Maldives Pension Office Amends Rules to Allow Hajj After Age 65

The Maldives Pension Administration Office has amended and announced rules regarding the release of funds from the Retirement Pension Scheme for performing Fard Hajj, allowing participants aged 65 and above to use their savings to reserve a Hajj spot. Under the amended rules, money remaining in a participant's Retirement Savings Account can be used to reserve space for performing Fard Hajj under the responsibility of the Hajj Corporation or with another party providing the service, even if the participant has turned 65. Previously, retirement funds could not be used to secure Hajj spots for people over 65 or for those who turned 65 by the time the spot was secured. Under the scheme, the condition for performing Fard Hajj is met if there is MVR 336,000 in the Retirement Savings Account. If applying to go for Hajj, after paying 20% of the cost of the journey to the Hajj Corporation, the participant must submit a request to the Pension Office to settle the remaining balance. A spot will then be reserved according to the established order. The amount reserved for Hajj will not be included when calculating the pension money given to pensioners or newly retired persons. Additionally, those who have reserved a Hajj spot by paying the required money themselves due to reaching pension age or turning 65 may request to settle the funds from the Retirement Savings Account as per the rules.