President's Office has proposed 80 percent of the allocated price of the Hajj pilgrimage to be covered by Pension Fund.
The president ratified the amendment to Pension Act, allowing the use of Retirement Savings Account to finance Hajj pilgrimage. Initially, it was decided only 50 percent of the total price of allocated price for Hajj pilgrimage will be provided via the fund.
Speaking at the press conference, Spokesperson at president's office, Chief Communication Strategist Ibrahim Hood revealed the administration has now proposed to provide 80 percent of the allocated price for Hajj pilgrimage from the fund. He said efforts are underway to submit an amendment to Maldives Pension Act.
Citing initial figures, Maldives Pension Administration Office (MPAO) said only individuals who have over 21-thousand US dollars are eligible to receive funds. In this regard, MPAO revealed about 6-thousand people are eligible to receive funds for Hajj pilgrimage.
It is a pledge of President Ibrahim Mohamed Solih to allow the utilisation of pension funds for Hajj pilgrimage.