Maldives Pension Administration Office (MPAO) has revealed that MVR 100 million is disbursed per month to 23,000 people as basic pensions for the elderly.

The government pension now includes the Maldives Retirement Pension Scheme and the Basic Pension Scheme for the Elderly. The basic pension scheme for the elderly is MVR 5,000 for people aged 65 years. Then there is a pension for the retirement of persons in the service of some institutions specified in the law including the army, police and customs.

Pension Office Director Investment Aiminath Irasha told the Independent Institutions Committee of the Parliament that 122,000 people of the country's population is working. Therefore, the Maldives Retirement Pension Scheme receives MVR 143 million per month.

The Maldives Retirement Pension Scheme has so far received MVR 5.1 billion in profits and the fund value of the pension scheme is MVR 19 billion.