Pension contributions for January have not been deposited for employees at several government ministries
Concerns are mounting over the government's failure to deposit pension contributions into the relevant funds, despite consistently deducting these amounts from employees' salaries.
The Guest of Honor at the Maldives Finance Forum 2025, Minister of Finance and Planning Moosa Zameer, addresses the participants of the forum. | Pension Office | Pension Office
It has come to the attention of this news outlet that pension contributions for January have not yet been deposited for employees at several government ministries.
As this issue came to light, concerns have also emerged regarding the failure of several state-owned enterprises to regularly deposit pension contributions for their employees.
A senior civil servant working at a government ministry has confirmed to this newspaper, on condition of anonymity, that no contributions were deposited into their pension fund for the month of January.
"The money was deducted from our salaries, yet it hasn't been credited to the fund. When other employees at this ministry checked, they found that the payments for January had not been deposited either," he said.
Concerns are mounting over the failure to regularly deposit funds into the employee pension scheme, despite the fact that pension contributions continue to be consistently deducted from employees' salaries.
The Maldives Retirement Pension Scheme (MRPS) is a scheme established under the Maldives Pension Act.
The primary objective of this scheme is to encourage employees to save during their working years, ensuring a steady income upon retirement. Under this arrangement, both the employer and the employee contribute 7% of the employee's basic salary each month, totaling a 14% monthly contribution to the scheme. The final pension amount disbursed through this scheme is determined by the total balance accumulated in the individual's retirement savings account by the time they reach the eligible retirement age.
