New Pension Office CEO pledges secure fund management and fair treatment of staff

"The pension fund will be managed and safeguarded securely and sustainably."

That was the commitment given by Yazmeed Mohamed as he assumed office as Chief Executive Officer of the Maldives Pension Administration Office on Sunday.

Yazmeed took up the post at a ceremony held at the Pension Office, where staff from across the institution gathered to welcome him. He set out his priorities in remarks delivered after the appointment.

He said the affairs of the Pension Office would be organised around that goal of secure and sustainable management. He pledged to build an institution fully trusted by the public, describing his aim as a body that is modern, robust, productive, and exemplary.

Focus on staff

Yazmeed said employees play the greatest role in reaching those targets.

He committed to ensuring staff are never made to feel discouraged. He said he would establish equality among employees and provide fair opportunities for all staff.

He also said he wanted a workplace where employees work together happily, as a united and friendly team.

In return, he called on staff to commit to their work with sincerity and honesty. He asked them to work as a team to deliver results.

What the Pension Office does

The Pension Office is an independent statutory body established under the Maldives Pension Act (Act No. 8/2009).

It administers and oversees the country's pension schemes. Its main responsibilities include providing the Retirement Pension and the Old-Age Basic Pension.

The office also sets the regulations that govern those schemes. Its stated purpose is to ensure sustainable social protection so that Maldivians can retire with dignity.

The Retirement Pension Scheme is funded by contributions from employees and employers. The Old-Age Basic Pension is a state-funded payment for eligible citizens aged 65 and above.