State Funded Pension Schemes : Maldives Administration Office MPAO
Name of the Organization : Maldives Pension Administration Office (MPAO)
Type of Facility : State Funded Pension Schemes
Country : Maldives
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Website : https://www.pension.gov.mv/dv
Download Forms : https://www.pension.gov.ae/en-us/pages/default.aspx
State Funded Pension Schemes :
In 2011, MPAO broadened its scope with the addition of the service for disbursement of state funded pension schemes.
Related : Maldives Pension Administration Office MPAO Apply For BP : www.statusin.org/7718.html
These are the benefits previouly administered by Ministry of Finance and Treasury. This administrative arrangement ensures a centralized and uniform mechanism to distribute various state funded pensions.
Accrued Pension Rights:
Accrued Pension Rights is a benefit given to the state employees who were in employment on the date of ratification of the Pension Act provided that they are below 65 years on this date. Accrued Pension Rights was given according to the laws and regulations in effect prior to the ratification of the Pension Act.
Who is eligible for Accrued Pension Rights?:
All those employees who were in the state employment on 13th May 2009 and have not reached 65 years of age on this date are eligible for Accrued Pension Rights.
How is Accrued Pension Rights calculated?:
Accrued Pension Rights is calculated using the following formula
Accrued pension rights= basic salary on 13 May 2009 × 93% ×14% × service period up to 30 April 2010.
How can I check my service period?:
On our website www.pension.gov.mv there is a special link from which you can check your service period by entering your national ID number and your date of birth.
What should I do if the service period shown in the database is incorrect?:
If your service period on our database is incorrect, you need to send the correct information to MPAO through your employer. If you are a civil servant your information must be sent through Civil Service Commission. Once we get the information from your employer we will change it accordingly.
What is the purpose of the GREEN FORM issued by MPAO for the civil servants?:
The purpose of the GREEN FORM is to ensure that your service period and salary paid on 13 May 2009 mentioned in our records are changes or not and make necessary correction where needed and as an acknowledgement of receipt of accrued pension rights.
What should I do if the information given in the GREEN FORM is incorrect?:
If the information given in the GREEN FORM is incorrect, you need to send the correct information to MPAO through your employer. If you are a civil servant your information must be sent through the Civil Service Commission.
Contact us:
Phone : +960 3309908
Fax : +960 3307759
Email Address : info AT pension.gov.mv
FAQs of old-age basic pension :
1. What is old-age basic pension?
Old-age basic pension is a lifetime pension benefit paid to all Maldivian citizens who reside in the Maldives and has reached 65 years of age. The basic pension amount is paid monthly and is the same for everyone. Exceptions are for pensioners receiving any other pension income (for instance, Maldives Retirement Pension scheme) where basic pension amount is reduced by 50% of other pension amount.
2. Who is eligible for basic pension?
Every Maldivian who meets the following conditions is eligible for basic pension :
** He/she should be a Maldivian citizen
** He/she should reside in Maldives.
** He/she should be 65 years or older
** He/she SHOULD NOT be in the full time care of the State or Incarcerated upon conviction
** He/she SHOULD NOT receive more than twice the amount of basic pension from any other pension scheme.
3. When and how can I apply for basic pension?
You can apply for basic pension 6 months before you reach 65 years of age or any time after this date.
To apply for basic pension you need to fill in the “pension applicants information form” and submit original form to Pension Administration Office. You can submit your application through atoll council, island council offices.
4. Do you pay basic pension in cash?
No. The Basic- pension amount will be deposited to a single or joint bank account (Maldivian Rufiyaa) of the individual in the territory of Maldives.
5. I did not apply for basic pension even after reaching the age of 65. I am planning to apply after a period of 2 years. Will you pay the amount for the elapsed two years?
You cannot recover the full amount for the elapsed two years as payment will only be backdated for the past 12 months from the date on which you apply for basic pension.
From January 2015 onwards, basic pension for the elapsed period will not be backdated, you will receive pension from the month you apply for basic pension.