BCC silent on nonpayment of pension contributions in three months

State-owned Business Centre Corporation (BCC) has declined to comment on its failure to pay pension contributions in three months.

The nonpayment of pension contributions by three state-owned enterprises had come to light in the response provided by Maldives Pension Administration Office (MPAO) for a request filed under the Right to Information by Afrah Mohamed, a private individual, seeking when state-owned enterprises last paid their pension contributions and the details of the amount paid.

BCC is among the non-payees with the SOE’s last pension contribution in September 2025.

Sun’s calls and texts seeking a comment from BCC regarding the matter has gone unanswered, including calls and texts of BCC’s managing director Ibrahim Ziyaau.

Hence, it is unclear why BCC has failed to pay its pension contributions.

One of the SOEs which has failed to pay the pension contributions is Waste Management Corporation (WAMCO) which last paid their pension contributions in October 2024, marking 14 months since they last paid their pension contributions.

When questioned by Sun, WAMCO said while pension contributions were deducted from salaries until October, the company has been unable to deposit the funds due to delays in receiving payments for services rendered.

Road Development Corporation (RDC) is the third SOE with unpaid pension contributions. MPAO noted that while RDC deposited MVR 1.1 million into the Pension Fund last December, outstanding dues remain. As such, the Authority said it was communicating with the company regarding its settlement.

Every employee is entitled to pension contributions under the constitution.

Each month, 14 percent of an employee’s salary must be deposited by the employer into the Pension Fund, with seven percent deducted from the employee’s salary and the remaining seven percent contributed by the employer.

Pension was introduced to ensure employees have a source of income upon their retirement. The money deposited to the Pension Fund can be accessed by an employee upon their retirement.