Case filed to court against Aima Construction for not paying employee pension

The Pension Office has said that a case has been filed to court against Aima Construction following failure by the company to make payments to the pension scheme.

Speaking at a press conference held at the Pension Office today, Pension Office CEO Mohamed Hussain Manik said that the case against Aima Construction was filed to court last week.

This is the first case filed against a company for failure to contribute to the pension fund.

“We have filed a case against Aima Construction because they have failed to make the payments. We will take action according to procedures against groups that fail to make the payments,” Manik said.

He said that even though no money is transferred to the pension fund, pension money is being deducted from employees’ salaries. He did not disclose the amount owed by Aima Construction.

Manik informed that the fund received MVR55 million monthly, and that 71,900 public and private sector employees contribute to the fund. He said that the fund makes profits through T-bills and fixed deposits, and that obstacles are faced in making profits through investments as the Pension Act states that the company can only invest in Capital Market Development Authority (CMDA) listed companies.

The Pension Office earlier publicised names of 90 companies that had filed to make payments to the pension fund, out of which 70 companies still remain on the list.