President Ibrahim Mohamed Solih has ratified the fourth amendment to the “Pension Act” (Act No. 8/2009). The amendment was passed by the Parliament at the 4th sitting of its first session, on 27th February 2019.
Following ratification, the Act has been published in the Government Gazette.
Upon ratification of the amendment, the retirement savings accounts may now be utilized by those covered under the Maldives Retirement Pension Scheme for their obligatory Hajj pilgrimage, as per the criteria stated in the Pension Act.