MPAO digitalizes pension services with ‘Koshaaru’ portal

Economic Minister Fayyaz Ismail (R) launches Maldives Pension Administration Office's 'Koshaaru' portal on December 1, 2021. (Photo/MPAO)

Maldives Pension Administration Office (MPAO) launched a portal on Wednesday, providing customers with access to all its services online under one platform. 

MPAO’s portal – Koshaaru – was launched by Economic Minister Fayyaz Ismail in a ceremony on Wednesday morning. 

According to MPAO, the portal will offer people with access to all its services online, 24 hours a day, from anywhere around the globe. 

For people who are employed, the portal will offer all the tools they require from the moment they register for the retirement pension scheme, including checking pension account details, making changes to portfolios, checking details of benefits they are eligible to under the scheme, and the calculator needed to plan their pension. 

MPAO said that it will allow people to plan their pension at a young age. 

The portal also offers pensioners the convenience of online services, without having to wait in queues or go through paperwork. 

The portal will also allow people the opportunity to make immediate changes to the bank account to which their pension is deposited, and other information. 

This will also be an important feature for employers, said MPAO.