Celebrating 10 years as an award-winning international pensions provider based in Malta, Sovereign Pension Services Limited (SPS) has been putting that expertise to work to create occupational pension schemes that are specifically designed for businesses here on the island.

From small beginnings in 2012 when Sovereign first opened a pensions’ office in Valletta with five employees, SPS has grown to a headcount of 27 and assets under management of more than £726 million. Known as one of the largest providers and administrators of Qualifying Recognised Overseas Pension Schemes (QROPS) in Malta, SPS now boasts an array of products suitable for a broad range of international and local clients.

This growth has been achieved both organically and by acquisition – SPS acquired the Elmo International Retirement Plan and Elmo US Retirement Plan from Elmo Pensions Ltd in 2021 and this year added the Azure Retirement Benefit Scheme from Integrated-Capabilities (Malta) Ltd (ICML). We received an occupational scheme licence from the Malta Financial Services Authority (MFSA) to operate occupational schemes within Malta’s domestic market in 2020.

To accommodate their growth, SPS relocated from Birkirkara to larger, centrally located offices in St Julian’s in 2020.

To accommodate this growth, SPS relocated from Birkirkara to larger, centrally located offices in St Julian’s in 2020. With Malta set to further enhance the tax incentives for private retirement planning, SPS is ready to be at the forefront of the occupational scheme market and work with local stakeholders to introduce occupational pension schemes for their employees. 

“We aim to position Sovereign as the leader in retirement benefit provision in the local market and to become the trusted partner for employers in Malta,” says SPS Managing Director Cristina Cassar Difesa who has been with the firm from day one. “It is not just 10 years of a profitable business, but 10 years of being at the forefront of pension services and putting our clients first when it comes to retirement planning.

“We are actively recruiting in Malta. We have a great culture that reflects Sovereign’s brand and values and I want to thank all members of the SPS team. Without them, SPS could not have achieved the success we have had. I’d also like to thank our introducers, who have believed in our products and consistently recommended our services to their clients.”