Sunday, 01st August – According to Maldives Pension Administration Office, a total of MVR123 million have been disbursed as pension during July 2021.
The latest statistical update publicized by the authority, reveal the dominant portion of the pension disbursement was issued out as basic pension which is over MVR90 million issued out to a total of 19,107 pensioners.
According to the existing policies of MPAO, Maldivians aged 65 and above are subject to the basic pension – a lifetime pension benefit for the senior citizens.
Moreover, over MVR7 million were issued out as retirement pension to a total of 1,444 pensioners.
On the other hand, state allowances issued to pensioners from state institutions and officers covered MVR19 million – issued to a total of 4,155 pensioners. Another MVR5 million were disbursed to a total of 3,078 pensioners as retirement benefits.
The pension administration office is the prime and exclusive body mandated with the collation of pension data as well as managing pensioners’ funds to provision them with the monthly pension.