Parliament accepts bill proposing pension access for those battling major illnesses

The Parliament, on Monday, has accepted the bill proposing a major amendment to the Pension Act to allow those battling serious illnesses such as cancer to access their pension funds for their treatment.

The government-backed bill was submitted after the ruling-PNC dominated Parliament rejected an amendment submitted by opposition MDP’s North Galolhu MP Mohamed Ibrahim (Kudoo), seeking the same changes on October 21^st.

President Dr. Mohamed Muizzu announced the government’s decision to submit the amendments to the Pension Act to pave the way for the utilization of pension funds for additional purposes during a meeting with Henveiru district residents of Male’ on December 7^th.

The new bill submitted by PNC’s Milandhoo MP Hassan Mufeedh Abdul Qadir includes new provisions.

The bill was accepted by the unanimous votes of 51 lawmakers in attendance during the extraordinary sitting out of session held on Monday. Subsequently, the bill has been forwarded to the Independent Institutions Committee for further review

Under the proposed amendments, individuals undergoing treatment for serious illnesses would be allowed to withdraw pension funds regardless of age, either as a lump sum or in instalments. Another change would permit pension holders who have already paid 20 percent of Hajj costs to the Hajj Corporation to cover the remaining 80 percent using their pension.

Currently, while pension funds may be used for Hajj expenses, withdrawals for medical treatment and other purposes are restricted, and pension payments begin at 65 years.