Maldives Pension Administration Office (MPAO) has today announced that it has completed depositing the MVR 5000 monthly social protection allowance to elderly.
Director at MPAO Ismail Sujau told Sun today that the office has deposited MVR 42.2 million to the accounts of 16,120 persons eligible for the pension allowance. The amount is a top-up to this months monthly allowance of MVR 2300, an allowance already existed, Ismail Sujau said.
“The amount deposited to the elderly persons’ accounts are the sums needed to bring it up to MVR 5000. The MVR 2300 we’ve been giving until now was deposited earlier. Finance [Ministry] granted the money, and it has been deposited,†Sujau said.
The commencement of the distribution of MVR 5000 in social protection allowance to the elderly, a presidential election pledge made by ruling party Progressive Party of Maldives (PPM), came on Sunday, 106 days after President Yameen assumed office.
The 2014 State Budget did not include an allocation for the increased allowance. Approximately MVR 400 million was allocated for the provision of MVR 2300 to the elderly.
The MVR 2300 will be increased through ‘a financial instrument’ to facilitate the provision of MVR 5000, Vice Chairperson of Economic Council, Tourism Minister Ahmed Adheeb revealed on Sunday.
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