Members FAQ

What is Basic Pension?

Lifetime pension benefit given to senior citizens as provided in Maldives Pension Act.

Am I eligible for Basic Pension?

You are eligible if you meet the following conditions:

  • Should be a Maldivian citizen
  • Should reside in the Maldives
  • Should be 65 years or older
  • Should NOT be in the full-time care of the state or incarcerated upon conviction
  • Should NOT receive more than twice the amount of basic pension (at the moment MVR10,000 from Maldives Retirement Pension Scheme (MRPS)
  • Should NOT receive more than MVR 5000 from any state-funded pension scheme

Claim process

When can I apply for Basic Pension?

Pension applications can be submitted through the member portal. 

Koshaaru Portal link; 

In addition, Pensioners can fill and submit ‘Pension Applicants Form”  to Pension Office or to Island/Atoll council offices. The form can be submitted to pension Office via email ([email protected])  or by Viber number (7331441). 

The application form can be downloaded from Pension Office website. It is not mandatory to send the original application form to Pension Office. 

Pension Application download link;

How much would I receive as Basic Pension?

From March 2019 Basic Pension Amount is MVR 5000. For pensioners receiving pensions from other pension schemes the following adjustments will be made from the Basic Pension amount (MVR 5000):

  • 50% of the amount received from Maldives Retirement Pension Scheme
  • 100% of the amount received from any other state-funded pension scheme
  • Pensioners receiving more than double the amount of Basic Pension (MVR 10000) as pension from Maldives Retirement and pensioners receiving more than MVR 5000 from any state-funded pension scheme are not eligible for Basic Pension
How do I change my bank account number given to Pension Office?
  • Submit bank account change form (The application can be submitted to pension Office via email ([email protected]) or by Viber number (7331441)
  • Form can be downloaded from
  • Bank account must be a single or joint account opened in the pensioner’s name, in a bank operating in the Maldives
  • Bank account change request can be submitted through the member portal “”
Can I collect my Basic Pension in cash directly form Pension Office?

No. Your pension will be deposited to your bank account.

What is Maldives Retirement Pension Scheme (MRPS)?

MRPS is a contributory pension scheme funded through contributions from employees and employers while in employment.

How to register in MRPS?

The employer is mandated to participate in the MRPS and enrol it’s employees. The employers have to use Koshaaru portal ( to login and register the employer. 

The self employed person can register using the Pension Application ) OR Koshaaru portal ( and make contributions.

Who can participate in MRPS?
  • Participation is mandatory for all the employers and local employees between 16-65 years
  • Foreign employees can participate in MRPS if the employer is also willing to contribute to the foreign employee.
  • Self-employed Maldivians can participate voluntarily. There is no mandatory amount for self-employed persons


How much do I have to pay as mandatory contribution?
  • 7% of the employee’s basic salary by the employer
  • 7% of the employee’s basic salary by the employee
  • If the employer is willing to pay more than 7%, the employer can do so. However, the employer cannot take more than 7% from the employee
How do I pay contributions to MRPS?

If you are an employee, your employer will collect and pay contribution on your behalf. If you are a self-employed person you may follow the steps given below.

  • Step 1: Register in the Pension mobile application OR koshaaru portal (
  • Step 2: Use “Voluntary contribution” tab to make a contribution.
  • Step 3: Pay contributions through bank, transfer the amount through internet banking to the account (CCA) number on the payment voucher. 
  • Write the member ID card number and tracking number on the receipt notice.
  • Send the receipt notice by email ([email protected]) or by Viber number (7331441)
What is pensionable wage?

Pensionable wage is employee’s basic salary declared in the employment contract.

Do you charge any fees from members of MRPS?

Yes. 0.6% of total Retirement Savings Account of each member is charged annually as administration fee.


Who makes investment decisions regarding MRPS assets?

Investment decisions are made by the board of Pension Office, in accordance with the Maldives Pension Act and the Statement of Investment Principles.

Where do you invest MRPS funds?

Currently, MRPS funds are invested in:

  • Treasury bills
  • Fixed deposits
  • Equities
  • Bonds
What are the investment choices available for members of MRPS?

There are four different investment choices. They are:

  • MRPS Investment portfolio: This is the default Portfolio for members below 65 years who do not choose MRPS Sharia Portfolio
  • MRPS Sharia portfolio: Portfolio for members who choose to invest in sharia compliant instruments
  • MPRS Conservative portfolio: Default Portfolio for those members age 65 and over who do not choose the MRPS Retirees Shariah Portfolio
  • MRPS Retirees Shariah Portfolio: Portfolio for members age 65 and over who choose to invest in Shariah complaints instruments


When can I withdraw the money in my RSA?

When you reach 65 years. You may also withdraw at 55 years provided that you qualify for early retirement.

Do I qualify for early retirement under MRPS?

If you are above 55 years of age and the balance in your Retirement Savings Account (RSA) is sufficient to provide a lifetime monthly payment (based on life expectancy at the age 55) that is at least twice the amount of the old-age basic pension prevailing at the time of retirement, you are eligible for early pension withdrawal.

How do you calculate the amount an individual would receive as pension from MRPS?

In the interim, monthly pension payment is calculated by dividing the balance in the member’s RSA at the time he/she reaches 65 years by life expectancy at the age of 65. At present as per WHO figures life expectancy at the age of 65 for Maldivians is 79 years. Thus, pension benefits will be calculated for 14 years which is 168 months. In case the monthly payout is less than MVR 5000, this amount will be paid until the RSA balance is exhausted. In this scenario, the RSA will be exhausted before 14 years.

Can I withdraw the money in my RSA for medical and other such purposes?

Under the current ‘Benefits Regulation’, members are not allowed to withdraw from RSA for medical and other such purposes.

What will happen to the money in my RSA if I die before reaching 65 years?

The balance in your RSA will be paid to your legal heirs. Payment will be made in the form of a lump sum to the beneficiaries determined through inheritance law, and the money will be disbursed through the courts.

Accrued Pension Rights

What is Accrued Pension Rights?

Accrued Pension Rights is a benefit given to the state employees who were in employment on the date of ratification of the Pension Act provided that they are below 65 years on this date. Accrued Pension Rights were given according to the laws and regulations in effect prior to the ratification of the Pension Act.

Who is eligible for Accrued Pension Rights?

All those employees who were in the state employment on 13th May 2009 and have not reached 65 years of age on this date are eligible for Accrued Pension Rights.

How is Accrued Pension Rights calculated?

Accrued Pension Rights is calculated using the following formula.

Accrued pension rights= basic salary on 13 May 2009 × 93% ×14% × service period up to 30 April 2010.