Open to correction, but it's my understanding Malta won't charge tax on payments out of their equivalent of an ARF if you're resident in a country outside Malta with which Malta has a DTA. There are many such countries and some of them have very attractive tax rates.
I think that's why some other threads posited scenarios like this...
Individual resident/domiciled in Ireland
Moves their pension to Malta
Retires to live in Portugal
Reaps the benefits of more advantageous tax treatment of pension lump sum and/or ongoing drawdowns than would've been the case if they had remained living in Ireland in retirement