choose to transfer your existing pension to a provider in another EU jurisdiction when you decide to emigrate. For countries outside the European Union, there is no option to transfer your pension and therefore, your pension would be transferred to the Lifetime Private Pension Scheme where it would remain until your selected retirement age. Upon retirement, your pension income will be paid from Malta. If the country you are residing in has a suitable DTA (Double Tax Agreement) with Malta your pension income will be paid tax free in Malta, and you would pay tax on the income in your country of tax residence. Malta now holds double tax treaties with almost 70 different countries.
At the time you go ahead and take that well deserved retirement, you will have the option (under current legislation) to take up to 30% of the fund value as a tax free lump sum, and use the remaining funds to provide yourself with an income for life (based on average life expectancies at the time). The value of your pension will depend on; the amount of contributions you make and how long your contributions are invested for, along with any charges and any taxes payable.
Monthly, quarterly or annual payments will be distributed upon retirement, which will be subject to income tax under current legislation at your marginal rate. The value of these payments will depend on the amount that you contribute during your working life, and the performance of the underlying assets throughout the life of your pension scheme. This will depend on rules at the time of your retirement and will be subject to the rates available at that time.
There are no limits to the amount you can contribute, however you must carefully plan and be sure that any contributions you agree to making are affordable now and for the foreseeable future. The maximum contribution eligible for a tax rebate is currently €2,000 per annum on top of your employer’s contribution. The minimum personal contributions eligible for tax relief are as follows in 2019:
We will provide you with an annual statement.
The Lifetime Occupational Scheme is a long-term savings scheme, therefore you should only commit to it when you are confident you can live without the money you are going to contribute until retirement age is reached.
Yes, you can transfer your pension pot into schemes of other providers. This is subject to the other scheme being a registered and qualified scheme. A transfer charge of €100 will apply if you transfer your scheme in the first 10 years.
If you die before you retire, the value of your pension will be passed onto your beneficiary.
One main advantage of choosing Lifetime Pensions is that CCGM is a sister company of Calamatta Cuschieri Investment Management Ltd. (CCIM) a leading Investment Management company and a fully owned subsidiary of the Calamatta Cuschieri Group. You can rest assured that your pension is being managed by an experienced investment manager with over 40 years’ experience. Today the CC Group manage over €1 Billion of assets for over 15,000 active savers. Calamatta Cuschieri Investment Management Ltd provide investment management to a wide range of clients, both locally and internationally that include Investment funds, Pension Funds, High Net Worth Individuals and Insurance Companies.
Any information provided about taxation is based on our understanding of current law and legislation. Future changes in law and taxation, or your own financial circumstances, could affect the treatment of the scheme and the amount of tax payable. In order to ascertain your exact tax status, you should seek specific and professional tax advice in relation to your tax obligations under the Lifetime Occupational Pension Scheme.
Financial Advice – This document is not designed to offer financial advice and therefore should not be used with regards to making a decision about your retirement planning. We suggest you always refer to a financial adviser before planning any form of investment. This document has been produced on our understanding of current legislation and tax laws, which may be subject to change in the future.
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