Issue link: https://maltatoday.uberflip.com/i/1336090
4.2.2021 4 NEWS MAPFRE MSV Life reports sustained demand for Personal Pension Plans during 2020 MAPFRE MSV Life p.l.c. has continued to consolidate its position as the leading provider of retirement savings solutions in the Maltese market during 2020, in- creasing significantly its book of Per- sonal Pension plans. "We have written more than 2,000 new Personal Pension Plans during 2020," said Michael Galea, Chief Busi- ness Development Officer at MAPFRE MSV life. "As a result, MAPFRE MSV Life today has 8,000 Personal Pension Plan customers with aggregate Pensions Savings amounting to €23 million. is is a very important development as we are seeing more and more people who decide to start saving voluntarily in or- der to support their lifestyle aspirations when they retire," added Mr. Galea. e MAPFRE MSV Life Personal Pen- sion Plans are qualifying schemes which, therefore, enable customers to benefit, subject to eligibility, from the tax credits made available by government. e tax credit for 2020 was of 25% applicable to a maximum contribution of €2,000 (re- sulting in a maximum tax credit of €500 per person). Government is continuing to incentivize voluntary pensions savings and has increased the fiscal incentives for 2021 with the applicable tax credits now standing at 25% up to a maximum contribution of €3,000, that is, a maxi- mum of €750 per person. Demand for MAPFRE MSV Life Per- sonal Pension Plans has reached a new record during 2020 and it is evident that more and more people are becom- ing aware of the importance of saving enough to support their lifestyle once they retire. "If one considers our increasing life expectancy together with the lifestyles that we aspire to today, it becomes im- mediately apparent that we could face a real risk of outliving our savings in retirement. at is why we advocate the importance of saving enough and of saving well. e MAPFRE MSV Life Personal Pension Plans are ideal to help people to save towards their retirement whilst benefiting from the tax incen- tives that government makes available," added Mr. Galea. More information about the MAP- FRE MSV Life Personal Pension Plans is available from the MAPFRE MSV Life offices in Floriana, Luqa and B'Kara or from any MAPFRE MSV Life interme- diary. MIDEA, one of the world's leading home appliance producers, has an- nounced its global partnership expan- sion with City Football Group. Midea's relationship with City Football Group started in January 2020 when it became an Official Partner of Manches- ter City, and after a highly successful first year of partnership, the decision was made to expand the relationship by adding the Manchester City Women's team and New York City FC. e highlight of the 2020 partnership has been the #MideaHomeChallenge -- a six-week campaign where players, coaches, legends and fans took part in a series of challenges and trick-shots us- ing their household appliances. e so- cial media campaign, which generated millions of engagements, was a creative solution to engage and inspire football fans all around the world who were stuck at home during lockdown. Midea will continue to produce global, regional and localised digital campaigns with Manchester City's men's and wom- en's players, as well as branding appear- ing across the Etihad Stadium and the Club's online platforms. Stephan Cieplik, SVP of Global Part- nerships at City Football Group, said the partnership with Midea had been ex- tremely successful since it was launched in January 2020. "e Midea Home Challenge has been one of our most popular content cam- paigns which not only created high lev- els of digital engagement but provided fans around the world with fun chal- lenges to help keep them entertained whilst at home. Midea is a brand whose values and ambitions align with Man- chester City and we are delighted that we are now expanding this partnership to include further teams within the City Football Group family." Brando Brandstaeter, Head of Brands & Communications at Midea Group's International Business Division, com- mented: "We were thrilled to announce our partnership with Manchester City at the start of 2020. In light of the pan- demic, we mobilised our teams to cre- ate the #MideaHomeChallenge, which helped kick-off the partnership in an unexpected but even more engaging way. e cooperation with Manchester City during these challenging times has given us the confidence to expand and strengthen our relationship with the City Football Group by adding Man- chester City Women's and New York City FC and Mumbai City to our roster -- something I am very much looking forward to bring to life for Midea in 2021." Midea expands partnership with Manchester City and City Football Group Left to right: Brando Brandstaeter, Head of Brands & Communications, Midea Group's International Business Division with Stephan Cieplik, SVP of Global Partnerships, City Football Group at the signing of the partnership expansion in Shanghai in December 2020