Malta Financial Services Authority launches Know Before You Sign campaign on pensions and insurance-based investment products

The Malta Financial Services Authority has launched the “Know Before You Sign” consumer awareness campaign to help consumers better understand retirement products, including pensions and insurance-based investment products, before making long-term financial commitments. The campaign encourages consumers to assess whether a product fits their personal needs, financial situation, investment horizon and comfort with risk. MFSA sets out key questions to consider, including how the product works and what it aims to achieve, whether savings are exposed to market fluctuations, what charges apply, how long the commitment lasts, and whether early exit is possible and subject to penalties or restrictions. It also highlights warning signs such as pressure to sign quickly, unclear or overly technical explanations, incomplete documentation, or presentations that focus on benefits without a balanced explanation of risks and long-term obligations. The campaign reiterates consumer rights to clear, fair and not misleading information, access to key documents such as the Key Information Document, and sufficient time to review a product, noting that a cooling-off period may apply in many cases.