Maldives Pension Administration has decided to buy shares equivalent
to Rf100 million from Dhiraagu, with a hope to provide an additional gain for
pensioners.
In a press briefing held at pension office, the CEO Mohamed
Hussein Manik said the move was made because the law on pension scheme permits pensioners
money to be invested and the changes made to regulations concerning pension
deposits. The CEO said Dhiraagu was chosen to invest because the company is
more reliable and continues to make profit.
The pension authority hopes that a gain between 8-11 percent
can be made from the investment shares. A total of 1 percent from the profit
will be employed for administration costs as the current costs for pension
administration is borne by the state.
More than 80,000 people working in public and private
companies have registered themselves in Maldives Retirement Pension Scheme so
far. People over 65 years of age are to receive a particular monthly amount of
money from the pension scheme.
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Written by: Ibrahim Nazim
16 November 2011, Wednesday
20 Thw al-Hijjah 1432
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