Public Accounts Committee Seeks Resolution for Double Pension Issue

The Public Accounts Committee of Parliament in the Maldives has started efforts to resolve the issue of double pensions, following concerns raised by the Pension Office about its potential financial impact. 

The issue arose after the Pension Act of 2009 was introduced without recognising the Special Act on Retirement Pensions from the Civil Service Act of 2007, leading to an overlap of pension systems.

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Dhiggaru MP and Deputy Speaker of Parliament, Ahmed Nazim, called for collaboration between the Civil Service and Pension Office to address the conflicts between the two laws, ensuring that civil servants’ pensions are not affected. He also highlighted the need for careful planning, as civil servants already receive low salaries.

MP Abdul Gafoor Moosa criticised the current pension system, stating that individual institutions had tailored pension policies to suit their needs, which undermines sustainability. He suggested that pension provisions in institutional laws should be removed to ensure a more coherent system.

The committee has scheduled another meeting to continue discussions on the issue, which is becoming increasingly critical as the elderly population in the Maldives is projected to rise significantly in the coming decades, placing further strain on the country’s pension system.