The Voluntary Occupational Pension Scheme Rules, which have just been introduced by virtue of Legal Notice 228 of 2017 (the ‘Rules’), set out the fiscal measures announced in the 2017 Budget Speech relating to voluntary occupational pension schemes. They are the first set of tax measures introduced to incentivise an occupational pension system in Malta.

This scheme applies to employers, including self-occupied persons, associations representing employers and self-occupied person and companies who are registered as a payer for the purpose of the Final Settlement System Rules.

It is important to note that any contributions to such a pension scheme made by the employer shall not constitute to be a benefit for the purpose of the Fringe Benefits Rules.

To enable VOPS, go to "Settings" in the Payroll tab.

Click on the "Payroll" tab, and go to General Settings. Click "Edit" and check the "Enable VOPS" checkbox. In the "Employee VOPS Pay Item Analysis Code," enter "Employee VOPS."

The VOPS Pay Item Analysis is shown below.

Click "Save" once done.

The investment is split in two, one part is done by the Employee, and the other part is done by the Employer.

Employee VOPS - Click here to view how to set up VOPS for an Employee

Employer VOPS - Click here to view how to set up VOPS for the Employer

We have also provided a Report to display both the employer and employee VOPS data. Click here to see how you can generate this report

Didn't find what you're looking for? Drop us a message by clicking on the chat button on the bottom right side of the screen!

Did this answer your question?