Senior citizen allowances to be targeted for the needy

Last year, the Finance Ministry spent MVR 1.3 billion on old-age allowances, with MVR 298 million going to retirees. An estimated MVR 1.5 billion is expected to be allocated next year.

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Senior citizens

Malika Shahid

2024-11-12 16:00:33

Government has decided to revise regulations for the old age allowance, targeting those who cannot afford retirement on their own.

According to next year’s budget, the elderly population in the Maldives is growing, leading to rising expenditures on retirement benefits for individuals over 65.

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