The company has had an office in Malta since 1999 and holds both fiduciary services and retirement scheme administrator’s licences issued by local regulator, the Malta Financial Services Authority. However, its new QROPS, Centaurus Retirement Benefit Scheme, is its first in the jurisdiction.
The Gibraltar QROPS, Calpe Lite Retirement Benefit Scheme, is targeted at people with pension pots of less than £100,000 and as a consequences has lower fees – set-up being £300 and annual fees of £500. Sovereign launched the original Gibraltar-based Calpe scheme in November.
