Maldives Pension Administrative Office (MPAO) has revealed the Pension Fund receives over USD 5.8 million every month, with over 150,000 people registered in the pension scheme.
Speaking at the Parliament Committee on Independent Institutions, CEO of MPAO Mohamed Manik said although many people are registered in the pension scheme, the issue of some private employers not registering employees in the scheme have been noticed. Highlighting the Pension Fund receives over USD 5.8 million each month, Manik described the amount as an investment to maintain the Pension Fund responsibly. He added the MPAO is prepared to introduce more schemes that will benefit the public, noting MPAO is ready to invest in activities beneficial to citizens.
During the committee meeting, parliamentarians discussed ways to arrange funds for housing and other living expenses from the Pension Fund.