WAMCO, BCC among 3 SOEs with unpaid pension contributions

Statistics disclosed by Maldives Pension Administration Office (MPAO) three state-owned enterprises including Waste Management Corporation (WAMCO) have not paid their pension contributions in a long time.

Every employee is entitled to pension contributions under the constitution.

Afrah Ismail, a private individual, filed a request under the Right to Information Act seeking when state-owned prices last paid their pension contributions and the details of the amount paid.

WAMCO has not paid employee pensions in over 14 months. BCC in over 3 months.

Let's see you refute this.

RTI Response Attached with Pension Office Letterhead and Stamp.

Source: https://t.co/KQL8sbaTBk pic.twitter.com/7Ia2C84iL0

— Dis.Hon. Afrah Ismail (@iharfa) January 13, 2026

MPAO’s response shows that two state-owned enterprises have failed to regularly pay their pension contributions.

In this regard, WAMCO last paid their pension contributions in October 2024, marking 14 months since they last paid their pension contributions.

Meanwhile, Business Center Corporation (BCC) has gone three months without paying their pension contributions, with the last such payment in September 2025.

MPAO noted that while the Road Development Corporation (RDC) deposited MVR 1.1 million into the Pension Fund last December, outstanding dues remain. As such, the Authority said it was communicating with the company regarding their settlement.

Each month, 14 percent of an employee’s salary must be deposited by the employer into the Pension Fund, with seven percent deducted from the employee’s salary and the remaining seven percent contributed by the employer.

Pension was introduced to ensure employees have a source of income upon their retirement. The money deposited to the Pension Fund can be accessed by an employee upon their retirement.