President Ibrahim Mohamed Solih, on Sunday, ratified bill that enables pensioners to utilize their pension funds to make the Islamic pilgrimage of Hajj.
The bill was presented to Parliament by Maldives Pension Administration Office (MPAO) on behalf of the government.
From the date of ratification, regulations regarding the withdrawal of pension funds must be established and publicised within a period of three months. Regulations will be decided drafted by the board of MPAO.
This new amendment was part of President Ibrahim Mohamed Solih’s presidential pledges.
As per the amendment only allows first-time pilgrims to qualify for the Hajj scheme.
Furthermore, pensioners can only fund 50 percent of the official amount decided by the government as the cost of making the pilgrimage.
Additionally, the new amendment increases the senior citizen's month pension from MVR 2,000 to MVR 5,000. However, since former president Yameen Abdul Gayoom’s administration, pensions deposits have stood at MVR 5,000.
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