Minister of Social and Family Development, Dr. Aishath Shiham has revealed the government's commitment to establishing a comprehensive social security system. She made the remarks during the opening ceremony of the 11th Maldives Finance Forum 2024, organized by the Maldives Pension Administration Office (MPAO). The forum, themed A Sustainable Pension System, was attended by 150 participants.
Speaking at the ceremony, Minister Aishath highlighted the challenges posed by an ageing population and emphasised the importance of early preparation to steer social and economic development in a new direction. She stressed the need for a strong social security system to ensure fair, sustainable, and adequate income for vulnerable groups, including senior citizens, and to protect people from social and natural disasters throughout their lives. She noted that the system should also include participatory programmes.
Additionally, Minister Aishath pointed out that the pension system is a key component of social security. She said that the framework for such a system has been prepared and expressed hope that the forum would generate valuable ideas to strengthen it. She also said that the next step is to collaborate with stakeholders to develop the system further.
The forum addressed issues related to pensions and social security, including a panel discussion on the impact of the ageing population on the Maldivian economy. The forum aims to provide a platform for experts to discuss and exchange views on various financial and social sector issues in the Maldives.