Amendment proposed to exclude expats from pension scheme

Ruling Progressive Party of Maldives (PPM) MP Abdul Azeez Jamaal Aboobakuru has proposed an amendment bill to the Maldives Pension Act to exclude expatriate workers from the retirement pension scheme.

Article 12 (b) of the Maldives Pension Act requires the employer to enroll all employees, who are under the official age of retirement, on the retirement pension scheme. The law also obligates the employee to participate in the scheme.

The amendment bill argues that the majority of expatriate workers will move overseas to retire and thus, including expatriate workers defeats the purpose of the scheme.

Official retirement age in the Maldives is 65 years.