Personal Pension Tax Credit Calculator
Enter your annual PRS pension contribution and see the 25% tax credit (capped at €750 on €3,000) and net cost of saving, neutral of any insurer's product.
A registered Personal Retirement Scheme (PRS) gives an annual tax CREDIT (not a deduction) of 25% of qualifying contributions made in the year, up to a maximum qualifying contribution of €3,000 — i.e. a maximum credit of €750/year. The credit reduces tax payable directly (not taxable income). To qualify under the PRS Rules the scheme must restrict withdrawals to between ages 61 and 70. Contributor must be Malta tax-resident and at least 18. Unrelated to this contribution-side credit: from 1 January 2026 all Maltese retirement pension income received by individuals aged 61+ is 100% exempt from income tax (up from 80% exempt previously) — a payout-side change, not modelled by this scheme object.
Malta's 25% Personal Pension Tax Credit Explained
Contributing to a registered Personal Retirement Scheme (PRS) in Malta earns you an annual tax CREDIT — not just a deduction — worth 25% of your qualifying contributions, up to a maximum qualifying contribution of €3,000/year. That caps the credit itself at €750/year, and because it's a credit rather than a deduction, it reduces your tax bill directly rather than just your taxable income. To qualify, the scheme must restrict withdrawals to between ages 61 and 70, and you must be Malta tax-resident and at least 18.
Separately, from 1 January 2026, all Maltese retirement pension income received by individuals aged 61 and over became 100% exempt from income tax, up from 80% exempt previously — a payout-side change that isn't part of this contribution-side credit but is worth knowing about when planning long-term retirement income.
How to use this calculator
- Enter your annual PRS contribution
- The calculator applies the 25% credit rate up to the €3,000 qualifying-contribution cap (a maximum €750 credit)
- See the resulting net cost of saving after the credit is applied
