In conjunction with the Consultation published by the Government on 18 June 2025, (L-0016-2025) the MFSA is issuing a consultation document proposing amendments to two primary Acts. The main purpose of these amendments are to provide the Minister the necessary powers to be able to introduce legislation establishing and regulating an auto-enrolment regime. 

Occupational pension plans are currently being developed by two different categories of licence holders, which are regulated by two different legal regimes. One category of licence holders are Retirement Scheme Administrators, licensed under the Retirement Pensions Act to manufacture and administer occupational retirement schemes. The other category of licence holders are long term insurance undertakings licensed under the Insurance Business Act to manufacture and distribute insurance-based investment products as occupational retirement products. Both licence holders benefit from the tax incentives provided through the Voluntary Occupational Pension Scheme Rules of 2017. 

The auto-enrolment regime is proposed to be regulated solely under the Retirement Pensions Act, which offers a regulatory framework for occupational pension schemes. In this regard, entities which would like to offer an occupational retirement scheme would be required to obtain an authorisation as a Retirement Scheme Administrator under the Retirement Pensions Act and then create an occupational retirement scheme which is compliant with the new auto-enrolment regime requirements and authorised under the Retirement Pensions Act. 

Interested parties are to submit their comments on the Government Portal and refer to the title of the Consultation document by not later than 17 July 2025.