The Maldives Pension Administration Office (MPAO) has opened to apply for the vacant position on its board.
MPAO is governed by an eight-member board as per the Maldives Pension Act. The board consists of a chairperson, public sector representatives, and private sector representatives. MPAO announced that one of the four members representing the private sector has become vacant. The members representing the private sector are appointed to the board by the president. As such, the selection committee formed to conduct the selection of board members representing the private sector will shortlist three candidates for the position and the Capital Market Development Authority (CMDA) will verify their eligibility. Interested individuals who wish to apply for the board are requested to submit their applications before 1400hrs on February 16.
MPAO was established as an independent legal entity under the Maldives Pension Act, which was ratified in 2009. The Pension Act mandates MPAO to carry out the administration and management of pension schemes and provide retirement pensions and old-age basic pensions. MPAO is also tasked with formulating regulations, standards, and guidelines to operate schemes established under the Pension Act, and conducting awareness programmes for such schemes.