President Ratifies First Amendment Bill to Pension Act

President Mohamed Nasheed has today ratified the First Amendment Bill to Pension Act passed by the People’s Majlis. Following the ratification the First Amendment Act to Pension Act has been published in the government gazette today.

The Act states that Maldives Pension Administration Office, within 12 months of the commencement of the Act, should formulate procedures for expatriate workers to participate in the Maldives Retirement Pension Scheme.

It also states that Maldives Pension Administration Office should finalize the participation of all expatriate workers in the pension scheme within 3 years of the commencement of the First Amendment Act.