Fifteen days given for announced pension non-compliers to settle payment

The Pension Office has said that fifteen days have been given for pension non-compliers, whose names have been publicised, to settle the payment before further action is taken against them.

Names of 90 employers who have failed to make the payment to the pension fund were announced last Tuesday.

Director of Pension Office Ismail Shujau said that if the payment is not made within 15 days by these employers, administrative checks will be made on them and cases will be filed against them to Court.

“These two actions will be taken, based on the seriousness of the case,” he said.

Their deadline will be up on 9 October.

Shujau said that some employers owe large amounts to the pension fund.

“We might have to take these matters to Court. It is the employees’ right,” he said.

He said that prior efforts will be made to settle the issues outside of Court.

He also expressed hope that some employers will make the payment once their names are announced.

The list of pension non-compliers included 90 names, of which four were removed bringing the number down to 86. Local Government Authority (LGA), Thakandhoo Council and TMM Pharmacy, which were included on the list by mistake, have been removed.

Shujau informed that Absolute Security and Advance Protection Pvt Ltd settled the payment after the names were announced, resulting in its removal from the list.

Absolute Security and Advance Protection Pte Ltd was the only company to settle the payment after the non-compliers’ names were publicised.

Pension non-compliers include some of the biggest companies, such as Aima Construction Pvt Ltd, Yacht Tours Maldives Pvt Ltd, Gan Airport Company Ltd, Heavy Load Maldives Pvt Ltd, M.V.K. Maldives Pvt Ltd and Dine More Pvt Ltd.

The pension fund collects more than MVR50 million per month, and currently holds over MVR1 billion.

The pension scheme is contributed to by 71,000 employees.