Support low to register expats on pension scheme: MPAO

Maldives Pension Administration Office (MPAO) has said that they are not receiving the expected support to register foreign workers on the Maldives Retirement and Pension Scheme.

Director at MPAO Ismail Sujau told Sun today that the law requires all expatriate workers in the Maldives to register for the exiting pension scheme by the end of April this year.

“We have established a method to sign up foreigners for the pension scheme. But we are not getting much support,” Sujau said.

The same regulation applies for foreigners and locals where seven percent of the salary is contributed by the employee and the remaining seven percent deposited by the employer. The MPAO Director said the office has conducted numerous awareness sessions over the past year.

“There is a special exemption for foreigners, as employees are allowed four months from hiring to have to start depositing money to the pension fund,” Sujau said.

He said the accumulated pension money will be granted to workers when they choose to go back to their countries and that those who do not sign up for the scheme by the end of April will be penalized.