Key Takeaways
- • The Maldives Retirement Pension Scheme (MRPS) fund has grown to MVR 30.3 billion as of September, with 204,549 members enrolled, according to Pension Office CEO Yazmeed Mohamed.
- • The Pension Office paid out MVR 16.8 million in retirement pensions over the past 12 months, while the government spent MVR 158 million on pensions over the same period.
- • The Pension Office says it is prioritizing portfolio diversification, ESG-compliant projects and climate finance opportunities, with every investment to be backed by a robust risk management system.
- • Yazmeed warned that climate change could hit fisheries, tourism and small businesses, potentially reducing incomes and disrupting pension contributions.
Summary
The Maldives pension fund has surpassed MVR 30 billion, reaching MVR 30.3 billion as of September this year, according to Pension Office CEO Yazmeed Mohamed. The fund's membership stands at 204,549 people enrolled in the Maldives Retirement Pension Scheme (MRPS). Speaking at the Maldives Finance Forum, held at DusitD2 Feydhoo, Yazmeed reported that the office paid out MVR 16.8 million in retirement pensions over the past 12 months, while the government spent MVR 158 million on pensions over the same period.
The Maldives Finance Forum, organized by the Pension Office since 2012, focused this year on challenges to promoting green finance in the Maldives, as well as practical solutions and financial instruments that could support sustainable financing. Yazmeed said the office's priority is to diversify its investments and build a portfolio that delivers the strongest possible returns. He added that the office is seeking projects that meet environmental, social and governance (ESG) criteria, along with new opportunities to support climate financing.
Yazmeed stressed that sustainable and environmentally friendly investments should be prioritized to safeguard the financial security of future generations. "Every investment must be backed by a robust management system, with risks assessed and financial viability established," he said. The office will focus on identifying investments that offer long-term returns while delivering environmental and financial benefits.
Yazmeed also warned that climate change could affect key sectors of the economy, including fisheries, tourism and small businesses, potentially reducing incomes and disrupting pension contributions. "Strengthening the country's economy is therefore essential to ensuring the long term growth of the pension fund and the retirement security of its members," he said.
The Maldives Finance Forum, organized by the Pension Office since 2012, focused this year on challenges to promoting green finance in the Maldives, as well as practical solutions and financial instruments that could support sustainable financing. Yazmeed said the office's priority is to diversify its investments and build a portfolio that delivers the strongest possible returns. He added that the office is seeking projects that meet environmental, social and governance (ESG) criteria, along with new opportunities to support climate financing.
Yazmeed stressed that sustainable and environmentally friendly investments should be prioritized to safeguard the financial security of future generations. "Every investment must be backed by a robust management system, with risks assessed and financial viability established," he said. The office will focus on identifying investments that offer long-term returns while delivering environmental and financial benefits.
Yazmeed also warned that climate change could affect key sectors of the economy, including fisheries, tourism and small businesses, potentially reducing incomes and disrupting pension contributions. "Strengthening the country's economy is therefore essential to ensuring the long term growth of the pension fund and the retirement security of its members," he said.
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